IDEXX said its board approved and adopted the IDEXX Deferred Compensation Plan on December 6, 2024, upon the recommendation of the Compensation and Talent Committee. The plan is an unfunded, nonqualified deferred compensation plan that lets a select group of management and highly compensated employees or independent contractors voluntarily defer compensation.

1. 01

   IDEXX said its board approved and adopted the IDEXX Deferred Compensation Plan on December 6, 2024, upon the recommendation of the Compensation and Talent Committee. The plan is an unfunded, nonqualified deferred compensation plan that lets a select group of management and highly compensated employees or independent contractors voluntarily defer compensation.

2. 02

   The company said participants may defer between 5% and 50% of annual base salary, between 5% and 100% of annual bonus, and between 5% and 100% of restricted stock units and performance-based restricted stock units. Cash deferrals will be fully vested, and stock unit deferrals will be subject to the vesting conditions in the applicable award agreement.

3. 03

   The company said the plan allows, but does not require, it to make discretionary contributions, and that it has no current intention to make them. It said retirement eligibility occurs at age 60 with no service requirement, and that discretionary contributions vest on an accelerated basis upon a change in control, death, disability or retirement eligibility.

4. 04

   The company said participant accounts are an unfunded, unsecured promise by the company to pay amounts in the future and do not represent ownership of any particular company assets. It said distributions are paid in a lump sum upon death, separation from service before age 60, or separation from service within 24 months after a change in control; otherwise, they are paid in a lump sum or in annual installments. Stock unit deferrals will be paid in company common stock.

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