Document:

Unassociated Document

    
      Exhibit
10.2

      

      IDEXX
Laboratories, Inc.

      

      DIRECTOR
DEFERRED COMPENSATION PLAN

      

      Restated
Effective as of May 6, 2009

      

      The
Director Deferred Compensation Plan of IDEXX Laboratories, Inc. (the “Plan”) was
initially established effective July 1, 2003 to provide an additional mechanism
for satisfying stock ownership guidelines, as well as to provide a vehicle for
non-employee Directors to defer the receipt of taxable income. The Plan is
intended to be an “unfunded” plan maintained for the purpose of providing
deferred compensation to non-employee members of the Board of Directors for
purposes of Title I of the Employee Retirement Income Security Act of
1974.  The Plan was amended and restated in its entirety, effective
January 1, 2005, primarily for the purpose of complying with the applicable
requirements of Section 409A of the Internal Revenue Code of 1986 (the “Code”),
and Proposed Regulations §§ 1.409A-1 et seq., and the Company operated the Plan
in good faith compliance with Code Section 409A and the restated Plan document
since that time.  The Plan was also amended and restated in its
entirety, effective January 1, 2008, for the purpose of continuing compliance
with Section 409A of the Code and Final Regulations §§1.409A-1 et
seq.  The Plan is now restated in its entirety, effective May 6, 2009,
for the purpose of replacing a reference to the 2003 Stock Incentive Plan with
the 2009 Stock Incentive Plan, which superseded the 2003 Stock Incentive Plan on
May 6, 2009.

      

      ARTICLE
I

      DEFINITIONS

      

      Unless
the context otherwise requires, the following words and phrases as used herein
shall have the following meanings:

      

      Section
1.1 “ACCOUNT” means the bookkeeping Account maintained for a Participant to
which Deferrals (including all Deferrals denominated as Deferred Stock Units)
and Annual Grants, plus any earnings thereon, are credited.

      

      Section
1.2 “ANNUAL RETAINER” means the annual cash retainer paid by the Company to
Directors.

      

      Section
1.3 “BENEFICIARY” means the person that the Participant designates to receive
any unpaid portion of the Participant's Account balance should the Participant's
death occur before the Participant receives the entire Account balance. If the
Participant does not designate a beneficiary, his Beneficiary shall be his
spouse if he is married at the time of his death, or his estate if he is
unmarried at the time of his death.

      

      Section
1.4 “BOARD OF DIRECTORS” means the Board of Directors of IDEXX Laboratories,
Inc.

      

      Section
1.5 “CHANGE IN CONTROL” means, solely for purposes of this Plan, the occurrence
of one or more of the following events with respect to the Company:

      

      (a)           Any
one person, or more than one person acting as a group, acquires (or has acquired
during the 12-month period ending on the date of the most recent acquisition by
such person or persons) beneficial ownership, directly or indirectly, of stock
of the Company possessing 35% or more of the total voting power of the stock of
the Company; or

      

      (b)           Individuals
constituting a majority of the members of the Company’s Board of Directors are
replaced during any 12-month period by new directors whose appointment or
election is not approved by a majority of the members of the Company’s Board of
Directors serving immediately before the appointment or election of any such new
directors; or

      

       (c)           A
change in the ownership of a substantial portion of the Company’s assets occurs
on the date that any one person, or more than one person acting as a group,
acquires (or has acquired during the 12-month period ending on the date of the
most recent acquisition by such person or persons) assets from the Company that
have a total gross fair market value equal to or more than 40% of the total
gross fair market value of all of the assets of the Company immediately prior to
such acquisition or acquisitions.  For this purpose, gross fair market
value means the value of the assets of the Company, or the value of the assets
being disposed of, determined without regard to any liabilities associated with
such assets.

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      

      For
purposes of determining whether a Change in Control has occurred, the term
"person" shall have the meaning given in Section 13(d) and 14(d) of the
Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the term
"beneficial owner" shall have the meaning given in Rule 13d-3 under the Exchange
Act.

      

      Section
1.6 “CODE” means the Internal Revenue Code of 1986, as amended.

      

      Section
1.7 “COMPANY” means IDEXX Laboratories, Inc. and any subsidiary designated as a
participating entity by the Plan Administrator.

      

      Section
1.8 “DEFERRALS” means amounts deferred under the Plan pursuant to Article III
and allocated to a Participant's Account. No money or other assets will actually
be contributed to such Accounts.

      

      Section
1.9 “DEFERRED STOCK UNIT” means a notional interest in one share of IDEXX
Stock.  Each Deferred Stock Unit shall be equivalent in value to one
share of IDEXX Stock and shall be subject to the terms of the 2009 Stock
Incentive Plan.

      

      Section
1.10 “DIRECTOR” means a non-employee member of the Board of
Directors.

      

      Section
1.11 “DISABLED” means that a Participant:  (a) is unable to engage in
any substantial gainful activity by reason of any medically determinable
physical or mental impairment which can be expected to result in death or can be
expected to last for a continuous period of not less than twelve months, or (b)
is, by reason of any medically determinable physical or mental impairment which
can be expected to result in death or can be expected to last for a continuous
period of not less than twelve months.

      

      Section
1.12 “EFFECTIVE DATE” means the effective date of this restated plan document,
generally January 1, 2005.

      

      Section
1.13 “IDEXX STOCK” means Common Stock of IDEXX Laboratories, Inc.

      

      Section
1.14 “OTHER COMPENSATION” means cash compensation paid to a Director, other than
the Annual Retainer, including (without limitation) meeting fees, and annual
fees for committee memberships and committee chairs.

      

      Section
1.15 “PARTICIPANT” means a Director who participates in the Plan.

      

      Section
1.16 “PLAN” means this Director Deferred Compensation Plan, as it may be amended
from time to time.

      

      Section
1.17 “PLAN ADMINISTRATOR” means the Vice President - Human Resources of IDEXX
Laboratories, Inc. or any person or entity designated by the Vice President -
Human Resources.

      

      Section
1.18 “PLAN YEAR” means the 12-month period beginning January 1 and ending
December 31.

      

      Section
1.19 “UNFORESEEABLE EMERGENCY” means a severe financial hardship to the
Participant, the Participant’s spouse or a dependent (as defined in Code Section
152(a)) of the Participant, loss of the Participant’s property due to casualty,
or other similar extraordinary and unforeseeable circumstances arising as a
result of events beyond the control of the Participant.

       

      
        
           

        

        
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      ARTICLE
II

      ELIGIBILITY
AND PARTICIPATION

      

      Section
2.1 ELIGIBILITY. Each Director shall be eligible to become a Participant in the
Plan immediately upon the commencement of his or her membership on the
Board.

      

      Section
2.2 PARTICIPATION. A Director may become a Participant in the Plan by making the
applicable election described in Section 3.1 below.  A Director’s
participation will commence with the first quarterly payment of the Annual
Retainer paid after the completion of the Participant’s deferral election. Each
Director shall remain a Participant under the Plan until all amounts credited to
the Participant's Account Balance have been distributed to the Participant or
the Participant's Beneficiary.

       

      ARTICLE
III

      DEFERRALS;
ANNUAL GRANTS; VESTING

      
Section
3.1 DEFERRALS

      

      (a)           General.  A
Participant shall make a deferral election by completing and returning to the
Plan Administrator (or his or her designee) a written election on the form
prescribed by the Plan Administrator.  In general, a Participant’s
election shall be made between December 1 and December 31 of the year
immediately preceding the year in which the Annual Retainer and/or Other
Compensation (as applicable) will be earned, and shall become irrevocable with
respect to a Plan Year as of December 31 of such preceding
year.  However, a Director who shall first become eligible to
participate in the Plan or any similar non-qualified deferred compensation plan
of the Company after the time specified for making the deferral election under
the Plan for the Plan Year as provided in the preceding sentence may make his or
her initial deferral election within 30 days after first becoming eligible, such
election to apply only the Annual Retainer and/or Other Compensation (as
applicable) to be earned for services provided during the remainder of such Plan
Year.

      

      A
Participant’s deferral election shall remain in effect until the date on which
such Participant ceases to be a Director, or until he or she modifies such
election on a prospective basis with respect to a subsequent Plan Year (in
accordance with the requirements of subsection (a) above and any applicable
procedures prescribed by the Plan Administrator.  Notwithstanding the
foregoing, the deferral election of a Participant who shall receive a
distribution from the Plan on account of an Unforeseeable Emergency shall be
canceled for the remainder of the Plan Year, as soon as administratively
practicable following the approval of such distribution, and may not resume
unless and until the Participant shall make a new deferral election for a future
Plan Year.

      

      (b)           Plan Years Ending On or
Before December 31, 2005. For Plan Years ending on or before December 31,
2005, a Participant shall be required to defer 50% of his or her Annual
Retainer, which shall be credited to his or her Account in the form of Deferred
Stock Units.  For such Plan Years, a Participant may elect to defer
any or all of the remaining portion of such Annual Retainer and any or all of
his or her Other Compensation for a Plan Year.

      

      (c)           Plan Years Beginning On or
After January 1, 2006.  For Plan Years beginning on and after
January 1, 2006, a Participant may elect to defer receipt of all, but not less
than all, of his or her Annual Retainer payable for any Plan Year, and a
Participant shall not be permitted to defer the receipt of any Other
Compensation under the Plan.

      

      (d)           Plan Years Beginning On and
After January 1, 2007.  For Plan Years beginning on and after
January 1, 2007, a Participant may elect to defer receipt of all or any portion
of his or her Annual Retainer and/or Other Compensation payable for any Plan
Year, in accordance with subsection (a) of this Section.

      

      Section
3.2 ANNUAL GRANTS. For Plan Years beginning on or after January 1, 2006,
the Board may make an annual grant to Directors of a number of Deferred Stock
Units having a specified dollar value.  The number of Deferred Stock
Units granted to a Director shall be determined by dividing the closing price of
IDEXX Stock on the grant date by such specified dollar value.

       

      
        
           

        

        
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      Section
3.3 VESTING.

      

      (a)           Deferrals.  A
Participant’s interest in elective Deferrals made under Section 3.1 of the Plan
shall be fully vested and nonforfeitable at all times.

      

      (b)           Annual
Grants.  Each Annual Grant of Deferred Stock Units shall vest
on the first anniversary of the grant date, if the Participant subject to the
grant shall then be a member of the Board of Directors; provided, however, that a
Participant’s interest in his or her unvested Deferred Stock Units shall vest
upon the earliest to occur of a Change in Control, the Participant’s death, or
the Participant’s Disability.

      

      ARTICLE
IV

      INVESTMENT
OF DEFERRALS; DISTRIBUTIONS

      

      Section
4.1 INVESTMENT OF DEFERRALS.  All amounts deferred under the Plan
shall be credited to the Participant’s Account and shall be deemed to be
invested in notional shares of IDEXX Stock, denominated as Deferred Stock
Units.  The number of Deferred Stock Units credited to a Participant’s
Account with respect to any elective or mandatory deferral shall be determined
by dividing the amount of the deferral by the closing price of one share of
IDEXX Stock on the conversion date established by the Plan Administrator with
respect to any deferral period, which conversion date shall not be later than 30
days after the end of the deferral period.

      

      Section
4.2 DISTRIBUTIONS.

      

      (a)           A
Participant shall not be permitted to elect the form or timing of the
distribution of his or her benefits under the Plan.  One year from the
date of termination of a Participant’s Board membership for any reason or, if
earlier, upon the occurrence of a Change in Control of the Company, the
Participant will receive shares of IDEXX Stock equal to the number of Deferred
Stock Units credited to the Account of the Participant in complete distribution
of his or her benefit under the Plan.  Notwithstanding the foregoing,
a Participant’s benefit shall be distributed to his or her personal
representative if the Participant should die prior to the expiration of one year
following the date of termination of his or her Board membership.

      

      (b)           Upon
application by the Participant, if the Plan Administrator determines that a
Participant has experienced an Unforeseeable Emergency, the Plan Administrator
may authorize the distribution of all or a portion of the Participant’s benefit
under the Plan.  The amount distributed with respect to the
Unforeseeable Emergency must not exceed the amounts necessary to satisfy such
emergency plus amounts necessary to pay taxes reasonably anticipated as a result
of the distribution, after taking into account the extent to which such hardship
is or may be relieved through reimbursement or compensation by insurance or
otherwise or by liquidation of the Participant’s assets (to the extent the
liquidation of such assets would not itself cause severe financial
hardship).

      

      ARTICLE
V

      ADMINISTRATIVE
PROCEDURES

      

      Section
5.1 GENERAL. The Plan shall be administered by the Plan Administrator. The Plan
Administrator shall establish such procedures and rules as he or she, in his or
her sole discretion, shall deem appropriate regarding the making of deferral
elections and distributions, and all other administrative items for this Plan,
in all events consistent with the written terms of the Plan and Section 409A of
the Code.

      

      Section
5.2 PLAN INTERPRETATION. The Plan Administrator shall have the authority and
responsibility to interpret and construe the Plan and to decide all questions
arising thereunder, including without limitation, questions of eligibility for
participation, eligibility for deferrals, Account status, and the timing of the
distribution thereof, and shall have the authority to deviate from the literal
terms of the Plan only to the extent the Plan Administrator shall determine, in
his or her sole discretion, to be necessary or appropriate to operate the Plan
in compliance with the provisions of applicable law, including, without
limitation, Code Section 409A.  In no event shall the Plan
Administrator use its authority or discretion to accelerate the timing of
benefit distributions under the Plan.

      

      Section
5.3 RESPONSIBILITIES AND REPORTS. The Plan Administrator may, pursuant to a
written instruction, name other persons to carry out specific responsibilities.
The Plan Administrator shall be entitled to rely conclusively upon all tables,
valuations, certificates, opinions and reports that are furnished by any
accountant, controller, counsel, or other person who is employed or engaged for
such purposes.

       

      
        
           

        

        
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      ARTICLE
VI

      CLAIMS
PROCEDURE

      

      Section
6.1 DENIAL OF CLAIM FOR BENEFITS. Any denial by the Plan Administrator of any
claim for benefits under the Plan by a Participant or Beneficiary shall be
stated in writing by the Plan Administrator and delivered or mailed to the
Participant or Beneficiary. The Plan Administrator shall furnish the claimant
with notice of the decision not later than 90 days after receipt of the claim,
unless special circumstances require an extension of time for processing the
claim. If such an extension of time for processing is required, written notice
of the extension shall be furnished to the claimant prior to the termination of
the initial 90-day period. In no event shall such extension exceed a period of
90 days from the end of such initial period. The extension notice shall indicate
the special circumstances requiring an extension of time and the date by which
the Plan Administrator expects to render the final decision. The notice of the
Plan Administrator's decision shall be written in a manner calculated to be
understood by the claimant and shall include (i) the specific reasons for the
denial, including, where appropriate, references to the Plan, (ii) any
additional information necessary to perfect the claim with an explanation of why
the information is necessary, and (iii) an explanation of the procedure for
perfecting the claim.

      

      Section
6.2 APPEAL OF DENIAL. The claimant shall have 60 days after receipt of written
notification of denial of his or her claim in which to file a written appeal
with the Plan Administrator. As a part of any such appeal, the claimant may
submit issues and comments in writing and shall, on request, be afforded an
opportunity to review any documents pertinent to the perfection of his or her
claim. The Plan Administrator shall render a written decision on the claimant's
appeal ordinarily within 60 days of receipt of notice thereof but, in no case,
later than 120 days.

      

      ARTICLE
VII

      FUNDING

      

      Section
7.1 FUNDING. The Company shall not segregate or hold separately from its general
assets any amounts credited to Participant Accounts, and shall be under no
obligation whatsoever to fund in advance any amounts under the Plan, including
Deferrals and earnings thereon.

      

      Section
7.2 INSOLVENCY. In the event that the Company becomes insolvent, all
Participants and Beneficiaries shall be treated as general, unsecured creditors
of the Company with respect to any amounts credited to Participant
Accounts.

      

      ARTICLE
VIII

      AMENDMENT
AND TERMINATION

      

      The
Company reserves the right to amend or terminate the Plan at any time by action
of the Board or the Compensation Committee thereof; provided, however, that the
Vice President - Human Resources may approve amendments to the Plan that are
primarily technical or administrative in nature (such as amendments that are
necessary to bring the Plan into formal compliance with applicable law and do
not materially alter the design or benefit structure of the
Plan).  Notwithstanding the foregoing, no such amendment or
termination shall reduce any Participant's Account Balance as of the date of
such amendment or termination, or accelerate the distribution of benefits to any
Participant.  Any distributions made in connection with the
termination of the Plan shall be made:  (a) not sooner than the last
day of the 12th month
after the termination date, (b) not later than the 24th month
after the termination date, and (c) in all other ways in accordance with all
applicable requirements of Section 409A of the Code.

      

      ARTICLE
IX

      MISCELLANEOUS

      

      Section
9.1 NO EMPLOYMENT CONTRACT. The establishment or existence of the Plan shall not
confer upon any individual the right to be continued as a Director.

       

      
        
           

        

        
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      Section
9.2 NON-ALIENATION. No amounts payable under the Plan shall be subject in any
manner to anticipation, assignment, or voluntary or involuntary
alienation.

      

      Section
9.3 GOVERNING LAW. The Plan shall be governed by and construed in accordance
with the laws of the State of Maine to the extent not preempted by federal
law.

      

      Section
9.4 INCAPACITY. If the Plan Administrator, in his or her sole discretion, deems
a Participant or Beneficiary who is eligible to receive any payment hereunder to
be incompetent to receive the same by reason of illness or any infirmity or
incapacity of any kind, the Plan Administrator may direct the Company to apply
such payment directly for the benefit of such person, or to make payment to any
person selected by the Plan Administrator to disburse the same for the benefit
of the Participant or Beneficiary. Payments made pursuant to this Section shall
operate as a discharge, to the extent thereof, of all liabilities of the
Company, the Plan Administrator and the Plan to the person for whose benefit the
payments are made.

      

      Section
9.5 CONSTRUCTION OF TERMS. For purposes of the Plan, the singular shall include
the plural, and vice versa and the masculine shall include the
feminine.

      

      Section
9.6 BINDING UPON SUCCESSORS. The liabilities under the Plan shall be binding
upon any successor, assign or purchaser of the Company or any purchaser of
substantially all of the assets of the Company.

      

      Section
9.7 NO TRUST ARRANGEMENT. All benefits under the Plan represent an unsecured
promise to pay by the Company. The Plan shall be unfunded and the benefits
hereunder shall be paid only from the general assets of the Company resulting in
the Participants having no greater rights than the Company's other general
creditors. Nothing herein shall prevent or prohibit the Company from
establishing a trust or other arrangement for the purpose of providing for the
payment of the benefits payable under the Plan.

      

      
        	 
      	
                Approved
      May 21, 2003

              
	 
      	
                Restated
      on February 22, 2006

              
	 
      	
                Restated
      on January 1, 2008

              
	 
      	
                Restated
      on May 6, 2009

              

      

    

     

     

    
      
         

      

      
        - 6
-Unassociated Document

    Exhibit
10.3

    

    IDEXX
Laboratories, Inc.

    

    EXECUTIVE
DEFERRED COMPENSATION PLAN

    

    Restated
Effective as of May 6, 2009

    

    The
Executive Deferred Compensation Plan of IDEXX Laboratories, Inc. (the “Plan”)
was initially established effective September 1, 2003 to provide a vehicle for
the deferral of taxable income. The Plan is intended to be an “unfunded” plan
maintained for the purpose of providing deferred compensation to a select group
of management employees for purposes of Title I of the Employee Retirement
Income Security Act of 1974.  The Plan was amended and restated in its
entirety, effective January 1, 2005, primarily for the purpose of complying with
the applicable requirements of Section 409A of the Internal Revenue Code of 1986
(the “Code”), and Proposed Regulations §§1.409A-1 et seq., and the Company
operated the Plan in good faith compliance with Code Section 409A and the
restated Plan document since that time.  The Plan was also amended and
restated in its entirety, effective January 1, 2008, for the purpose of
continuing compliance with Section 409A of the Code and Final
Regulations  §§1.409A-1 et seq.  The Plan is now restated in
its entirety, effective May 6, 2009, for the purpose of replacing a reference to
the 2003 Stock Incentive Plan with the 2009 Stock Incentive Plan, which
superseded the 2003 Stock Incentive Plan on May 6, 2009.

    

    ARTICLE
I

    DEFINITIONS

    

    Unless
the context otherwise requires, the following words and phrases as used herein
shall have the following meanings:

    
 

    Section
1.1 “ACCOUNT” means the bookkeeping Accounts maintained for a Participant to
which Deferrals, and any earnings thereon, are credited.

    

    Section
1.2 “BENEFICIARY” means the person that the Participant designates to receive
any unpaid portion of the Participant's Account balance should the Participant's
death occur before the Participant receives the entire Account balance. If the
Participant does not designate a beneficiary, his Beneficiary shall be his
spouse if he is married at the time of his death, or his estate if he is
unmarried at the time of his death.

    

    Section
1.3 “CODE” means the Internal Revenue Code of 1986, as amended.

    

    Section
1.4 “COMPANY” means IDEXX Laboratories, Inc. and any subsidiary designated as a
participating entity by the Plan Administrator.

    

    Section
1.5 “COMPENSATION” means Salary and Other Compensation paid to or earned by a
Participant.

    

    Section
1.6 “CHANGE IN CONTROL” means, solely for purposes of this Plan, the occurrence
of one or more of the following events with respect to the Company:

    

    (a)           Any
one person, or more than one person acting as a group, acquires (or has acquired
during the 12-month period ending on the date of the most recent acquisition by
such person or persons) beneficial ownership, directly or indirectly, of stock
of the Company possessing 35% or more of the total voting power of the stock of
the Company; or

    

    (b)           Individuals
constituting a majority of the members of the Company’s Board of Directors are
replaced during any 12-month period by new directors whose appointment or
election is not approved by a majority of the members of the Company’s Board of
Directors serving immediately before the appointment or election of any such new
directors; or

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    (c)           A
change in the ownership of a substantial portion of the Company’s assets occurs
on the date that any one person, or more than one person acting as a group,
acquires (or has acquired during the 12-month period ending on the date of the
most recent acquisition by such person or persons) assets from the Company that
have a total gross fair market value equal to or more than 40% of the total
gross fair market value of all of the assets of the Company immediately prior to
such acquisition or acquisitions.  For this purpose, gross fair market
value means the value of the assets of the Company, or the value of the assets
being disposed of, determined without regard to any liabilities associated with
such assets.

    

    For
purposes of determining whether a Change in Control has occurred, the term
"person" shall have the meaning given in Section 13(d) and 14(d) of the
Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the term
"beneficial owner" shall have the meaning given in Rule 13d-3 under the Exchange
Act.

    

    Section
1.7 “DEFERRALS” means amounts deferred under the Plan pursuant to Article III
and allocated to a Participant's Investment Accounts. No money or other assets
will actually be contributed to such Investment Accounts.

    

    Section
1.8  “DEFERRED STOCK UNIT” means a notional interest in one share of
IDEXX Stock.  Each Deferred Stock Unit shall be equivalent in value to
one share of IDEXX Stock and shall be subject to the terms of the 2009 Stock
Incentive Plan.

    

    Section
1.9  “DISABLED” means that a Participant:  (a) is unable to
engage in any substantial gainful activity by reason of any medically
determinable physical or mental impairment which can be expected to result in
death or can be expected to last for a continuous period of not less than twelve
months, or (b) is, by reason of any medically determinable physical or mental
impairment which can be expected to result in death or can be expected to last
for a continuous period of not less than twelve months, receiving income
replacement benefits for a period of not less than three months under an
accident and health plan covering employees of the Company.

    

    Section
1.10 “EFFECTIVE DATE” means the effective date of this restated plan document,
generally January 1, 2008.

    

    Section
1.11 “EMPLOYEE” means an individual who is employed by the Company.

    

    Section
1.12  “EXECUTIVE” means any Company Employee at the level of Director,
Senior Director,  Vice President, or Corporate Officer.

    

    Section
1.13 “IDEXX STOCK” means Common Stock of IDEXX Laboratories, Inc.

    

    Section
1.14 “IDEXX STOCK INVESTMENT ACCOUNT” means an Investment Account in which
deferred amounts are valued as if they were invested in IDEXX
Stock.

    

    Section
1.15 “INVESTMENT ACCOUNT” means a book accounting record, maintained for each
Participant, valued in accordance with the performance of the investment choice
in which the deferred amounts are notionally invested. No funds are actually
contributed to an Investment Account and there are no assets in any Investment
Account.

    

    Section
1.16   “OFFICER” means a corporate officer of the
Company.

    

    Section
1.17 “OTHER COMPENSATION” means any annual bonus compensation paid to a
Participant by the Company.  The Plan Administrator shall determine
whether a particular form of bonus compensation shall be subject to deferral
elections under the Plan.

    

    Section
1.18 “PARTICIPANT” means any Executive participating in the Plan.

    

    Section
1.19 “PLAN” means this Deferred Compensation Plan, as it may be amended from
time to time.

    

    Section
1.20 “PLAN ADMINISTRATOR” means the Vice President - Human Resources of IDEXX
Laboratories, Inc. or any person serving in a similar capacity or any person or
entity designated by such person.

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    

    Section
1.21 “PLAN YEAR” means the 12-month period beginning January 1 and ending
December 31.

    

    Section
1.22 “SALARY” means the gross regular bi-weekly base wage paid to or earned by a
Participant in exchange for services to the Company.

    

    Section
1.23 “SEPARATION FROM SERVICE” means the complete discontinuation of the
provision of any significant services by the Executive to the Company in any
capacity.  For purposes of determining whether a Separation from
Service has occurred, the Company shall apply the principles set forth in
Treasury Regulations § 1.409A-1(h)(1).  Without limiting the
foregoing, the Executive will be considered to be providing only insignificant
services to the Company (even if he continues to provide some services) if he or
she provides no more than 20% of the services he or she provided during his or
her period of regular full time employment.

    

    Section
1.24 “SPECIFIED EMPLOYEE” means an Executive who is a “key employee” of the
Company, within the meaning of Code Section 409A(a)(2)(B).  The Plan
Administrator shall identify Specified Employees with respect to each Plan Year
in accordance with the procedure described in Treasury Regulations §
1.409A-1(i).

    

    Section
1.25 “UNFORESEEABLE EMERGENCY” means a severe financial hardship to the
Participant, the Participant’s spouse or a dependent (as defined in Code Section
152(a)) of the Participant, loss of the Participant’s property due to casualty,
or other similar extraordinary and unforeseeable circumstances arising as a
result of events beyond the control of the Participant.

    

    ARTICLE
II

    ELIGIBILITY
AND PARTICIPATION

    

    Section
2.1 ELIGIBILITY.  An Executive shall be eligible to become a
participant in the Plan as of his or her first day of employment with the
Company or, if later, the date on which he or she commences employment in an
eligible position.  An Executive shall cease to be eligible to defer
Compensation under the Plan if he or she shall cease to occupy an eligible
position.

    

    Section
2.2 PARTICIPATION. An Executive may become a Participant in the Plan effective
as of the first pay period beginning after delivery to the Plan Administrator
(or its designee) of a completed deferral election in the form prescribed by the
Plan Administrator. Each Executive shall remain a Participant under the Plan
until all amounts credited to the Participant's Account have been distributed to
the Participant or the Participant's Beneficiary.

    

    ARTICLE
III

    DEFERRALS;
VESTING

    

    Section
3.1 DEFERRAL ELECTIONS

    

    (a)           A
Participant may elect to defer receipt of Salary and/or Other Compensation, as
and to the extent such deferral opportunities are made available under the Plan
by the Plan Administrator, for a Plan Year by completing and returning to the
Plan Administrator (or his or her designee) a written election on the form
prescribed by the Plan Administrator.  Except as provided below,
a  Participant’s election shall be made between December 1 and
December 31 of the year  immediately preceding the year in which such
Salary and/or Other Compensation will be earned, and shall become irrevocable
with respect to a Plan Year as of December 31 of such preceding
year.

    

    (b)           An
Executive who shall first become eligible to participate in the Plan or any
similar non-qualified deferred compensation plan of the Company after the time
specified for making the deferral election under the Plan for the Plan
Year  as provided in 3.1(a) above, may, within 30 days after his or
her initial eligibility date, elect to defer receipt of Salary and/or Other
Compensation earned during the remainder of such Plan Year.  An
Executive’s election under this paragraph shall apply only to Salary and/or
Other Compensation earned with respect to services provided after his or her
initial eligibility date. An Executive shall not be permitted to make an
election under this paragraph if he or she was eligible to participate in the
Plan or any similar non-qualified deferred compensation plan of the Company
within the 24 month period prior to the beginning of the 30 day election
period.

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    

    (c)           A
Participant shall elect the form and timing of his or her benefit distribution
at the time at which such Participant makes a deferral election under this
Section with respect to any Plan Year.

    

    (d)           A
Participant’s deferral election shall remain in effect until the date on which
such Participant ceases to be an Executive or until he or she modifies such
election on a prospective basis with respect to a subsequent Plan Year (in
accordance with the requirements of subsection (a) above and any applicable
procedures prescribed by the Plan Administrator).  Notwithstanding the
foregoing, the deferral election of a Participant who shall receive a
distribution from the Plan on account of an Unforeseeable Emergency shall be
canceled for the remainder of the Plan Year, as soon as administratively
practicable following the approval of such distribution, and may not resume
unless and until the Participant shall make a new deferral election for a future
Plan Year.

    

    SECTION
3.2        VESTING.  A
Participant’s interest in the amounts deferred under the Plan, and any notional
earnings thereon, shall be fully vested and nonforfeitable at all
times.

    

    ARTICLE
IV

    INVESTMENT
ACCOUNTS AND DISTRIBUTIONS

    

    Section
4.1 INVESTMENT ACCOUNTS. The Plan Administrator shall designate the Investment
Accounts that will be available to Participants under the Plan from time to
time. The Plan Administrator shall also designate how often and what procedures
must be followed to reallocate amounts in the Investment
Accounts.  The Company shall credit a Participant’s deferrals to the
Investment Accounts selected by the Participant.  All amounts credited
to the IDEXX Stock Investment Account shall be converted into Deferred Stock
Units, each representing a notional interest in one share of IDEXX
Stock.  The number of Deferred Stock Units credited to a Participant’s
account with respect to a deferral shall be determined by dividing the amount of
the deferral by the closing price of one share of IDEXX Stock on the conversion
date established by the Plan Administrator with respect to any deferral period,
which conversion date shall not be later than 30 days after the end of the
deferral period.

    

    Section
4.2            DISTRIBUTIONS.

    

    (a)           In
general, distributions of amounts credited to the Participant’s Investment
Accounts shall be paid in cash.  However, Deferred Stock Units held in
a Participant’s IDEXX Stock Investment Account shall be distributed in the form
of shares of IDEXX Stock equal to the number of Deferred Stock Units held in the
Participant’s Account as of the close of business on the last trading day prior
to the event with respect to which the distribution is made.

    

    (b)           Benefits
under the Plan shall be distributed to a Participant in a single lump sum or
pursuant to a fixed schedule of payments at the time(s), or upon the event or
events, specified on the Participant’s distribution election form on file with
the Plan Administrator.  For purposes of applying the provisions of
this paragraph, if an installment form of distribution shall be made available
by the Plan Administrator, such form of distribution shall be treated as an
entitlement to receive a single payment, as described in Treasury Regulations §
1.409A-2(b)(2)(iii).

    

    Notwithstanding
the foregoing, benefits under the Plan may not be distributed earlier than the
first of the following events to occur:

    

    
      	  	
              (i)

            	
              the
      Participant’s Separation from
Service;

            

    

    
      	  	
              (ii)

            	
              the
      date the Participant becomes
Disabled;

            

    

    
      	  	
              (iii)

            	
              the
      Participant’s date of death;

            

    

    
      	
                
      

            	
              (iv)

            	
              the
      time(s) specified by the Participant in his or her deferral election,
      subject to such requirements as the Plan Administrator may impose
      consistent with Code Section 409A;

            

    

    
      	
                
      

            	
              (v)

            	
              a
      Change in Control of the Company;
or

            

    

    
      	  	
              (vi)

            	
              the
      occurrence of an Unforeseeable
Emergency.

            

    

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    If a
payment under the Plan is to be made on account of an event specified by the
Participant, such payment shall be made within 30 days following the occurrence
of such event.

    

    (c)           Notwithstanding
the foregoing:

    

    (i)           all
benefits under the Plan shall be distributed to all Participants upon the
occurrence of a Change in Control of the Company;

    

    (ii)          a
distribution payable on account of a Separation from Service to a Participant
who is a  Specified Employee shall not be made sooner than 6 months
after the date of his or her Separation from Service for any reason or, if
earlier, his or her death;

    

    (iii)         an
Officer shall not receive a distribution of shares of IDEXX Stock on account of
his or her Separation from Service sooner than 12 months after the date of such
Separation from Service or, if earlier, upon his or her death;

    

    (d)           A
Participant’s election as to the distribution of compensation previously
deferred may be modified only subject to the following
requirements:

    

    (i)           no
change in a distribution election may take effect until 12 months after the date
on which the change in election is made;

    

    (ii)          a
Participant may not modify an election to receive a fixed schedule of payments
within 12 months of the first scheduled payment date, and

    

    (iii)         a
change in a Participant’s distribution election must defer the date of the
distribution by at least 5 years from the date the distribution would otherwise
have been made.

    

    (e)           Upon
application by the Participant, if the Plan Administrator determines that a
Participant has experienced an Unforeseeable Emergency, the Plan Administrator
may authorize the distribution of all or a portion of the Participant’s benefit
under the Plan.  The amount distributed with respect to the
Unforeseeable Emergency must not exceed the amounts reasonably necessary to
satisfy such emergency, plus amounts necessary to pay taxes reasonably
anticipated as a result of the distribution, after taking into account the
extent to which such hardship is or may be relieved through reimbursement or
compensation by insurance or otherwise or by liquidation of the Participant’s
assets (to the extent the liquidation of such assets would not itself cause
severe financial hardship).

    

    ARTICLE
V

    ADMINISTRATIVE
PROCEDURES

    

    Section
5.1 GENERAL. The Plan shall be administered by the Plan Administrator. The Plan
Administrator shall establish such procedures and rules as he or she, in his or
her sole discretion, shall deem appropriate regarding the making of deferral and
distribution elections, the Investment Accounts for valuing Account Balances,
reallocation of Account Balances among Investment Accounts, statements of
Account Balances, and other administrative items for this Plan, in all events
consistent with the written terms of the Plan and Section 409A of the
Code.

    

    Section
5.2 PLAN INTERPRETATION. The Plan Administrator shall have the authority and
responsibility to interpret and construe the Plan and to decide all questions
arising thereunder, including without limitation, questions of eligibility for
participation, eligibility for Deferrals, the amount of Account balances, and
the timing of the distribution thereof, and shall have the authority to deviate
from the literal terms of the Plan only to the extent the Plan Administrator
shall determine, in his or her sole discretion, to be necessary or appropriate
to operate the Plan in compliance with the provisions of applicable law,
including, without limitation, Code Section 409A.  In no event shall
the Plan Administrator use its authority or discretion to accelerate the timing
of benefit distributions under the Plan.

     

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    

    Section
5.3 RESPONSIBILITIES AND REPORTS. The Plan Administrator may, pursuant to a
written instruction, name other persons to carry out specific responsibilities.
The Plan Administrator shall be entitled to rely conclusively upon all tables,
valuations, certificates, opinions and reports that are furnished by any
accountant, controller, counsel, or other person who is employed or engaged for
such purposes.

    

    ARTICLE
VI

    CLAIMS
PROCEDURE

    

    Section
6.1 DENIAL OF CLAIM FOR BENEFITS. Any denial by the Plan Administrator of any
claim for benefits under the Plan by a Participant or Beneficiary shall be
stated in writing by the Plan Administrator and delivered or mailed to the
Participant or Beneficiary. The Plan Administrator shall furnish the claimant
with notice of the decision not later than 90 days after receipt of the claim,
unless special circumstances require an extension of time for processing the
claim. If such an extension of time for processing is required, written notice
of the extension shall be furnished to the claimant prior to the termination of
the initial 90-day period. In no event shall such extension exceed a period of
90 days from the end of such initial period. The extension notice shall indicate
the special circumstances requiring an extension of time and the date by which
the Plan Administrator expects to render the final decision. The notice of the
Plan Administrator's decision shall be written in a manner calculated to be
understood by the claimant and shall include (i) the specific reasons for the
denial, including, where appropriate, references to the Plan, (ii) any
additional information necessary to perfect the claim with an explanation of why
the information is necessary, and (iii) an explanation of the procedure for
perfecting the claim.

    

    Section
6.2 APPEAL OF DENIAL. The claimant shall have 60 days after receipt of written
notification of denial of his or her claim in which to file a written appeal
with the Plan Administrator. As a part of any such appeal, the claimant may
submit issues and comments in writing and shall, on request, be afforded an
opportunity to review any documents pertinent to the perfection of his or her
claim. The Plan Administrator shall render a written decision on the claimant's
appeal ordinarily within 60 days of receipt of notice thereof but, in no case,
later than 120 days.

    

    ARTICLE
VII

    FUNDING

    

    Section
7.1 FUNDING. The Company shall not be obligated to segregate or hold separately
from its general assets any amounts credited to the Investment Accounts for
Participants, and shall be under no obligation whatsoever to fund in advance any
amounts under the Plan, including Deferrals and earnings thereon.  Any
assets which the Company segregates, holds separately or funds in advance shall
belong to the Company and the Participants shall have no beneficial or ownership
interest therein.

    

    Section
7.2 BENEFITS UNSECURED. All Participants and Beneficiaries shall be treated as
general, unsecured creditors of the Company with respect to any amounts credited
to the Investment Accounts.

    

    ARTICLE
VIII

    AMENDMENT
AND TERMINATION

     

    The
Company reserves the right to amend or terminate the Plan at any time by action
of the Board or the Compensation Committee thereof; provided, however, that the
Vice President - Human Resources may approve amendments to the Plan that are
primarily technical or administrative in nature (such as amendments that are
necessary to bring the Plan into formal compliance with applicable law and do
not materially alter the design or benefit structure of the
Plan).  Notwithstanding the foregoing, no such amendment or
termination shall reduce any Participant's Account Balance as of the date of
such amendment or termination, or accelerate the distribution of benefits to any
Participant.  Any distributions made in connection with the
termination of the Plan shall be made:  (a) not sooner than the last
day of the 12th month
after the termination date, (b) not later than the 24th month
after the termination date, and (c) in all other ways in accordance with all
applicable requirements of Section 409A of the Code.

     

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    

    ARTICLE
IX

    MISCELLANEOUS

    

    Section
9.1 NO EMPLOYMENT CONTRACT. The establishment or existence of the Plan shall not
confer upon any individual the right to continued employment.

    

    Section
9.2 NON-ALIENATION. No amounts payable under the Plan shall be subject in any
manner to anticipation, assignment, or voluntary or involuntary
alienation.

    

    Section
9.3 GOVERNING LAW. The Plan shall be governed by and construed in accordance
with the laws of the State of Maine to the extent not preempted by federal
law.

    

    Section
9.4 WITHHOLDING. The Company shall withhold from any benefits payable under the
Plan all federal, state and local income taxes or other taxes required to be
withheld pursuant to applicable law.

    

    Section
9.5 INCAPACITY. If the Plan Administrator, in his or her sole discretion, deems
a Participant or Beneficiary who is eligible to receive any payment hereunder to
be incompetent to receive the same by reason of illness or any infirmity or
incapacity of any kind, the Plan Administrator may direct the Company to apply
such payment directly for the benefit of such person, or to make payment to any
person selected by the Plan Administrator to disburse the same for the benefit
of the Participant or Beneficiary. Payments made pursuant to this Section shall
operate as a discharge, to the extent thereof, of all liabilities of the
Company, the Plan Administrator and the Plan to the person for whose benefit the
payments are made.

    

    Section
9.6 CONSTRUCTION OF TERMS. For purposes of the Plan, the singular shall include
the plural, and vice versa and the masculine shall include the
feminine.

    

    Section
9.7 BINDING UPON SUCCESSORS. The liabilities under the Plan shall be binding
upon any successor, assign or purchaser of the Company or any purchaser of
substantially all of the assets of the Company.

    

    Section
9.8 NO TRUST ARRANGEMENT. All benefits under the Plan represent an unsecured
promise to pay by the Company. The Plan shall be unfunded and the benefits
hereunder shall be paid only from the general assets of the Company resulting in
the Participants having no greater rights than the Company's other general
creditors. Nothing herein shall prevent or prohibit the Company from
establishing a trust or other arrangement for the purpose of providing for the
payment of the benefits payable under the Plan.  The assets held in
such a trust or beneficial arrangement shall be the property of the Company and
the Participants shall have no beneficial or ownership interest therein other
than the rights of an unsecured general creditor of the Company.

    Approved
on July 16, 2003

    Restated
on February 22, 2006

    Restated
on January 1, 2008

    Restated
on May 6, 2009

     

    
      
         

      

      
        7

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