<SEC-DOCUMENT>0001026608-17-000046.txt : 20170831
<SEC-HEADER>0001026608-17-000046.hdr.sgml : 20170831
<ACCEPTANCE-DATETIME>20170831161835
ACCESSION NUMBER:		0001026608-17-000046
CONFORMED SUBMISSION TYPE:	S-8
PUBLIC DOCUMENT COUNT:		4
FILED AS OF DATE:		20170831
DATE AS OF CHANGE:		20170831
EFFECTIVENESS DATE:		20170831

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ACME UNITED CORP
		CENTRAL INDEX KEY:			0000002098
		STANDARD INDUSTRIAL CLASSIFICATION:	CUTLERY, HANDTOOLS & GENERAL HARDWARE [3420]
		IRS NUMBER:				060236700
		STATE OF INCORPORATION:			CT
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-8
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-220282
		FILM NUMBER:		171063579

	BUSINESS ADDRESS:	
		STREET 1:		55 WALLS DRIVE
		CITY:			FAIRFIELD
		STATE:			CT
		ZIP:			06824
		BUSINESS PHONE:		203-254-6060

	MAIL ADDRESS:	
		STREET 1:		55 WALLS DRIVE
		CITY:			FAIRFIELD
		STATE:			CT
		ZIP:			06824

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ACME SHEAR CO
		DATE OF NAME CHANGE:	19710713
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-8
<SEQUENCE>1
<FILENAME>acu_s82017.htm
<DESCRIPTION>S-8
<TEXT>
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<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
filed with the Securities and Exchange Commission on August 31, 2017</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin-top: 0; margin-bottom: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Registration No. 333-______</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">UNITED
STATES</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECURITIES
AND EXCHANGE COMMISSION</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Washington,
DC 20549</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">------------------------------------</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">FORM
S-8</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Registration
Statement</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under
the Securities Act of 1933</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">------------------------------------</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Acme
United Corporation</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Exact
name of Registrant as specified in its charter)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 50%; text-align: center; vertical-align: bottom">Connecticut</TD>
    <TD STYLE="width: 50%; text-align: center; vertical-align: top">06-0236700</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="text-align: center; vertical-align: top">(State or other jurisdiction of</TD>
    <TD STYLE="text-align: center; vertical-align: top">(I.R.S. Employer</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="text-align: center; vertical-align: top">incorporation or organization)</TD>
    <TD STYLE="text-align: center; vertical-align: top">Identification
Number)</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">55
Walls Drive</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fairfield,
Connecticut 06824</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(Address of principal executive offices, including zip code)</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Acme
United Corporation 2017 Non-Salaried Director Stock Option Plan</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Acme United Corporation 2012 Employee Stock Option Plan</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Full
Title of the Plan)</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-----------------</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Paul
Driscoll</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vice
President, Chief Financial Officer,</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Secretary
and Treasurer</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">55
Walls Drive</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fairfield,
Connecticut 06824</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Name
and address of agent for service</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(203)
254-6060</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Telephone
number, including area code, of agent for service)</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">copy
to:</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Merritt
A. Cole, Esq.</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Earp
Cohn P.C.</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">123
South Broad Street, Suite 1030</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Philadelphia,
Pennsylvania 19109-1022</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Phone
(215) 963-9520</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fax
(215) 963-9620</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-----------------</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicate
by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller
reporting company. See definitions of &ldquo;large accelerated filer&rdquo;,&rdquo; accelerated filer&rdquo; and &ldquo;smaller
reporting company in Rule&nbsp;12b-2 of the Exchange Act.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 3pt">Large
accelerated filer [_]&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accelerated filer [_]&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-accelerated filer [_]&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Smaller
reporting company [X]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Emerging
growth company [_]</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act
 [_]</FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0 0 6pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

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<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CALCULATION
OF REGISTRATION FEE</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #000000; font-weight: bold; border-bottom: Black 1pt solid">Title of securities to be registered</TD><TD STYLE="color: #000000; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: #000000; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amount to be registered (1)</TD><TD STYLE="color: #000000; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: #000000; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Proposed maximum offering price per share</TD><TD STYLE="color: #000000; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: #000000; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Proposed maximum aggregate offering price</TD><TD STYLE="color: #000000; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: #000000; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amount of registration fee</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="color: #000000; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: #000000; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="color: #000000; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: #000000; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="color: #000000; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: #000000; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="color: #000000; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: #000000; font-weight: bold; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 36%; font-size: 10pt; font-weight: bold; padding-left: 5.75pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: blue"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: blue"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; color: #000000"><B>Common Stock, par value $2.50 per share &nbsp;</B></FONT></P></TD><TD STYLE="width: 3%; color: #000000; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; color: #000000; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; color: #000000; font-weight: bold; text-align: right">20,000</TD><TD STYLE="width: 3%; color: #000000; font-weight: bold; text-align: center; vertical-align: bottom">(2)</TD><TD STYLE="width: 3%; color: #000000; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; color: #000000; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; color: #000000; font-weight: bold; text-align: right">28.20</TD><TD STYLE="width: 3%; color: #000000; font-weight: bold; text-align: center; vertical-align: bottom">(4)</TD><TD STYLE="width: 3%; color: #000000; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; color: #000000; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; color: #000000; font-weight: bold; text-align: right">564,000</TD><TD STYLE="width: 1%; color: #000000; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 3%; color: #000000; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; color: #000000; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; color: #000000; font-weight: bold; text-align: right">65.37</TD><TD STYLE="width: 1%; color: #000000; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 5.75pt">&nbsp;</TD><TD STYLE="color: #000000; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #000000; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: #000000; font-weight: bold; text-align: right">40,000</TD><TD STYLE="color: #000000; font-weight: bold; text-align: center; vertical-align: bottom">(3)</TD><TD STYLE="color: #000000; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #000000; font-weight: bold; text-align: left">$</TD><TD STYLE="color: #000000; font-weight: bold; text-align: right">25.48</TD><TD STYLE="color: #000000; font-weight: bold; text-align: center; vertical-align: bottom">(5)</TD><TD STYLE="color: #000000; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #000000; font-weight: bold; text-align: left">$</TD><TD STYLE="color: #000000; font-weight: bold; text-align: right">1,019,200</TD><TD STYLE="color: #000000; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: #000000; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #000000; font-weight: bold; text-align: left">$</TD><TD STYLE="color: #000000; font-weight: bold; text-align: right">118.13</TD><TD STYLE="color: #000000; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 5.75pt">&nbsp;</TD><TD STYLE="color: #000000; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #000000; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: #000000; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="color: #000000; font-weight: bold; text-align: center; vertical-align: bottom">&nbsp;</TD><TD STYLE="color: #000000; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #000000; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: #000000; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="color: #000000; font-weight: bold; text-align: center; vertical-align: bottom">&nbsp;</TD><TD STYLE="color: #000000; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #000000; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: #000000; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="color: #000000; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: #000000; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #000000; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: #000000; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="color: #000000; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="font-size: 10pt; font-weight: bold; padding-left: 5.75pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: blue"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: blue"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; color: #000000"><B>Common Stock, par value $2.50 per share &nbsp;</B></FONT></P></TD><TD STYLE="color: #000000; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #000000; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: #000000; font-weight: bold; text-align: right">42,550</TD><TD STYLE="color: #000000; font-weight: bold; text-align: center; vertical-align: bottom">(6)</TD><TD STYLE="color: #000000; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #000000; font-weight: bold; text-align: left">$</TD><TD STYLE="color: #000000; font-weight: bold; text-align: right">24.16</TD><TD STYLE="color: #000000; font-weight: bold; text-align: center; vertical-align: bottom">(4)</TD><TD STYLE="color: #000000; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #000000; font-weight: bold; text-align: left">$</TD><TD STYLE="color: #000000; font-weight: bold; text-align: right">1,028,008</TD><TD STYLE="color: #000000; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: #000000; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #000000; font-weight: bold; text-align: left">$</TD><TD STYLE="color: #000000; font-weight: bold; text-align: right">119.14</TD><TD STYLE="color: #000000; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt; padding-left: 5.75pt">&nbsp;</TD><TD STYLE="color: #000000; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #000000; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: #000000; font-weight: bold; text-align: right">197,450</TD><TD STYLE="padding-bottom: 1pt; color: #000000; font-weight: bold; text-align: center; vertical-align: bottom">(7)</TD><TD STYLE="color: #000000; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #000000; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; color: #000000; font-weight: bold; text-align: right">25.48</TD><TD STYLE="padding-bottom: 1pt; color: #000000; font-weight: bold; text-align: center; vertical-align: bottom">(5)</TD><TD STYLE="color: #000000; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #000000; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; color: #000000; font-weight: bold; text-align: right">5,031,026</TD><TD STYLE="padding-bottom: 1pt; color: #000000; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: #000000; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #000000; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; color: #000000; font-weight: bold; text-align: right">583.10</TD><TD STYLE="padding-bottom: 1pt; color: #000000; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: #000000; font-weight: bold; padding-left: 5.75pt">Total:</TD><TD STYLE="color: #000000; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #000000; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: #000000; font-weight: bold; text-align: right">300,000</TD><TD STYLE="color: #000000; font-weight: bold; text-align: center; vertical-align: bottom">&nbsp;</TD><TD STYLE="color: #000000; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #000000; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: #000000; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="color: #000000; font-weight: bold; text-align: center; vertical-align: bottom">&nbsp;</TD><TD STYLE="color: #000000; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #000000; font-weight: bold; text-align: left">$</TD><TD STYLE="color: #000000; font-weight: bold; text-align: right">7,642,234</TD><TD STYLE="color: #000000; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: #000000; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #000000; font-weight: bold; text-align: left">$</TD><TD STYLE="color: #000000; font-weight: bold; text-align: right">885.73</TD><TD STYLE="color: #000000; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; font-size: 10pt">(1)&nbsp;&nbsp;&nbsp;&nbsp;
Pursuant to Rule 416 under the Securities Act of 1933 (the &ldquo;Securities Act&rdquo;), this Registration Statement covers,
in addition to the number of shares stated herein, an indeterminate amount of additional shares of the Company&rsquo;s common
stock, par value $2.50 per share (the &ldquo;Common Stock&rdquo;), that may become issuable pursuant to the anti-dilution or
other adjustment provisions of (a) the Acme United 2017 Non-Salaried Director Stock Option Plan (the &ldquo;Director Plan&rdquo;) and
(b) the Acme United Corporation 2012 Employee Stock Option Plan, as amended effective February 26, 2016 (the &ldquo;Employee Plan&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; font-size: 10pt">(2)&nbsp;&nbsp;&nbsp;&nbsp;
Consisting of shares of Common Stock issuable upon exercise of options which have been granted under the Director Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; font-size: 10pt">(3)&nbsp;&nbsp;&nbsp;&nbsp;
Consisting of shares of Common Stock issuable upon exercise of options which may be granted under the Director Plan</P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)&nbsp;&nbsp;&nbsp;&nbsp;
Determined pursuant to 457(h)(1) under the Securities Act, based upon the exercise price of the options.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; font-size: 10pt">(5)&nbsp;&nbsp;&nbsp;&nbsp;
Estimated pursuant to Rules 457 (c) and 457 (h)(1) under the Securities Act, solely for the purpose of calculating the registration
fee, based upon the average of the high and low prices for shares of the Common Stock reported on the NYSE American on August
24, 2017.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; font-size: 10pt">(6)&nbsp;&nbsp;&nbsp;&nbsp;
Consisting of shares of Common Stock issuable upon exercise of options which have been granted under the Employee Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; font-size: 10pt">(7)&nbsp;&nbsp;&nbsp;&nbsp; Consisting of shares of Common
Stock issuable upon exercise of options which may be granted under the Employee Plan.</P>

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<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0 0 12pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Explanatory
Note.</B></FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company is filing this Registration Statement on Form S-8 for the purpose of registering a total of 300,000 shares of Common Stock,
par value $2.50 per share, of the Company (the &ldquo;Common Stock&rdquo;), which consist of:</FONT></P>


<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)&nbsp;&nbsp;&nbsp;&nbsp;
an additional 240,000 shares of Common Stock, which may be issued pursuant to the Acme United Corporation 2012 Employee Stock
Option Plan, as amended (the &ldquo;Employee Plan&rdquo;); and</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)&nbsp;&nbsp;&nbsp;
60,000 shares of Common Stock which may be issued pursuant to the Acme United Corporation 2017 Non-Salaried Director Stock Option
Plan (the &ldquo;Director Plan&rdquo;).</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; font-size: 10pt; text-indent: 0.5in">Pursuant to Rule 416 under the Securities
Act of 1933, as amended (the &ldquo;Securities Act&rdquo;), this Registration Statement also covers an indeterminate amount of
additional shares of Common Stock, which may become issuable pursuant to the respective anti-dilution or other adjustment provisions
of the Director Plan and the Employee Plan.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; font-size: 10pt">In accordance with Instruction E of the General Instruction
to Form S-8, the contents of the Registration Statement on Form S-8 (Reg. No. 333-206440) filed on August 17, 2015 by the Company
with the U.S. Securities and Exchange Commission (the &ldquo;Commission&rdquo;) relating to the Employee Plan are incorporated
by reference herein to the extent not otherwise modified or superseded by this Registration Statement.</P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>


<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Part
I</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>


<P><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">INFORMATION
REQUIRED IN THE SECTION 10(a) PROSPECTUS</FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; font-size: 10pt">The
documents containing the information specified in Part I of Form S-8 will be sent or given to participants as specified by Rule
428(b)(1) promulgated under the Securities Act. Such documents need not be filed with 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 herein
by reference pursuant to Item 3 of Part II of this Registration Statement, taken together, constitute a prospectus that meets
the requirements of Section 10(a) of the Securities Act (the &quot;Prospectus&quot;).</P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Part
II</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">INFORMATION
REQUIRED IN THE REGISTRATION STATEMENT</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Item
3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Incorporation of Documents by Reference.</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following documents previously filed with the Commission are incorporated by reference and made a part of this prospectus:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD>(a)</TD>
    <TD COLSPAN="2">our Annual Report on Form 10-K for the fiscal year ended December 31, 2016, filed on March 10, 2017;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 94%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>(b)</TD>
    <TD>(i)</TD>
    <TD>our Quarterly Reports on Form 10-Q for the quarters ended March 31, 2017 and June 30, 2017, filed on May 12, 2017, and August
4, 2017, respectively.</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>(ii)</TD>
    <TD> our Current Reports on Form 8-K filed on February 2, February 23, April 20, April 25, and July 25, 2017 (other than the portions
of those documents not deemed to be filed); and</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>(c)</TD>
    <TD COLSPAN="2">the description of our Common Stock contained in our Current Report on Form 8-K filed on July 8, 2005, including any amendment
to that form that we may file in the future, for the purpose of updating the description of our Common Stock.</TD></TR>
</TABLE>




<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">All documents that we file pursuant to Sections 13(a), 13(c),
14 and 15(d) of the Securities Exchange Act of 1934 (the &ldquo;Exchange Act&rdquo;) subsequent to the effective date of this
Registration Statement, prior to the filing of a post-effective amendment which indicates that all securities offered by this
Prospectus have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference
in this Prospectus and to be a part of this prospectus from the date of filing of such documents. Any statement contained herein
or in any document incorporated or deemed to be incorporated by reference shall be deemed to be modified or superseded for purposes
of this Registration Statement to the extent that a statement contained in any other subsequently filed document which also is
or is deemed to be incorporated by reference modifies or supersedes such statement. Any such statement so modified or superseded
shall not be deemed to constitute a part of this Registration Statement, except as so modified or superseded.</P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Item
4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Description of Securities.</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not
applicable, because the Common Stock is registered under Section 12 of the Exchange Act.</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Item
5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest of Named Experts and Counsel.</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">None.</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Item
6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indemnification of Directors and Officers.</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Connecticut
General Statutes (&quot;CGS&quot;) Sections 33-770 through 33-779 provide for mandatory, permissive and court-ordered indemnification
of directors who are parties to a proceeding. For purposes of these indemnification statutes a</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&quot;proceeding&quot;
is defined as any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative, arbitrative
or investigative and whether formal or informal.</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company's Restated Certificate of Incorporation provides that the Company shall
indemnify an individual who is a party to a proceeding because he is a director
or officer of the corporation against liability in the proceeding if:</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">(1)(A)
he conducted himself in good faith; (B) he reasonably believed
(i) in the case of conduct in his official capacity, that his conduct was in the best interests of the corporation; and (ii) in
all other cases, that his conduct was at least not opposed to the best interests of the corporation; and (C) in the case of any
criminal proceeding, he had no reasonable cause to believe his conduct was unlawful; or</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">(2)
such liability arises from any action taken, or any failure to take
any action, as a director or officer, except liability that (A) involved a knowing and culpable violation of law by the director
or officer; (B) enabled the director, officer or an associate (as defined in the CGS) to receive an improper personal gain; (C)
showed a lack of good faith and a conscious disregard for the duty of the director or officer to the corporation under circumstances
in which the director or officer was aware that his conduct or omission created an unjustifiable risk of serious injury to the
corporation; (D) constituted a sustained and unexcused pattern of inattention that amounted to an abdication of the director's
or officer's duty to the corporation; or (E) created liability under the CGS for the illegal payment of dividends.</FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Registrant has obtained directors' and officers' reimbursement and liability insurance against certain liabilities.</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Item
7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exemption from Registration Claimed.</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not
applicable.</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Item
8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exhibits.</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following exhibits are filed as part of this Registration Statement:</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 15%">&nbsp;<U>Exhibit No.</U></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 83%"><U>Identification of Exhibit</U></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD><A HREF="acu_s82017ex51.htm">5.1</A></TD>
    <TD>&nbsp;</TD>
    <TD>Opinion of Brody Wilkinson PC</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD><A HREF="acu_s82017ex231.htm">23.1</A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: top"><P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent of Marcum LLP, independent registered public accounting
firm</FONT></P>

</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>23.3</TD>
    <TD>&nbsp;</TD>
    <TD>Consent of Brody Wilkinson PC (included in Exhibit 5.1)</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>24.1</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT>Power
                                         of attorney (included on signature page of this Registration Statement)</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>10.1*</TD>
    <TD>&nbsp;</TD>
    <TD>2017 Non-Salaried Director Stock Option Plan</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD><A HREF="acu_s82017ex51.htm">10.2</A></TD>
    <TD>&nbsp;</TD>
    <TD>Form of Stock Option Agreement for 2017 Non-Salaried Director Stock Option Plan</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>10.3**</TD>
    <TD>&nbsp;</TD>
    <TD>2012 Employee Stock Option Plan, as amended</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>10.4***</TD>
    <TD>&nbsp;</TD>
    <TD>Form of Non-Qualified Stock Option Agreement for 2012 Employee Stock Option Plan, as amended.</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*
Incorporated by reference to Exhibit A to the Company's Proxy Statement filed with the Commission on March 22, 2017. </FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">**Incorporated
by reference to Exhibit 10.1 to the Company&rsquo;s Quarterly Report on Form 10-Q for the quarter ended June 30, 2012, filed with
the Commission on August 14, 2012, except that the number of shares of Common Stock authorized to be issued under the Employee
Plan pursuant to Section 3(a) thereof has been increased from 700,000 to 940,000 shares.</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">***
Incorporated by reference to Exhibit 10.2 to the Company&rsquo;s Quarterly Report on Form 10-Q for the quarter ended March 31,
2016, filed with the Commission on May 13, 2016.</FONT></P>



<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Item
9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Undertakings</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
undersigned Registrant hereby undertakes:</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)&nbsp;&nbsp;&nbsp;
To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)&nbsp;&nbsp;&nbsp;
To include any prospectus required by Section 10(a)(3) of the Securities Act;</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)&nbsp;&nbsp;&nbsp;
To reflect in the prospectus any facts or events arising after the effective date of this 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 this 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 a prospectus filed with the Commission pursuant
to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20% change in the maximum aggregate
offering price set forth in the &quot;Calculation of Registration Fee&quot; table in the effective registration statement;</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)&nbsp;&nbsp;&nbsp;
To include any material information with respect to the plan of distribution not previously disclosed in this Registration Statement
or any material change to such information in this Registration Statement;</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">provided,
however, that paragraphs (1)(a) and (1)(b) do not apply if the information required to be included in a post-effective amendment
by those paragraphs is contained in reports filed with or furnished to the Commission by the Registrant pursuant to Section 13
or Section 15(d) of the Exchange Act that are incorporated by reference in this Registration Statement.</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)&nbsp;&nbsp;&nbsp;
That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed
to be a new Registration Statement relating to the securities offered therein, and the offering of such securities at that time
shall be deemed to be the initial bona fide offering thereof.</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)&nbsp;&nbsp;&nbsp;
To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold
at the termination of the offering.</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)&nbsp;&nbsp;&nbsp;
That, for the 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 this 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>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5)&nbsp;&nbsp;&nbsp;
Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling
persons of the Registrant
pursuant to the foregoing provisions, or otherwise, the Registrant has
been advised that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities
Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment
by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful
defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the
securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy
as expressed in the Securities Act and will be governed by the final adjudication of such issue.</FONT></P>

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<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>




<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SIGNATURES</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant
to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it
meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf
by the undersigned, thereunto duly authorized, in the Town of Fairfield, State of Connecticut, on the 31st day of August, 2017.</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">ACME UNITED CORPORATION</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 45%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Walter C. Johnsen</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Walter C. Johnsen, Chairman of the Board and Chief Executive
Officer</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 47.95pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0; text-indent: 1.25in"></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">KNOW
ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Walter C. Johnsen and Paul
Driscoll, or either of them, as true and lawful attorneys-in-fact and agents with full power of substitution and re-substitution,
for him and in his name, place and stead, in any and all capacities to sign the Registration Statement filed herewith and any
or all amendments to said Registration Statement, and to file the same, with all exhibits thereto, and other documents in connection
therewith, with the Securities and Exchange Commission, granting unto said attorney-in-fact and agents the full power and authority
to do and perform each and every act and thing requisite and necessary to be done in and about the foregoing, as to all intents
and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorney-in-fact and agents
or any of them, or his substitute, may lawfully do or cause to be done by virtue hereof.</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant
to the requirements of the Securities Act of 1933, this Registration Statement has been signed by the following persons in the
capacities indicated below on the 31st day of August, 2017:</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white">
<TR>
    <TD STYLE="width: 40%"><FONT STYLE="font-size: 10pt">Signature</FONT></TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 45%"><FONT STYLE="font-size: 10pt">Title</FONT></TD>
    <TD STYLE="width: 10%"><FONT STYLE="font-size: 10pt"></FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD><FONT STYLE="font-size: 10pt"><U>/s/ Walter C. Johnsen</U></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top"><FONT STYLE="font-size: 10pt">Walter C. Johnsen</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Chairman of the Board, Chief Executive Officer and Director</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>



<P STYLE="margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white">
<TR>
    <TD STYLE="width: 40%"><FONT STYLE="font-size: 10pt"><U>/s/ Brian S. Olschan</U></FONT></TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 45%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD></TR>
<TR>
    <TD><FONT STYLE="font-size: 10pt">Brian S. Olschan</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">President, Chief Operating Officer and Director</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD><FONT STYLE="font-size: 10pt"><U>/s/ Paul Driscoll</U></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: top"><FONT STYLE="font-size: 10pt">Paul Driscoll</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Vice President, Chief Financial Officer, Secretary and&nbsp;Treasurer</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD><FONT STYLE="font-size: 10pt"><U>/s/ Rex L. Davidson</U></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD><FONT STYLE="font-size: 10pt">Rex L. Davidson</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD><FONT STYLE="font-size: 10pt"><U>/s/ Richmond Y. Holden, Jr.</U></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD><FONT STYLE="font-size: 10pt">Richmond Y. Holden, Jr.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD><FONT STYLE="font-size: 10pt"><U>/s/ Susan H. Murphy</U></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD><FONT STYLE="font-size: 10pt">Susan H. Murphy</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD><FONT STYLE="font-size: 10pt"><U>/s/ Stevenson E. Ward III</U></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD><FONT STYLE="font-size: 10pt">Stevenson E. Ward III</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Courier New, Courier, Monospace; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Exhibit
Index</U></FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"></P>

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<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 15%">&nbsp;<U>Exhibit No.</U></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 83%"><U>Identification of Exhibit</U></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD><A HREF="acu_s82017ex51.htm">5.1</A></TD>
    <TD>&nbsp;</TD>
    <TD>Opinion of Brody Wilkinson PC</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD><A HREF="acu_s82017ex231.htm">23.1</A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: top"><P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Consent of Marcum LLP, independent registered public accounting
firm</FONT></P>

</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>23.3</TD>
    <TD>&nbsp;</TD>
    <TD>Consent of Brody Wilkinson PC (included in Exhibit 5.1)</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>24.1</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT>Power
                                         of attorney (included on signature page of this Registration Statement)</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>10.1*</TD>
    <TD>&nbsp;</TD>
    <TD>2017 Non-Salaried Director Stock Option Plan</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD><A HREF="acu_s82017ex51.htm">10.2</A></TD>
    <TD>&nbsp;</TD>
    <TD>Form of Stock Option Agreement for 2017 Non-Salaried Director Stock Option Plan</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>10.3**</TD>
    <TD>&nbsp;</TD>
    <TD>2012 Employee Stock Option Plan, as amended</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>10.4***</TD>
    <TD>&nbsp;</TD>
    <TD>Form of Non-Qualified Stock Option Agreement for 2012 Employee Stock Option Plan, as amended.</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*
Incorporated by reference to Exhibit A to the Company's Proxy Statement filed with the Commission on March 22, 2017. </FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">**Incorporated
by reference to Exhibit 10.1 to the Company&rsquo;s Quarterly Report on Form 10-Q for the quarter ended June 30, 2012, filed with
the Commission on August 14, 2012, except that the number of shares of Common Stock authorized to be issued under the Employee
Plan pursuant to Section 3(a) thereof has been increased from 700,000 to 940,000 shares.</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">***
Incorporated by reference to Exhibit 10.2 to the Company&rsquo;s Quarterly Report on Form 10-Q for the quarter ended March 31,
2016, filed with the Commission on May 13, 2016.</FONT></P>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>



<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0"></P>

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    <TD STYLE="width: 100%; text-align: center; vertical-align: bottom; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">10</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0 0 12pt; text-indent: 0in">&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>



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<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>2
<FILENAME>acu_s82017ex51.htm
<DESCRIPTION>EXHIBIT 5.1
<TEXT>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Exhibit
5.1</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Board
of Directors</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Acme
United Corporation</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">55
Walls Drive</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Fairfield,
CT 06824</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Dear
Sirs and Madam:</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">We
are corporate general counsel for Acme United Corporation (the &ldquo;Company&rdquo;), a Connecticut corporation. We are delivering
this opinion in connection with the filing with the Securities and Exchange Commission (the &ldquo;Commission&rdquo;) on or about
the date hereof of a Form S-8 Registration Statement (the &ldquo;Registration Statement&rdquo;) relating to a total of 300,000
shares of Common Stock, par value $2.50 per share, of the Company (the &ldquo;Shares&rdquo;), consisting of: (i) up to an additional 240,000 Shares issuable upon exercise of options granted or which may be granted pursuant
to the Acme United Corporation 2012 Employee Stock Option Plan, as amended (the &ldquo;Employee Plan&rdquo;); and (ii) up to 60,000
Shares issuable upon exercise of options granted or which may be granted pursuant to the Acme United Corporation 2017 Non-Salaried
Director Stock Option Plan (the &ldquo;Director Plan&rdquo;). (The Employee Plan and the Director Plan are collectively referred
to herein as the &ldquo;Plans&rdquo;.)</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">We
have examined (i) the Restated Certificate of Incorporation and the Bylaws of the Company as presently in effect; (ii) a Certificate
of Existence for the Company issued by the Connecticut Secretary of the State dated August 10, 2017; (iii) the respective resolutions
of the Board of Directors and of the shareholders of the Company approving each of the Plans; (iv) the Plans; (v) a form of option
agreement under each of the Plans; and (vi) such other documents and instruments as we have considered necessary for the purposes
of the opinions hereinafter set forth.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">In
our examination of the aforesaid documents, we have assumed the genuineness of all signatures, the legal capacity of all natural
persons, the accuracy and completeness of all documents submitted to us, the authenticity of all original documents, and the conformity
to authentic original documents of all documents submitted to us as copies (including telecopies). This opinion letter is given,
and all statements herein are made, in the context of the foregoing.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Based
upon the foregoing, we are of the opinion that:</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1.</FONT></TD><TD STYLE="text-align: justify; padding-right: 1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
                                         Company has been duly incorporated and is a validly existing corporation under the laws
                                         of the State of Connecticut.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2.</FONT></TD><TD STYLE="text-align: justify; padding-right: 1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Upon
                                         issuance and delivery of Shares pursuant to the respective Plans and the related option
                                         agreements thereunder after the date hereof, including payment to the Company of the
                                         relevant option exercise price for the Shares, the Shares will be validly issued, fully
                                         paid, and nonassessable.</FONT></TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">This
opinion letter is provided to you for your benefit solely with regard to the Registration Statement, may be relied upon by you
only in connection with the Registration Statement, and may not be relied upon by any other person or for any other purpose without
our prior written consent.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">We
are members of the Bar of the State of Connecticut and some of us are members of other jurisdictions not relevant herein. In connection
herewith, we express no opinion on the laws of any jurisdiction other than the laws of the State of Connecticut.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
hereby consent to the filing of this opinion as an exhibit to the Registration Statement and to the use of our name in connection
with the Registration Statement. In giving this consent, we do not hereby admit that we are in the category of persons whose consent
is required under Section 7 of the Securities Act of the 1933 or the rules and regulations of the Commission thereunder.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0.5in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Very truly yours,</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 45%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">BRODY WILKINSON PC</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ James E. Rice</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>James E. Rice, Vice President</TD></TR>
</TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 243pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 100%; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">2</FONT></TD></TR>
</TABLE>




<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 243pt"></P>


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<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>acu_s82017ex102.htm
<DESCRIPTION>EXHIBIT 10.2
<TEXT>
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<P STYLE="margin: 0"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit
10.2<B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>STOCK OPTION AGREEMENT</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 6pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
Stock Option Agreement (this &ldquo;<B>Agreement</B>&rdquo;) is made and entered into as of ____ by and between Acme United Corporation,
a Connecticut corporation, (the &ldquo;<B>Corporation</B>&rdquo;) and __________ (the &ldquo;<B>Optionee</B>&rdquo;).</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 6pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Grant
Date:</B> ____________________________________</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exercise
Price per Share:</B> __________________________</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Number
of Option Shares:</B> _________________________</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Expiration
Date:</B> _________________________________</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 6pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 1pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal; color: black; vertical-align: baseline">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT STYLE="background-color: white"><U>Grant </U></FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">of
<FONT STYLE="font-weight: normal; color: black; vertical-align: baseline; background-color: white"><U>Option</U></FONT>.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.7in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal; color: black; vertical-align: baseline">1.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT STYLE="background-color: white"><U>Grant; Type of Option</U></FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">.
The Corporation hereby grants to the Optionee an option (the &ldquo;<B>Option</B>&rdquo;) to purchase the total number of shares
of Common Stock of the Corporation equal to the number of Option Shares set forth above, at the Exercise Price set forth above.
The Option is being granted pursuant Section 2.1 (b) of the Corporation&rsquo;s 2017 Non-Salaried Director Stock Option Plan (the
&ldquo;<B>Plan</B>&rdquo;). The Option is a &ldquo;non-qualified stock option&rdquo; and an &ldquo;Annual Option&rdquo; under
the Plan.&rdquo;&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.7in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal; color: black; vertical-align: baseline">1.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT STYLE="background-color: white"><U>Consideration; Option Subject to Plan</U></FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">.
The grant of the Option is made in consideration of the services to be rendered by the Optionee to the Corporation as a member
of its Board of Directors and is subject to the terms and conditions of the Plan. Capitalized terms used but not defined herein
will have the respective meanings ascribed to them in the Plan.&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal; color: black; vertical-align: baseline">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT STYLE="background-color: white"><U>Vesting</U></FONT><U>; Expiration</U></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.7in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal; color: black; vertical-align: baseline">2.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT STYLE="background-color: white"><U>Vesting</U></FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">.
The Option will become vested and exercisable one day after the date on which the Option was granted.&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.7in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal; color: black; vertical-align: baseline">2.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT STYLE="background-color: white"><U>Expiration</U></FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">.
The Option will expire on the Expiration Date set forth above, or earlier as provided in this Agreement or the Plan.&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal; color: black; vertical-align: baseline">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT STYLE="background-color: white"><U>Termination of </U></FONT><U>Service</U></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.7in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT STYLE="font-weight: normal; color: black; vertical-align: baseline; background-color: white"><U>Termination for Reasons
Other than Death, Disability</U></FONT></FONT><U> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal; color: black; vertical-align: baseline">or
<FONT STYLE="background-color: white">Retirement</FONT></FONT></U> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">.
If the Optionee ceases to serve as a director of the Corporation for any reason other than Death, Disability, or retirement, the
Optionee may exercise the Option (in whole or in part) until the earlier of (a) the first anniversary after the date of such termination
of the Optionee&rsquo;s service as a director (a &ldquo;Termination&rdquo;), unless extended by the Compensation Committee of
the Board of Directors, in its sole direction, within (30) days from the date of Termination; or (b) the Expiration Date.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.7in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.7in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal; vertical-align: baseline">Notwithstanding
the foregoing, if, upon Termination, the Optionee has served on the Board of Directors more than five (5) years, the exercise
rights for the Option shall be automatically extended until the expiration of the Option Term for the Option. However, in no event
may the Option be exercised after the expiration of the Option Term. </FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal; vertical-align: baseline">In
the event that the Optionee is terminated for Cause, the Option (including any vested but unexercised or unvested portions thereof)
shall immediately terminate and be null and void.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 49.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.2&nbsp;&nbsp;&nbsp;&nbsp;
<U>Termination Upon Death, Disability or Retirement</U>. Upon a Termination as a result of Death, Disability, or retirement of
the Optionee, (a) if the Optionee has served on the Board for five years or fewer, the unvested portion of the any Option shall
immediately terminate, and the vested but unexercised portion of the Option may be exercised by the Optionee within twelve (12)
months after Termination; and (b) if the Optionee has served on the Board for more than five years, the exercise rights for the
Option shall be automatically extended until the expiration of the Option Term for the Option. However, in no event may the Option
be exercised after the expiration of the Option Term.&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal; color: black; vertical-align: baseline">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT STYLE="background-color: white"><U>Method of Exercise</U></FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.7in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal; color: black; vertical-align: baseline">4.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT STYLE="background-color: white"><U>Election to Exercise</U></FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">.
To exercise the Option in whole or in part, the Optionee (or in the case of exercise after the Optionee&rsquo;s death or incapacity,
the Optionee&rsquo;s executor, administrator, heir or legatee, as the case may be) must deliver to the Chief Financial Officer
of the Corporation an exercise notice in the form attached as Exhibit A or as may otherwise be designated by the Corporation from
time to time. In the event that Optionee elects to exercise its Option pursuant to Section 4.2(b) or (c) below, Optionee shall
deliver the requisite exercise notice to the Chief Financial Officer of the Corporation via email.&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.7in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT STYLE="font-weight: normal; color: black; vertical-align: baseline"><U>Method of Exercise</U></FONT>. The Exercise Price
of the Option shall be paid in full at the time the Option (or portion thereof) is exercised. Such payment shall be made:</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.7in; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
in cash in United States currency;&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.7in; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
subject to the consent of the Corporation at the time of exercise, by reduction in the number of shares of Common Stock otherwise
deliverable upon exercise of the Option by the number of shares of Common Stock having an aggregate value equal to the total Exercise
Price of the Option (or portion thereof) based on the Fair Market Value; or</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.7in; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
subject to the consent of the Corporation at the time of exercise, the Optionee may elect to receive from the Corpoation cash
in an amount equal to the number of shares of Common Stock subject to the Option (or portion thereof) that is being exercised
multiplied by the excess of (A) the Fair Market Value over (B) the Exercise Price per share of the Option.&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 4.5pt; text-indent: 49.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT STYLE="font-weight: normal; color: black; vertical-align: baseline; background-color: white"><U>Withholding</U></FONT>.
If the Optionee is to experience a taxable event in connection with the receipt of shares of Common Stock pursuant to an Option
exercise, the Optionee shall pay the amount equal to the federal, state and local income taxes and other amounts as may be required
by law to be withheld by the Corporation prior to the issuance of such shares of Common Stock. If a cash payment is made in lieu
of exercise, taxes will also be withheld as required by law. The Corporation has the right to withhold from any compensation paid
to the Optionee. Notwithstanding any action the Corporation takes with respect to any or all income tax, social insurance, payroll
tax, or other tax-related withholding (&ldquo;Tax-Related Items&rdquo;), the ultimate liability for all Tax-Related Items is and
remains the Optionee&rsquo;s responsibility.</FONT></P>

<P STYLE="font: 1pt Times New Roman, Times, Serif; margin: 0"></P>

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<P STYLE="font: 1pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.7in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal; color: black; vertical-align: baseline">4.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT STYLE="background-color: white"><U>Issuance of Shares</U></FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">.
Provided that the Notice of Exercise and payment of the Exercise Price delivered by the Optionee to the Corporation pursuant to
Section 4, above, are in form and substance satisfactory to the Corporation, the Corporation shall issue the requisite number
of shares of Common Stock registered in the name of the Optionee, the Optionee&rsquo;s designee (as designated in the notice of
exercise), or the Optionee&rsquo;s legal representative, as appropriate.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal; color: black; vertical-align: baseline">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT STYLE="background-color: white"><U>No Rights as Shareholder</U></FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">.
The Optionee shall not have any rights as a shareholder with respect to any shares of Common Stock subject to the Option prior
to the date of the due exercise of the Option.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal; color: black; vertical-align: baseline">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT STYLE="background-color: white"><U>Transferability</U></FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">.
Except as expressly provided in the Plan, the Option shall not be transferable except by will, the laws of descent and distribution
or a qualified domestic relations order (&ldquo;QDRO&rdquo;) as defined by the Internal Revenue Code or Title I of the Employee
Retirement Income Security Act of 1974, as amended, or the rules thereunder. During the lifetime of the Optionee, grants under
the Plan shall be exercisable only by the Optionee or by the guardian or legal representative of the Optionee or pursuant to a
QDRO.&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal; color: black; vertical-align: baseline">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT STYLE="background-color: white"><U>Adjustments</U></FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">.
The shares of Common Stock subject to the Option may be adjusted in any manner as contemplated by Section 3.2 of the Plan.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal; color: black; vertical-align: baseline">8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT STYLE="background-color: white"><U>Tax</U></FONT><U> Matters</U></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">.
The Corporation (a) makes no representation or undertaking regarding the treatment of any Tax-Related Items in connection with
the grant, vesting, or exercise of the Option or the subsequent sale of any shares issued upon exercise of the Option; and (b)
has not structured the Option to reduce or eliminate the Optionee&rsquo;s liability for Tax-Related Items. The Optionee acknowledges
that there may be adverse tax consequences upon exercise of the Option or disposition of the underlying shares and that the Optionee
should consult a tax advisor prior to such exercise or disposition.&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT STYLE="font-weight: normal; color: black; vertical-align: baseline; background-color: white"><U>Compliance with Law</U></FONT>.
(a) The exercise of the Option and the issuance and transfer of shares of Common Stock shall be subject to compliance by the Corporation
and the Optionee with all applicable requirements of federal and state securities laws and with all applicable requirements of
any stock exchange on which the Corporation&rsquo;s shares of Common Stock may be listed.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal; color: black; vertical-align: baseline"><U>(b)
</U></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The exercise of each Option granted under
the Plan is subject to the condition that if, at any time the Corporation shall determine in its discretion that the listing,
registration, or qualification of any shares of Common Stock otherwise deliverable upon such exercise upon any securities exchange
or under any State or Federal law, or the consent or approval of any regulatory body, is necessary or desirable as a condition
of, or in connection with, such exercise or the delivery or purchase of shares thereunder, then, in any such event such exercise
shall not be effective unless such listing, registration, qualification, consent or approval shall have been effected or obtained
free of any conditions not acceptable to the Corporation in its sole discretion. Any such postponement shall not extend the time
within which the Option may be exercised; and neither the Corporation nor its directors or officers shall have any obligation
or liability to the Optionee or to a beneficiary or legal representative of the Optionee with respect to any shares of Common
Stock as to which the Option shall lapse because of such postponement.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal; color: black; vertical-align: baseline">10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT STYLE="background-color: white"><U>Notices</U></FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">.
Any notice required to be delivered to the Corporation under this Agreement shall be in writing and addressed to the Chief Financial
Officer of the Corporation at the Corporation&rsquo;s principal corporate offices. Any notice required to be delivered to the
Optionee under this Agreement shall be in writing and addressed to the Optionee at the Optionee&rsquo;s address as shown in the
records of the Corporation. In the event that Optionee elects to exercise its Option pursuant to Section 4.2(b) or (c) of this
Agreement, Optionee shall deliver the requisite Notice of Exercise to the Chief Financial Officer of the Corporation via email.
Either party may designate another address in writing (or by such other method approved by the Corporation) from time to time.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal; color: black; vertical-align: baseline">11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT STYLE="background-color: white"><U>Governing Law</U></FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">.
This Agreement will be construed and its provisions enforced and administered in accordance with and under the laws of the State
of Connecticut except to the extent that such laws may be superseded by any Federal law.&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal; color: black; vertical-align: baseline">12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT STYLE="background-color: white"><U>Options Subject to Plan</U></FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">.
The terms and provisions of the Plan as it may be amended from time to time are hereby incorporated herein by reference. In the
event of a conflict between any term or provision contained herein and a term or provision of the Plan, the applicable terms and
provisions of the Plan will govern and prevail.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal; color: black; vertical-align: baseline">13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT STYLE="background-color: white"><U>Successors and Assigns</U></FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">.
This Agreement will be binding upon and inure to the benefit of the successors and assigns of the Corporation and upon the Optionee
and the Optionee&rsquo;s beneficiaries, executors, administrators and the person(s) to whom the Option may be transferred pursuant
to Section 6 of this Agreement.&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal; color: black; vertical-align: baseline">14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT STYLE="background-color: white"><U>Amendment</U></FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">.
Under certain circumstances, as set forth in Sections 3.3 and 3.4 of the Plan, the Corporation has the right to amend the Plan
and the Options; <I>provided, </I>that no such action shall alter or impair any right or obligations under the Option without
the Optionee&rsquo;s consent, except as required under applicable law.&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal; color: black; vertical-align: baseline">15.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT STYLE="background-color: white"><U>Counterparts</U></FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">.
This Agreement may be executed in counterparts, each of which shall be deemed an original but all of which together will constitute
one and the same instrument.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal; color: black; vertical-align: baseline">16.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT STYLE="background-color: white"><U>Acceptance</U></FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">.
The Optionee hereby acknowledges receipt of a copy of the Plan and this Agreement. The Optionee has read and understands the terms
and provisions of the Plan and this Agreement, and accepts the Option subject to all of the terms and conditions of the Plan and
this Agreement. The Optionee hereby agrees to accept as binding, conclusive, and final all decisions, determinations and interpretations
of the Board of Directors upon any questions arising under the Plan.</FONT></P>

<P STYLE="font: 11pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt; text-transform: uppercase; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[signature
page follows]</FONT></P>

<P STYLE="font: 11pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt; text-transform: uppercase; text-align: center">&nbsp;</P>

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<P STYLE="font: 11pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt; text-transform: uppercase; text-align: center"></P>




<P STYLE="font: 11pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">IN
WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 10in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ACME
UNITED CORPORATION</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 6pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 6pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9;By:
______________________<BR>
&#9;Name:<BR>
&#9;Title:</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 3.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">OPTIONEE</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 6pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 3.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">_________________________<BR>
&#9;</FONT></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>




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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>EXHIBIT
A</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Form
of Notice of Exercise</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"></P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">NOTICE
OF EXERCISE</FONT></P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><BR>
Under the 2017 Non-Salaried Director Stock Option Plan</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date
of Exercise: _______________</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ladies
and Gentlemen:</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
constitutes notice to Acme United Corporation (&ldquo;Acme&rdquo;) under my stock option referred to below that I elect to purchase
the number of shares of Common Stock (the &ldquo;Shares&rdquo;) for the price set forth below.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Option
Information</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stock
option dated:&#9; _______________</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Number
of shares as to<BR>
which option is exercised:&#9; _______________</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exercise
price:&#9; $______________</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shares
to be</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">issued
in name of:&#9; _______________</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Instructions
to Optionholder</B>: There are three methods by which you may exercise your option. The first, Method 1, is the traditional form
of exercise in which you pay the full exercise price of the option in cash and then receive Shares in the amounts set forth under
&ldquo;Option Information,&rdquo; above. If you choose Method 1 below, do <U>not</U> complete the information required in Methods
2 and 3.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Alternatively,
you can choose either (but not both of) a net share exercise (Method 2) or a pure cash settlement (Method 3). Either of these
methods would eliminate the necessity of your making an out of pocket cash payment to Acme to exercise your option. If you choose
Methods 2 or 3, the value of the Shares will be calculated using the Fair Market Value of shares of Acme Common Stock determined
in the manner set forth in Section 1.6 (e) of Acme&rsquo;s 2017 Non-Salaried Director Stock Option Plan. <I><U>Note</U></I>: <FONT STYLE="background-color: white"><I>In
Methods 2 or 3, your choice is subject to Acme&rsquo;s consent at the time of exercise.</I></FONT></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>If
you choose Methods 2 or 3, you must deliver this exercise notice by email to the Chief Financial Officer of Acme</U>.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Method
1. Standard Exercise. </B><I>This method involves the payment of the option exercise price in full in cash and receipt of the
full amount of Shares.</I></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">I
enclose cash payment in full of the total exercise price for the Shares in the following amount as authorized by the related Stock
Option Agreement: $_____________</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Method
2. Net Share Exercise.</B> <I>This method will enable you to avoid paying the exercise price of the option in cash; the option
<U>will be settled in shares</U>. By choosing this method, you authorize Acme to decrease the number of the Shares to be delivered
to you by the number of Shares having an aggregate value equal to the total exercise price of your option, calculated as follows:</I></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fair
Market Value &#9;A&#9; $_____________</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exercise
Price &#9;B&#9; $_____________</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">#
Shares &#9;C&#9; _____________</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total
Value to be Received &#9;(A-B)*C $_____________</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Divided
by Fair Market Value &#9;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">equals
# Shares to be delivered&#9; _____________</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Method
3. Cash Settlement. </B><I>This method will enable you to avoid paying the exercise price of the option in cash; the option <U>will
be settled in cash</U>. By choosing this method, you authorize Acme to deliver to you cash in an amount equal to the value of
the Shares subject to the option, less the total exercise price of the option, calculated as follows:</I></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fair
Market Value &#9;A&#9; $_____________</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exercise
Price &#9;B&#9; $_____________</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">#
Shares &#9;C&#9; _____________</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total
Value to be Received &#9;(A-B)*C $_____________</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By
this exercise, I agree (i) to provide such additional documents as you may require pursuant to the terms of the related Stock
Option Agreement and Acme&rsquo;s 2017 Non-Salaried Director Stock Option Plan and (ii) to provide for the payment by me to you
(in the manner designated by you) of your withholding obligation, if any, relating to the exercise of my option.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[Optionee
Name]</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">_______________________________________________&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Signature</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>If
Methods 2 or 3 are selected:</I></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Agreed
to and approved:</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ACME
UNITED CORPORATION</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:__________________________<BR>
Name:</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

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    <TD STYLE="width: 100%; border-bottom: Black 1pt solid; text-align: center; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">8</FONT></TD></TR>
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<TYPE>EX-23.1
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<FILENAME>acu_s82017ex231.htm
<DESCRIPTION>EXHIBIT 23.1
<TEXT>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; color: green; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal; color: #000000">Exhibit
23.1</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><U>Consent
of Marcum LLP, Independent Registered Public Accounting Firm </U></B></FONT></P>

<P STYLE="font: 6.5pt Courier New, Courier, Monospace; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">We
consent to the incorporation by reference in this Registration Statement of Acme United Corporation on Form S-8 of our report
dated March 10, 2017, with respect to our audits of the consolidated financial statements of Acme United Corporation as of December
31, 2016 and 2015 and for the years then ended, appearing in the Annual Report on Form 10-K of Acme United Corporation for the
year ended December 31, 2016.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">/s/
Marcum LLP</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Marcum
LLP</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">New
Haven, Connecticut</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">August
31, 2017</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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