Document:

EX-10.2

LIONBRIDGE TECHNOLOGIES, INC.

INDPEPENDENT DIRECTORS’ COMPENSATION POLICY

Amended and Restated as of May 21, 2007

Each non-employee member of the Board of Directors of Lionbridge Technologies, Inc. who directly
holds less than 1% of the Company’s outstanding common stock (an “Eligible Director”) shall receive
compensation made up of (i) an annual retainer payable in cash and through a restricted stock unit
(the “Retainer”), (ii) an initial grant of stock options upon election to the Board (the “Initial
Option Grant”) and (iii) an annual grant of stock options (the “Annual Option Grant”).

In addition, each Eligible Director who serves on the Audit Committee shall receive an annual
cash retainer in connection with such service (the “Audit Retainer”).

Chairmen of the Audit Committee and the Nominating and Compensation Committee shall receive an
additional annual retainer (the “Audit Chairman Retainer” and the “Nominating and Compensation
Chairman Retainer”).

All non-employee directors shall be entitled to travel expense reimbursement and shall be covered
by the provisions of the Company’s charter and bylaws with respect to liability.

Annual Retainer.

Each Eligible Director shall receive an annual cash retainer in the amount of $25,000 and an annual
equity retainer in the form of Restricted Stock Units with a value on the date of grant of $25,000,
determined based on the closing stock price of the Company’s common stock on the date of grant.
This Cash Retainer will be paid annually in advance on the date of the Company’s Annual Meeting of
Stockholders to each Eligible Director and the Restricted Stock Units will be granted annually in
advance on the date of the Company’s Annual Meeting of Stockholders to each Eligible Director.

Deferred Compensation Plan

Each Eligible Director shall have the option to defer all or a portion of his or her annual cash or
equity retainer, and any committee retainer, in the Company’s Deferred Compensation Plan for
Independent Directors.

Initial Option Grant. 

On the date of election to his or her first term as a director, each Eligible Director shall
automatically be granted a stock option to purchase 20,000 shares of common stock of the Company
and the Annual Option described below. The exercise price of this Initial Option shall be equal to
fair market value of the Company’s stock on the date of grant and the Initial Option shall vest
over two years from the date of grant at the rate of 50% on each of the first and second
anniversaries of the date of grant. The Initial Option shall be issued under the terms and
provisions of any of the Company’s then existing equity plans that have been approved by the
Company’s stockholders. The Initial Option shall have a term of 5 years.

Annual Option Grant. 

On the date of the Company’s Annual Meeting of Stockholders, each Eligible Director shall
automatically be granted a stock option to purchase 10,000 shares of common stock of the Company.
The exercise price of this Annual Option shall be equal to fair market value of the Company’s stock
on the date of grant and the Annual Option shall vest over two years from the date of grant from
the date of grant at the rate of 50% on each of the first and second anniversaries of the date of
grant. The Annual Option shall be issued under the terms and provisions of any of the Company’s
then existing equity plans that have been approved by the Company’s stockholders. The Annual
Option shall have a term of 5 years.

Audit Retainer.

In addition to the Annual Retainer, each Eligible Director (other than the Audit Committee
Chairman) serving on the Audit Committee shall receive an annual cash retainer in the amount of
$5,000. This Audit Retainer will be paid annually in advance on the date of the Company’s Annual
Meeting of Stockholders to each Eligible Director.

Audit Chairman Retainer. 

The Chairman of the Audit Committee shall receive an annual cash retainer in the amount of $15,000,
in addition to the Annual Retainer. This Audit Chairman Retainer will be paid annually in advance
on the date of the Company’s Annual Meeting of Stockholders.

Nominating and Compensation Chairman Retainer. 

The Chairman of the Nominating and Compensation Committee shall receive an annual cash retainer in
the amount of $10,000, in addition to the Annual Retainer. This Nominating and Compensation
Committee Chairman Retainer will be paid annually in advance on the date of the Company’s Annual
Meeting of Stockholders.

Expense Reimbursement.

All directors shall be reimbursed for reasonable travel expenses in connection with attendance at
meetings of the Company’s Board of Directors and its committees. Commercial airfare reimbursement
is limited to coach fare.

Directors’ Liability.

The Company’s Amended and Restated Certificate of Incorporation provides that no director of the
Company shall be personally liable to the Company or its stockholders for monetary damages for
breach of fiduciary duty as a director. There are exceptions to these protections in the case of
any of the following:

	 	•	 	Breach of the director’s duty of loyalty to the Company or its stockholders;

	 	•	 	Acts or omissions not in good faith or which involve intentional misconduct or a
knowing violation of law;

	 	•	 	Under Section 174 of the General Corporation Law of Delaware (relating to unlawful
declaration of dividends and unlawful purchase of the Company’s stock)

	 	•	 	Any transaction from which the director derived an improper personal benefit.

The Company has and does maintain Directors’ and Officers’ liability insurance coverage with a
$20,000,000 limit.

Change of Control.

Upon the closing of a Change of Control of the Company (as such term is defined in the Company’s
Change of Control Plan) any outstanding but unvested Option or RSU shall become fully vested and
exercisable.

Effective Date: May 21, 2007EX-10.3

LIONBRIDGE TECHNOLOGIES, INC.

DEFERRED COMPENSATION PLAN FOR

INDEPENDENT DIRECTORS

(Effective May 21, 2007)

1. Purpose.

The purpose of the Lionbridge Technologies, Inc. Deferred Compensation Plan for Independent
Directors (the “Plan”) is to further the long-term growth of Lionbridge Technologies, Inc. (the
“Company”) by allowing the independent directors of the Company the opportunity to defer certain
compensation, keeping their financial interests aligned with the Company, and providing them with a
long-term incentive to continue providing services to the Company. The Plan permits Eligible
Directors to defer all or part of their Eligible Compensation (each as defined below).

This Plan is intended to comply with section 409A of the Internal Revenue Code of 1986, as
amended (the “Code”), and the Treasury Regulations and other guidance issued thereunder.
Notwithstanding any other provision of this Plan, this Plan shall be interpreted, operated and
administered in a manner consistent with this intention.

2. Effective Date.

The Plan is effective May 21, 2007.

3. Definitions.

In addition to the terms defined above, the following terms shall have the meanings indicated
below.

Account – means a bookkeeping account established by the Company for each Participant
electing to defer Eligible Compensation under the Plan, which may include sub-accounts for amounts
payable at different times and/or payable in different forms.

Affiliate – means any corporation or other entity that is treated as a single employer
with the Company under Code section 414.

Board – means the Board of Directors of the Company.

Cash Sub-Account – means the sub-account of each Participant’s Account that is treated
as holding the Cash Retainer portion of such Participant’s deferred Eligible Compensation.

Cash Retainer – means the amount of annual retainer payable in cash for service on the
Board, including any annual retainer payable for service as a chair or member of any Board
committee that is permitted or required to be paid in cash.

Change in Control – means a “change in control” as defined in the Company’s Change in
Control Plan, provided that such definition constitutes a change in control within the meaning of
Code section 409A.

Common Stock – means the Common Stock, $0.01 par value, of the Company.

Eligible Director – means a member of the Board who is not an officer or employee of
the Company or any Affiliate and who directly holds less than 1% of the Company’s outstanding
common stock and who otherwise qualifies as an “Eligible Director” under the Company’s Independent
Directors’ Compensation Policy.

Eligible Compensation – means both the Cash Retainer and Equity Retainer.

Equity Sub-Account – means the sub-account of each Participant’s Account that is
treated as holding the Equity Retainer portion of such Participant’s deferred Eligible
Compensation.

Equity Retainer – means the amount of annual retainer payable in Restricted Stock
Units (“RSUs”) or such other equity-based award as is set forth in the Company’s Independent
Directors’ Compensation Policy, for service on the Board, including any annual retainer payable for
service as a chair or member of any Board committee that is permitted or required to be paid in
equity.

New Director – means an Eligible Director who was not eligible to participate in the
Plan (or any other plan sponsored by the Company or any Affiliate, which may be aggregated with the
Plan under Code section 409A) prior to becoming a Director; provided, all Eligible Directors
providing services to the Company as of the Effective Date shall be deemed to be New Directors for
purposes of making an initial election pursuant to Section 5.1(b)(ii) with respect to Eligible
Compensation otherwise payable or issued at the May 21, 2007, Annual Meeting of Stockholders.

Open Enrollment – means the period during each Plan Year when Eligible Directors may
elect to defer amounts under the Plan. Open Enrollment shall normally be held during the month of
December of each Plan Year.

Participant – means an Eligible Director who elects to defer Eligible Compensation
under the Plan.

Plan Administrator – means Nominating and Compensation Committee of the Board, or its
delegate or delegates appointed to administer the Plan.

Plan Year – means the 12-month period from January 1 to December 31.

Separation from Service – means a “separation from service” with the Company and its
Affiliates within the meaning of Code section 409A.

VP – HR – means the senior officer in charge of the Human Resources department,
currently the Senior Vice President, Human Resources.

4. Participation.

4.1 An Eligible Director becomes a Participant in the Plan on the date he or she first enrolls
in the Plan by electing to defer Eligible Compensation in accordance with Section 5.1(b).

4.2 An Eligible Director who has been a Participant under the Plan will cease to be a
Participant on the date his or her Account is fully distributed.

5. Participant Accounts.

5.1 Elections to Defer Eligible Compensation.

(a) Initial Deferral Election. An Eligible Director may make an irrevocable election
to defer the following types of Eligible Compensation in one (1) percent increments up to the
specified maximum percentage:

(i) An Eligible Director may elect to defer up to 100% of his or her Cash Retainer, subject to
subparagraph 5.1(b)(ii) below.

(ii) An Eligible Director may elect to defer up to 100% of his or her Equity Retainer.

(b) Time and Manner of Making an Initial Election.

(i) An Eligible Director may make an irrevocable election to defer one or more types of
Eligible Compensation during the Open Enrollment period that occurs in the Plan Year preceding the
Plan Year in which the Eligible Compensation is earned, in accordance with Treasury Regulations
section 1.409A-2(a)(3).

(ii) A New Director may make an irrevocable election to defer one or more types of Eligible
Compensation, provided such election is made within thirty (30) days of becoming a New Director and
such election shall, with respect to the deferral of any portion of the Cash Retainer, only apply
to amounts earned after the election is filed, in accordance with Treasury Regulations section
1.409A-2(a)(7). For the avoidance of doubt, an election by a New Director to defer his or her Cash
Retainer would result in less than 100% of such Cash Retainer being deferred, if the election were
made after the date on which the individual became a New Director, because any portion of the Cash
Retainer earned prior to the election may not be deferred. However, because amounts payable as an
Equity Retainer are subject to a substantial risk of forfeiture for at least 12 months following
the election period for a New Director, all of the Equity Retainer is eligible for deferral in
accordance with the terms of this Plan.

(iii) A deferral election shall be made in accordance with procedures established by the Plan
Administrator.

(iv) A deferral election made pursuant to election form shall continue in effect for each
succeeding Plan Year until modified by the Participant. No modification of a deferral election
shall be given effect with respect to a Plan Year to which the modification is intended to apply
unless that modification is made prior to the beginning of that Plan Year. An election form shall
be irrevocable for a Plan Year as of the first day of such Plan Year; provided that an election
form for New Directors shall be irrevocable at the end of the thirty-day period beginning on the
date that the individual becomes a New Director.

5.2 Crediting of Deferrals. Eligible Compensation deferred by a Participant under the
Plan shall be credited to the Participant’s Account as soon as practicable after the amounts would
have otherwise been paid to the Participant. For the avoidance of doubt, amounts subject to a
substantial risk of forfeiture (i.e., vesting) are credited to a Participant’s Account upon the
lapsing of the risk of forfeiture. Any amount of the Cash Retainer that is deferred pursuant to the
Plan shall be credited to the Participant’s Cash Sub-Account. The amounts in the Cash Sub-Account
shall not be invested. Any portion of the Equity Retainer that is deferred pursuant to the Plan
shall be credited to the Participant’s Equity Sub-Account. Amounts credited to a Participant’s
Equity Sub-Account shall be deemed immediately invested in shares of Common Stock. Any dividends
which would have been received had such amount actually been invested in shares of Common Stock
will be credited to the Participant’s Cash Sub-Account. Nothing in this Section or otherwise in the
Plan, however, will require the Company to actually invest any amounts credited to a Participant’s
Account in shares of Common Stock or otherwise.

5.3 Vesting. A Participant shall at all times be one-hundred (100) percent vested in
any amounts credited to his or her Account.

5.4 Adjustments upon Changes in Capitalization. If any change is made to the shares of
Common Stock without the Company’s receipt of consideration, appropriate adjustments shall be made
to the number and/or class of securities credited to a Participant’s Account under the Plan in the
same manner and to the same extent that adjustments are made to the maximum number and/or class of
securities issuable under the Company’s 2005 Stock Incentive Plan.

6. Distribution of Account Balances.

6.1 Distribution Form.

(a) In the event a Participant elects to have the distribution of a deferred amount (and
dividends thereon) commence thirty (30) days following the date of his or her Separation from
Service or a Change in Control pursuant to Section 6.2(a)(i) or (ii), the Participant may elect to
have the deferred amount (and dividends thereon) distributed in a lump sum payment or in equal
annual installments over a period of up to ten (10) years. Such election must be made at the time
of making the initial deferral election under Section 5.1.

(b) In the event a Participant fails to specify the form in which a deferred amount (and
dividends thereon) will be distributed at the time of making an initial deferral election under
Section 5.1, or if a Participant elects to receive a distribution other than pursuant to
Section 6.2(a)(i) or (ii), the Participant shall receive such deferred amount (and dividends
thereon) in a lump sum payment.

(c) Distribution of a Participant’s Equity Sub-Account balance shall be made in Common Stock;
provided, however, any fractional shares of Common Stock credited to the Participant’s Account
shall be paid in cash.

(d) Distribution of a Participant’s Cash Sub-Account balance shall be made in cash, without
interest or earnings, by check, direct deposit, or otherwise.

6.2 Distribution Time.

(a) A Participant may elect to have the distribution of a deferred amount (and dividends
thereon) commence thirty (30) days following: (i) the date of the Participant’s Separation from
Service; (ii) the date of a Change in Control of the Company; (iii) any annual anniversary of
either (i) or (ii) above, up to and including the tenth anniversary of such event; or (iv) a
specified date or, if earlier, the tenth anniversary of (i) or (ii) above (provided that the
specified date must be at least twelve (12) months after the date on which the final payment of the
deferred amount would have been made to the Participant absent deferral).

(b) A Participant must elect the date on which distributions will commence at the time of
making the initial deferral election under Section 5.1. In the event a Participant fails to elect
the date on which a distribution will commence at the time of making an initial deferral election
under Section 5.1, the Participant shall receive the distribution in a lump sum thirty (30) days
following the earlier of the date of the Participant’s Separation from Service or a Change in
Control of the Company.

6.3 Distributions upon Death.

(a) In the event a Participant dies prior to the distribution of his or her entire Account
balance, the remaining Account balance shall be distributed to the Participant’s beneficiary in
accordance with the Participant’s elections under Sections 6.1 and 6.2 above.

(b) A Participant shall designate his or her beneficiary prior to death in accordance with
procedures established by the Plan Administrator. If a Participant has not properly designated a
beneficiary, or if no designated beneficiary is living on the date of any distribution, such amount
shall be distributed to the Participant’s estate.

(c) For purposes of determining the proper death beneficiary under this Plan, this Plan shall
not be interpreted as preempting applicable state law regarding the ownership rights of Accounts
upon a Participant’s death. For example, although this Plan states that upon a Participant’s death,
Account balances will be paid to his or her beneficiary, the personal representative will be
obligated to pay any benefits owed to a spouse or otherwise as a result of any applicable community
property laws.

6.4 Payment Date. Distributions shall be paid in accordance with this Section 6 and
the applicable election form and shall not be accelerated or deferred by either the Company or the
Participant.

7. Administration.

The Plan Administrator shall be responsible for the operation and administration of the Plan
and for carrying out the provisions hereof. The Plan Administrator shall have the full authority
and discretion to make, amend, interpret, and enforce all appropriate rules and regulations for the
administration of this Plan and decide or resolve any and all questions, including interpretations
of this Plan, as may arise in connection with this Plan. Any such action taken by the Plan
Administrator shall be final and conclusive on any party. To the extent the Plan Administrator has
been granted discretionary authority under the Plan, the Plan Administrator’s prior exercise of
such authority shall not obligate it to exercise its authority in a like fashion thereafter. The
Plan Administrator shall be entitled to rely conclusively upon all tables, valuations,
certificates, opinions and reports furnished by any actuary, accountant, controller, counsel or
other person employed or engaged by the Company with respect to the Plan. The Plan Administrator
may, from time to time, employ agents and delegate to such agents, including the VP-HR or other
employees of the Company, such administrative duties as it sees fit, and the VP-HR is expressly
delegated the authority to take all actions necessary to implement the Plan in accordance with the
terms approved by the Board and the Nominating and Compensation Committee of the Board.

8. Amendment and Termination.

8.1 Amendment or Termination. The Company reserves the right to amend or terminate the
Plan when, in the sole discretion of the Company, such amendment or termination is advisable,
pursuant to a resolution or other action taken by the Board or the Nominating and Compensation
Committee of the Board, provided that the Board or Nominating and Compensation Committee may
delegate the authority to amend the Plan to the VP – HR from time to time.

8.2 Effect of Amendment or Termination. No amendment or termination of the Plan shall
decrease the amounts credited to a Participant’s Account as of such amendment or termination. Upon
termination of the Plan, Participants’ Account balances shall be distributed in accordance with
Sections 6.1 through 6.3, unless the Company determines in its sole discretion that all such
amounts shall be distributed upon termination in accordance with the requirements under Code
section 409A.

8.3 Constructive Receipt Termination. If amounts deferred under the Plan must be
included in income under Code section 409A prior to the scheduled distribution of such amounts,
distribution of such amount shall be made to Participants.

9. General Provisions

9.1 Rights Unsecured. The right of a Participant or his or her beneficiary to receive
a distribution hereunder shall be an unsecured claim against the general assets of the Company, and
neither the Participant nor his or her beneficiary shall have any rights in or against any amount
credited to any Account or any other specific assets of the Company. The Plan at all times shall be
considered entirely unfunded for tax purposes. Any funds set aside by the Company for the purpose
of meeting its obligations under the Plan, including any amounts held by a trustee, shall continue
for all purposes to be part of the general assets of the Company and shall be available to its
general creditors in the event of the Company’s bankruptcy or insolvency. The Company’s obligation
under this Plan shall be that of an unfunded and unsecured promise to pay money in the future.

9.2 Construction of Plan. Nothing in this Plan shall be construed to give any Director
any right to receive Eligible Compensation or any other type of compensation. No Participant or
beneficiary shall have any right to receive a distribution under the Plan except in accordance with
the terms of the Plan. Establishment of the Plan shall not be construed to give any Participant the
right to be retained as a member of the Board. Nothing contained in the Plan shall constitute a
guarantee by the Company or any other person or entity that the assets of the Company will be
sufficient to pay any benefits hereunder. In the event any provision of the Plan shall be held
invalid or illegal for any reason, any illegality or invalidity shall not affect the remaining
parts of the Plan, but the Plan shall be construed and enforced as if the illegal or invalid
provision had never been inserted. Words in the masculine gender shall include the feminine and the
singular shall include the plural, and vice versa, unless qualified by the context. Any headings
used herein are included for ease of reference only, and are not to be construed so as to alter the
terms hereof.

9.3 Nonalienation of Benefits. This Plan inures to the benefit of and is binding upon
the parties hereto and their successors, heirs and assigns; provided, however, that the amounts
credited to a Participant’s Account are not, except as provided in Section 9.4, subject in any
manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, charge,
garnishment, execution or levy of any kind, either voluntary or involuntary, and any attempt to
anticipate, alienate, sell, transfer, assign, pledge, encumber, charge or otherwise dispose of any
right to any benefits payable hereunder, will be null and void and not binding on the Plan or the
Company.

9.4 Taxes. The Company or other payor may withhold from a benefit payment under the
Plan or a Participant’s Eligible Compensation any federal, state, or local taxes required by law to
be withheld with respect to a payment or accrual under the Plan, and shall report such payments and
other Plan-related information to the appropriate governmental agencies as required under
applicable law.

9.5 Delivery of Shares. The obligation of the Company to issue shares of Common Stock
under this Plan shall be subject to all applicable laws, rules and regulations, including all
applicable federal and state securities laws, and the obtaining of all such approvals by
governmental agencies as may be deemed necessary or appropriate by the Plan Administrator.

9.6 Participant’s Cooperation. The Participant shall cooperate with the Company by
furnishing any and all information requested by the Plan Administrator in order to facilitate the
payment of benefits hereunder. If the Participant refuses to cooperate, the Company shall have no
further obligation to the Participant under the Plan.

9.7 Incapacity of Recipient. If any person entitled to a distribution under the Plan
is deemed by the Plan Administrator to be incapable of personally receiving and giving a valid
receipt for such payment, then, unless and until a claim for such payment shall have been made by a
duly appointed guardian or other legal representative of such person, the Plan Administrator may
provide for such payment or any part thereof to be made to any other person or institution then
contributing toward or providing for the care and maintenance of such person. Any such payment
shall be a payment for the account of such person and a complete discharge of any liability of the
Company and the Plan with respect to the payment.

9.8 Legally Binding. In the event of any consolidation, merger, acquisition or
reorganization, the obligations of the Company under this Plan shall continue and be binding on the
Company and its successors or assigns. The rights, privileges, benefits and obligations under the
Plan are intended to be legal obligations of the Company and binding upon the Company, its
successors and assigns.

9.9 Unclaimed Benefits. Each Participant shall keep the Plan Administrator informed of
his or her current address and the current address of his or her designated beneficiary. The Plan
Administrator shall not be obligated to search for the whereabouts of any person if the location of
a person is not made known to the Plan Administrator.

9.10 Applicable Law and Venue. The Plan shall be governed by the laws of the State of
Delaware.

9.11 Waiver of Breach. The waiver by the Company of any breach of any provision of the
Plan by a Participant shall not operate or be construed as a waiver of any subsequent breach by the
Participant.

9.12 Notice. Any notice or filing required or permitted to be given to the Plan
Administrator under the Plan shall be sufficient if in writing and hand-delivered, or sent by first
class mail to the principal office of the Company, directed to the attention of the Plan
Administrator. Such notice shall be deemed given as of the date of delivery, or, if delivery is
made by mail, as of the date shown on the postmark.

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