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<SEC-DOCUMENT>0000950149-02-000075.txt : 20020413
<SEC-HEADER>0000950149-02-000075.hdr.sgml : 20020413
ACCESSION NUMBER:		0000950149-02-000075
CONFORMED SUBMISSION TYPE:	S-8
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20020122
EFFECTIVENESS DATE:		20020122

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AMERICAN SHARED HOSPITAL SERVICES
		CENTRAL INDEX KEY:			0000744825
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-MEDICAL LABORATORIES [8071]
		IRS NUMBER:				942918118
		STATE OF INCORPORATION:			CA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-8
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-81138
		FILM NUMBER:		02513770

	BUSINESS ADDRESS:	
		STREET 1:		TWO EMBARCADERO CENTER
		STREET 2:		SUITE 2370
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94111-3823
		BUSINESS PHONE:		4157885300

	MAIL ADDRESS:	
		STREET 1:		TWO EMBARCADERO CENTER
		STREET 2:		SUITE 2370
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94111
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-8
<SEQUENCE>1
<FILENAME>f78433s-8.htm
<DESCRIPTION>FORM S-8
<TEXT>
<HTML>
<HEAD>
<TITLE>FORM S-8</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<P align="center"><FONT size="2"><B>As filed with the Securities and Exchange Commission on _________ Reg. No.</B></FONT>

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<P align="center"><FONT size="5"><B>SECURITIES AND EXCHANGE COMMISSION</B></FONT>
<DIV align="center"><FONT size="2"><B>Washington, D.C. 20549</B></FONT></DIV>

<P>
<HR width="15%" align="center" size="1" noshade>
<P>


<P align="center"><FONT size="3"><B>FORM S-8</B></FONT>

<DIV align="center"><FONT size="3"><B>REGISTRATION STATEMENT<BR>
Under<BR>
THE SECURITIES ACT OF 1933</B></FONT></DIV>

<P>
<HR width="15%" align="center" size="1" noshade>
<P>


<P align="center"><FONT size="5"><B>AMERICAN SHARED HOSPITAL SERVICES</B></FONT>
<DIV align="center"><FONT size="2">(Exact name of Registrant as specified in its charter)</FONT></DIV>

<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
        <TD width="50%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="45%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD align="center" valign="top"><FONT size="2"><B>California</B><BR>
(State or other jurisdiction of<BR>
incorporation or organization)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
<B>94-2918118</B><BR>
(I.R.S. Employer<BR>
Identification No.)</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR valign="bottom">
        <TD align="center" valign="top"><FONT size="2">Four Embarcadero Center, Suite&nbsp;3700<BR>
San Francisco, California<BR>
(Address of principal executive offices)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
94111-4107<BR>
(Zip Code)</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P align="center"><FONT size="2"><B>American Shared Hospital Services<BR>
401(k) Plan and Trust</B></FONT>
<DIV align="center"><FONT size="2">(Full title of the plan)</FONT></DIV>

<P align="center"><FONT size="2"><B>Ernest A. Bates, M.D.<BR>
Chairman of the Board and Chief Executive Officer<BR>
American Shared Hospital Services<BR>
Four Embarcadero Center, Suite&nbsp;3700<BR>
San Francisco, California 94111-4107<BR>
(415)&nbsp;788-5300</B></FONT>

<DIV align="center"><FONT size="2">(Name, address and telephone number, including area code, of agent for service)</FONT></DIV>

<P align="center"><FONT size="2"><I>Copy to:</I><BR>
<B>Willie R. Barnes, Esq.<BR>
Musick, Peeler &#038; Garrett LLP<BR>
One Wilshire Blvd., 21st Floor<BR>
Los Angeles, California 90017<BR>
(213)&nbsp;629-7600</B></FONT>

<P align="center"><FONT size="2"><B>Calculation of Registration Fee</B></FONT>

<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
        <TD width="43%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="13%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="14%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD colspan="17" nowrap align="center"><HR size="4" noshade></TD>
</TR>
<TR valign="bottom">
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1">Proposed Maximum</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1">Proposed Maximum</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><FONT size="1">Title of Securities</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1">Amount to be</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1">Offering Price</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1">Aggregate</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1">Amount of</FONT></TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><FONT size="1">to be Registered</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1">Registered(1)</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1">Per Share(2)</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1">Offering Price(2)</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1">Registration Fee</FONT></TD>
</TR>
<TR valign="bottom">
        <TD colspan="17" nowrap align="center"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">
        <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Common Shares
(without par value)</FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD colspan="3" align="center"><FONT size="2">200,000 Shares</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">$</FONT></TD>
        <TD align="left"><FONT size="2">3.09</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">$</FONT></TD>
        <TD align="right"><FONT size="2">618,000</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">$</FONT></TD>
        <TD align="right"><FONT size="2">56.86</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
        <TD colspan="17" nowrap align="center"><HR size="4" noshade></TD>
</TR>
<TR valign="bottom">
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
</TABLE>
</CENTER>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
      <TD width="1%" align="left" nowrap><FONT size="2">(1)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">In addition, pursuant to Rule&nbsp;416(c) under the Securities Act of 1933, as
amended, this Registration Statement also covers an indeterminate amount
of interests to be offered or sold pursuant to the employee benefit plan
described herein.</FONT></TD>
</TR>
<TR><TD><TR><TD><TR><TD><TR><TD>
<TR valign="top">
      <TD width="1%" align="left" nowrap><FONT size="2">(2)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">Estimated solely for the purpose of calculating the registration fee
pursuant to Rule&nbsp;457(c) and (h)(1) under the Securities Act of 1933, as
amended, based on the last reported sale price of the Registrant&#146;s Common
Shares as reported on the American Stock Exchange on January&nbsp;15,
2002.</FONT></TD>
</TR>
</TABLE>
<P><FONT size="2"><B>This Registration Statement shall become effective upon filing in accordance
with Rule&nbsp;462 under the Securities Act of 1933, as amended.</B>
</FONT>

<P>
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<HR size="4" noshade color="#000000" style="margin-top: -10px">

<P align="center"><FONT size="2">&nbsp;
</FONT>

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<!-- TOC -->
<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

<P><CENTER>
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	<TD width="76%"></TD>
</TR>
<TR><TD colspan="9"><A HREF="#000">PART II</A></TD></TR>
<TR><TD colspan="9"><A HREF="#001">INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#002">Item&nbsp;3. Incorporation of Documents by Reference</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#003">Item&nbsp;4. Description of Securities</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#004">Item&nbsp;5. Interest of Named Experts and Counsel</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#005">Item&nbsp;6. Indemnification of Directors and Officers</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#006">Item&nbsp;7. Exemption from Registration Claimed</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#007">Item&nbsp;8. Exhibits</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#008">Item&nbsp;9. Undertakings</A></TD></TR>
<TR><TD colspan="9"><A HREF="#009">SIGNATURE</A></TD></TR>
<TR><TD colspan="9"><A HREF="f78433ex23-02.txt">EXHIBIT 23.02</A></TD></TR>
<TR><TD colspan="9"><A HREF="f78433ex23-03.txt">EXHIBIT 23.03</A></TD></TR>
</TABLE>
</CENTER>
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>




<!-- link1 "PART II" -->
<DIV align="left"><A NAME="000"></A></DIV>
<P align="center"><FONT size="2"><B>PART II</B></FONT>

<!-- link1 "INFORMATION REQUIRED IN THE REGISTRATION STATEMENT" -->
<DIV align="left"><A NAME="001"></A></DIV>
<P align="center"><FONT size="2"><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B></FONT>

<!-- link2 "Item&nbsp;3. Incorporation of Documents by Reference" -->
<DIV align="left"><A NAME="002"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;3. Incorporation of Documents by Reference</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following documents filed by American Shared Hospital Services (the
&#147;Registrant&#148;) with the Securities and Exchange Commission (the &#147;Commission&#148;)
under the Securities Exchange Act of 1934 (the &#147;Exchange Act&#148;) are incorporated
herein by reference:
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;the Registrant&#146;s Annual Report on Form&nbsp;10-K for the fiscal year ended
December&nbsp;31, 2000;
</FONT>

<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;all other reports filed by the Registrant pursuant to Section&nbsp;13(a) or
15(d) of the Exchange Act since the end of the fiscal year covered by the
Annual Report on Form&nbsp;10-K referred to in (a)&nbsp;above.
</FONT>

<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;the description of the Registrant&#146;s Common Shares set forth on page 40
in the Registrant&#146;s Registration Statement on Form&nbsp;S-1 Registration No.
33-63721, effective as of May&nbsp;13, 1996.
</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each document filed by the Registrant with the Commission pursuant to
Sections&nbsp;13(a), 13(c), 14 and 15(d) of the Exchange Act subsequent to the date
of this Registration Statement, but prior to the filing of a post-effective
amendment to this Registration Statement which indicates that all securities
offered herein have been sold or that deregisters all such securities then
remaining unsold, will be deemed to be incorporated by reference in this
Registration Statement and to be a part hereof from the date of filing of such
documents.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any statement contained in a document incorporated by reference herein
shall be deemed to be modified or superseded for purposes of this Registration
Statement to the extent that a statement contained herein or in any other
subsequently filed document which also is or is deemed to be incorporated by
reference herein modifies or supersedes such statement. Any such statement so
modified or superseded shall not be deemed, except as so modified or amended,
to constitute a part of this Registration Statement.
</FONT>
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<DIV align="left"><A NAME="003"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;4. Description of Securities</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</FONT>
<!-- link2 "Item&nbsp;5. Interest of Named Experts and Counsel" -->
<DIV align="left"><A NAME="004"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;5. Interest of Named Experts and Counsel</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WILLIE R. BARNES, the Secretary and a Director of the Registrant, is a
partner in the law firm of Musick, Peeler &#038; Garrett LLP, which performed legal
services for the Registrant in the past. The Registrant anticipates that
Musick, Peeler &#038; Garrett will continue to perform legal services for the
Registrant in 2002. The management of the Registrant is of the opinion that
the fees paid to Musick, Peeler &#038; Garrett LLP are comparable to the fees that
would have been paid for comparable legal services from a law firm not
affiliated with the Registrant.
</FONT>
<P align="center"><FONT size="2">2
</FONT>

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<!-- link2 "Item&nbsp;6. Indemnification of Directors and Officers" -->
<DIV align="left"><A NAME="005"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;6. Indemnification of Directors and Officers</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;204(10) of the California General Corporation Law (&#147;GCL&#148;) permits
the inclusion in the articles of incorporation of a California corporation of a
provision eliminating or limiting the personal liability of a director for
monetary damages in an action brought by or in the right of the corporation for
breach of a director&#146;s duties to the corporation and its shareholders. The
foregoing provision is subject to certain qualifications set forth in the GCL
including, without limitation, that such provision may not limit or eliminate
liability of directors for (i)&nbsp;intentional misconduct, (ii)&nbsp;transactions from
which a director derived an improper personal benefit, (iii)&nbsp;reckless disregard
of the director&#146;s duties, and (iv)&nbsp;an unexcused pattern of inattention that
amounts to an abdication of the director&#146;s duties. The Registrant&#146;s Articles of
Incorporation, as amended, contains an article eliminating the liability of the
directors for monetary damages to the fullest extent permissible under
California law.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;317 of the GCL permits the indemnification of officers, directors,
employees and agents of California corporations. Article&nbsp;Fifth, Section&nbsp;2, of
the Registrant&#146;s Articles of Incorporation, as amended, provides that the
Registrant is authorized to provide indemnification to its agents in excess of
the indemnification otherwise permitted by Section&nbsp;317 of the GCL.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Article&nbsp;IX, Sections&nbsp;7 and 8, of the Bylaws of the Company contains the
following indemnification provisions:
</FONT>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="1%" nowrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
        <TD width="99%"></TD>
</TR>
<TR valign="top">
        <TD nowrap><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">Section&nbsp;7. MANDATORY INDEMNIFICATION OF DIRECTORS. The
corporation shall, to the maximum extent and in the manner
permitted by the California Corporations Code (&#147;Code&#148;),
indemnify each of its directors against expenses (as defined in
Section&nbsp;317(a) of the Code), judgments, fines, settlements, and
other amounts actually and reasonably incurred in connection
with any proceeding (as defined in Section&nbsp;317(a) of the Code),
arising by reason of the fact that such person is or was an
agent of the corporation. For purposes of this Article&nbsp;IX, a
&#147;director&#148; of the corporation includes any person (i)&nbsp;who is or
was a director of the corporation, (ii)&nbsp;who is or was serving at
the request of the corporation as a director of another
corporation, partnership, joint venture, trust or other
enterprise, or (iii)&nbsp;who was a director of a corporation which
was a predecessor corporation of the corporation or of another
enterprise at the request of such predecessor corporation.</FONT></TD>
</TR>
</TABLE>
<P align="center"><FONT size="2">3
</FONT>

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<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="1%" nowrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
        <TD width="99%"></TD>
</TR>
<TR valign="top">
        <TD nowrap><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">Section&nbsp;8. PERMISSIVE INDEMNIFICATION. The corporation shall
have the power, to the extent and in the manner permitted by the
Code, to indemnify each of its officers, employees and agents
against expenses (as defined in Section&nbsp;317(a) of the Code),
judgments, fines, settlements, and other amounts actually and
reasonably incurred in connection with any proceeding (as
defined in Section&nbsp;317(a) of the Code), arising by reason of the
fact that such person is or was an agent of the corporation.
For purposes of this Article&nbsp;IX, an &#147;employee&#148; or &#147;agent&#148; of the
corporation (other than a director, includes any person (i)&nbsp;who
is or was an employee or agent of the corporation, (ii)&nbsp;who is
or was serving at the request of the corporation as an employee
or agent of another corporation, partnership, joint venture,
trust or other enterprise, or (iii)&nbsp;who was an employee or agent
of the corporation which was a predecessor corporation of the
corporation or of another enterprise at the request of such
predecessor corporation.</FONT></TD>
</TR>
</TABLE>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each of the directors of the Registrant has entered into an
Indemnification Agreement with the Registrant pursuant to which the Registrant
is, subject to the limitations in the following sentence, obligated to
indemnify the directors to the fullest extent provided by law, notwithstanding
such indemnification is not specifically being provided in the Registrant&#146;s
Articles, Bylaws or by statute. The Registrant is not obligated under the
Indemnification Agreement to indemnify directors for the following: acts or
omission or transactions from which a director may not be relieved from
liability under Section&nbsp;204 of the California General Corporation Law, a
proceeding or action instituted by an appropriate bank regulatory agency,
claims initiated by such director except with respect to proceedings to enforce
a right of indemnification unless the Board has approved the initiation or
bringing of such suit, a proceeding instituted by a director to enforce the
Indemnification Agreement which is found by a court of competent jurisdiction
to be not in good faith or frivolous, insured claims or claims under Section
16(b) of the Securities Exchange Act of 1934.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The foregoing indemnification provisions are broad enough to encompass
certain liabilities of directors under the Securities Act of 1933, as amended.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Bylaws authorize the Registrant to purchase and maintain insurance on
behalf of any person who is or was an agent of the Registrant against any
liability asserted against or incurred by such person in such capacity or
arising out of such person&#146;s status as such, whether or not the Registrant
would have the power to indemnify him against such liability under the
provisions of the Bylaws.
</FONT>
<!-- link2 "Item&nbsp;7. Exemption from Registration Claimed" -->
<DIV align="left"><A NAME="006"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;7. Exemption from Registration Claimed</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</FONT>
<!-- link2 "Item&nbsp;8. Exhibits" -->
<DIV align="left"><A NAME="007"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;8. Exhibits</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following is a complete list of exhibits filed as part of this Registration
Statement.
</FONT>
<P align="center"><FONT size="2">4
</FONT>

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<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
        <TD width="5%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="90%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><FONT size="1">Exhibit</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><FONT size="1">Number</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="left"><FONT size="1">Description</FONT></TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><HR size="1" noshade></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">23.02</FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
Consent of Moss Adams LLP.</FONT></DIV></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">23.03</FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
Consent of Grant Thornton LLP</FONT></DIV></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">24.01</FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
Powers of Attorney (contained within Signature Page)</FONT></DIV></TD>
</TR>
</TABLE>
</CENTER>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registrant will submit the Plan and any amendments thereto to the
Internal Revenue Service (&#147;IRS&#148;) in a timely manner and has made or will make
all changes required by the IRS in order to qualify the Plan.
</FONT>
<!-- link2 "Item&nbsp;9. Undertakings" -->
<DIV align="left"><A NAME="008"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;9. Undertakings</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned Registrant hereby undertakes:
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp; (1)&nbsp;To file, during any period in which offers or sales are being
made, a post-effective amendment to this Registration Statement:
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;To include any prospectus required by Section&nbsp;10(a)(3) of the
Securities Act of 1933, as amended;
</FONT>

<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;To reflect in the prospectus any facts or events arising after the
effective date of the Registration Statement (or the most recent post-effective
amendment thereof) which, individually or in the aggregate, represent a
fundamental change in the information set forth in the Registration Statement;
and
</FONT>

<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;To include any material information with respect to the plan of
distribution not previously disclosed in the Registration Statement or any
material change to such information in the Registration Statement;
</FONT>

<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;That, for the purpose of determining any liability under the
Securities Act of 1933, as amended, 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 align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&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><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp; That, for purposes of determining any liability under the Securities
Act of 1933, as amended, each filing of the Registrant&#146;s annual report pursuant
to Section&nbsp;13(a) or Section&nbsp;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
</FONT>
<P align="center"><FONT size="2">5
</FONT>

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<P><FONT size="2">initial bona fide offering thereof.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insofar as indemnification for liabilities arising under the Securities
Act of 1933, as amended (the &#147;Act&#148;), may be permitted to directors, officers
and controlling persons of the Registrant pursuant to the foregoing provisions
or otherwise, the Registrant has been advised that in the opinion of the
Securities and Exchange Commission such indemnification is against public
policy as expressed in the Act, and is, therefore, unenforceable. In the event
that a claim for indemnification against such liabilities (other than the
payment by the Registrant of expenses incurred or paid by a director, officer
or controlling person of the Registrant in the successful defense of any
action, suit or proceeding) is asserted by such director, officer or
controlling person in connection with the securities being registered, the
Registrant will, unless in the opinion of its counsel the matter has been
settled by controlling precedent, submit to a court of appropriate jurisdiction
the question whether such indemnification by it is against public policy as
expressed in the Act and will be governed by the final adjudication of such
issue.
</FONT>
<P align="center"><FONT size="2">6
</FONT>

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<!-- link1 "SIGNATURE" -->
<DIV align="left"><A NAME="009"></A></DIV>
<P align="center"><FONT size="2"><B>SIGNATURE</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, as amended,
the Registrant certifies that it has reasonable grounds to believe that it
meets all the requirements for filing on Form&nbsp;S-8 and has duly caused this
Registration Statement to be signed on its behalf by the undersigned, thereunto
duly authorized in the City of San Francisco, State of California, on
January&nbsp;22, 2002.
</FONT>

<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR>
        <TD width="50%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="49%">&nbsp;</TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD colspan="2"><FONT size="2">AMERICAN SHARED HOSPITAL SERVICES</FONT></TD>
</TR>

<TR><TD>&nbsp;<BR>&nbsp;</TD></TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">By:&nbsp;</FONT></TD>
        <TD><FONT size="2">/s/ ERNEST A. BATES, M.D.</FONT></TD>
</TR>
<TR>
        <TD colspan="2"><FONT size="1">&nbsp;</FONT></TD>
        <TD><HR size="1" noshade color="#000000"></TD>
</TR>
<TR valign="top">
        <TD colspan="2">&nbsp;</TD>
        <TD><FONT size="2">
Ernest A. Bates, M.D.<BR>
Chairman of the Board and<BR>
Chief Executive Officer</FONT></TD>
</TR>
</TABLE>

<P align="center"><FONT size="2">7
</FONT>

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<P align="center"><FONT size="2"><B>POWER OF ATTORNEY</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KNOW ALL MEN BY THESE PRESENTS, that each person whose signature appears
below constitutes and appoints Ernest A. Bates, his true and lawful
attorney-in-fact and agent, with full power of substitution and resubstitution,
for him and in his name, place, and stead, in any and all capacities, to sign
any and all amendments (including post-effective amendments) to this
Registration Statement on Form&nbsp;S-8 and to file the same, with all exhibits
thereto, and other documents in connection therewith, with the Securities and
Exchange Commission, granting unto said attorney-in-fact and agent, full power
and authority to do and perform each and every act and thing requisite and
necessary to be done in and about the premises, to all intent and purposes and
as full as they might or could do in person, hereby ratifying and confirming
all that said attorney-in-fact and agent, or his substitute, may lawfully do or
cause to be done by virtue hereof.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, as amended,
this Registration Statement has been signed by the following persons in the
capacities and on the dates indicated.
</FONT>
<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
        <TD width="30%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="45%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="15%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><FONT size="1">Signature</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><FONT size="1">Title</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><FONT size="1">Date</FONT></TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><HR size="1" noshade></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><HR size="1" noshade></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><HR size="1" noshade></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;<BR>
<HR size="1" noshade>
Ernest A. Bates, M.D.</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Chairman of the Board, Chief
Executive Officer and Director
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">January 22,
2002</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR>
        <TD valign="top"><FONT size="2">&nbsp;<BR>
<HR size="1" noshade>
Willie R. Barnes</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Director and Secretary
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">January 22,
2002</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR>
        <TD valign="bottom"><FONT size="2">&nbsp;<BR>
<HR size="1" noshade>
John F. Ruffle</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Director
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">January 22,
2002</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR>
        <TD valign="bottom"><FONT size="2">&nbsp;<BR>
<HR size="1" noshade>
Stanley S. Trotman, Jr.</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Director
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">January 22,
2002</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR>
        <TD valign="bottom"><FONT size="2">&nbsp;<BR>
<HR size="1" noshade>
Charles B. Wilson, M.D.</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Director
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">January 22,
2002</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR valign="bottom">
        <TD valign="bottom"><FONT size="2">&nbsp;<BR>
<HR size="1" noshade>
Craig K. Tagawa</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Chief Operating Officer and
Chief Financial Officer
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">January 22,
2002</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P align="center"><FONT size="2">8
</FONT>

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<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, the persons
who administer the American Shared Hospital Services 401(k) Plan and Trust have
duly caused this registration statement to be signed on their behalf by the
undersigned thereunto duly authorized in the City of San Francisco, State of
California, on this 22nd day of January 2002.
</FONT>

<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR>
        <TD width="50%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="49%">&nbsp;</TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD colspan="2"><FONT size="2">AMERICAN SHARED HOSPITAL SERVICES<BR>
401(k) PLAN AND TRUST</FONT></TD>
</TR>

<TR><TD>&nbsp;<BR>&nbsp;</TD></TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">By:&nbsp;</FONT></TD>
        <TD><FONT size="2">/s/ ERNEST A. BATES, M.D.</FONT></TD>
</TR>
<TR>
        <TD colspan="2"><FONT size="1">&nbsp;</FONT></TD>
        <TD><HR size="1" noshade color="#000000"></TD>
</TR>
<TR valign="top">
        <TD colspan="2">&nbsp;</TD>
        <TD><FONT size="2">
Ernest A. Bates, M.D.<BR>
Chairman of the Board and<BR>
Chief Executive Officer<BR>
Plan Trustee</FONT></TD>
</TR>
</TABLE>

<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR>
        <TD width="50%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="49%">&nbsp;</TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">By:&nbsp;</FONT></TD>
        <TD><FONT size="2">/s/ CRAIG K. TAGAWA</FONT></TD>
</TR>
<TR>
        <TD colspan="2"><FONT size="1">&nbsp;</FONT></TD>
        <TD><HR size="1" noshade color="#000000"></TD>
</TR>
<TR valign="top">
        <TD colspan="2">&nbsp;</TD>
        <TD><FONT size="2">
Craig K. Tagawa<BR>
Chief Operating Officer and<BR>
Chief Financial Officer<BR>
Plan Trustee</FONT></TD>
</TR>
</TABLE>



<P align="center"><FONT size="2">9</FONT>


</BODY>
</HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.02
<SEQUENCE>3
<FILENAME>f78433ex23-02.txt
<DESCRIPTION>EXHIBIT 23.02
<TEXT>
<PAGE>

                                  EXHIBIT 23.02

                            CONSENT OF MOSS ADAMS LLP


<PAGE>

                    CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS


        We hereby consent to the incorporation by reference in this Registration
Statement of American Shared Hospital Services on Form S-8 of our report dated
January 12, 2001, appearing in the Annual Report on Form 10-K for the year ended
December 31, 2000.





/s/ MOSS ADAMS LLP
- ---------------------------
San Francisco, California

January 22, 2002



</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.03
<SEQUENCE>4
<FILENAME>f78433ex23-03.txt
<DESCRIPTION>EXHIBIT 23.03
<TEXT>
<PAGE>

                                  EXHIBIT 23.03

                          CONSENT OF GRANT THORNTON LLP


<PAGE>

                    CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS


        We hereby consent to the incorporation by reference in this Registration
Statement of American Shared Hospital Services on Form S-8 of our report dated
March 12, 1999, appearing in the Annual Report on Form 10-K for the year ended
December 31, 2000.





/s/ GRANT THORNTON LLP
- ---------------------------
San Francisco, California

January 22, 2002




</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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