Filed by sedaredgar.com - Response Biomedical Corp. - Exhibit 4.15






RESPONSE BIOMEDICAL CORPORATION 
SHORT-TERM INCENTIVE PLAN
(Approved by the Board of
Directors April 3, 2007 
and revised march 18, 2008)

Overview

The short-term incentive plan is an annual plan under which a
cash incentive is paid to eligible employees following the end of the Company’s
fiscal year. Incentive amounts will be based on the degree of achievement of
corporate goals and objectives established at the beginning of the fiscal
period.

Objectives

The objectives for the plan are to:

	 	1. 	
      ensure focus on critical Company objectives and goals
      that support the achievement of the Company’s mission;

	 	2. 	
      ensure alignment of both team and individual objectives
      and activities with those identified for the Company;

	 	3. 	
      ensure individual rewards are linked to the performance
      of the Company to predetermined goals and metrics; and,

	 	4. 	
      motivate and reward strong team and individual
      performance.



Corporate Goals

Corporate goals will consist of both financial and
non-financial metrics. They will be established by the Senior Management Team
and communicated throughout the Company at the beginning of the fiscal year. The
Company reserves the right to revise corporate goals at any time, based on
changing business needs.

Goals will be defined which directly align to the Company’s
priorities in support of its mission to be an excellent developer and supplier
of near-patient health critical tests that enable our commercial partners to be
leaders in their markets.

Incentive Payment Amounts

The Senior Management Team will review Company and individual
performance based on their contribution towards defined Company performance
metrics. Recommendations for the amount of incentive to b paid to each employee
each year will then be forwarded to the Board of Directors for final
approval.

Company performance metrics will be reviewed monthly, as part
of the Sales & Operations Planning process. Incentive payments will be
calculated based on actual earnings during the year, and issued once final
year-end results are available.

The Board will consider uncontrollable and unknown factors and
changes to the business plan and targets in considering final incentive
payments, with the intention of 

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ensuring that the plan is administered fairly and serves its
ultimate purpose to focus and engage employees toward the achievement of the
Company’s goals and achievement of its mission.

Eligible Employees

The plan will included all employees who:

	have successfully completed their 3-month probationary period as of
  December 31;
  
	are not under a performance improvement plan (i.e. under performance
  probation) at the time incentive payments are calculated; and,
  
	are actively employed by the Company on the date that the incentive
  payments are made (expected to be March of the following year). 


Target Incentives

Market data has been reviewed to determine target incentive
amounts. The percentages noted refer to the percent of base salary earned during
the incentive period.


	Position / Level 	Target Incentive 
	
      CEO 
	30% 
	Vice-President 	25% 
	Director 	20% 
	Manager 	15% 
	Supervisor/Team Lead 	10% 
	Staff 	5% 


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