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<TITLE>Form 8-K December 7, 2005</TITLE>
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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>UNITED STATES<BR>SECURITIES AND
EXCHANGE COMMISSION<BR>WASHINGTON, D.C. 20549  </FONT></H1>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>FORM 8-K </FONT></H1>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>CURRENT REPORT </FONT></H1>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Pursuant to Section 13
or 15(d) of the Securities Exchange Act of 1934 </FONT></H1>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Date of report (Date
of earliest event reported): December 7, 2005 </FONT></H1>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="4"><B>IDEXX LABORATORIES, INC.</B></FONT><BR><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
<I>(Exact name of registrant as specified in its charter)</I> </FONT> </P>


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     <TH COLSPAN=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Delaware</FONT></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>000-19271</FONT></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>01-0393723</FONT></TH></TR>
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     <TD WIDTH=30% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><I>(State or other jurisdiction of<BR>incorporation or organization) </I> </FONT></TD>
     <TD WIDTH=4% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=1>&nbsp;</FONT></TD>
     <TD WIDTH=30% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><I>(Commission File Number)</I> </FONT></TD>
     <TD WIDTH=3% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=1>&nbsp;</FONT></TD>
     <TD WIDTH=30% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><I>(IRS Employer<BR>Identification No.)</I> </FONT></TD>
     <TD WIDTH=2% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=1>&nbsp;</FONT></TD></TR>
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     <TH COLSPAN=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>One IDEXX Drive, Westbrook, Maine</FONT></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>04092</FONT></TH></TR>
<TR VALIGN=Top>
     <TD WIDTH=30% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Address of principal executive offices) </I> </FONT></TD>
     <TD WIDTH=4% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=1>&nbsp;</FONT></TD>
     <TD WIDTH=30% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><I>&nbsp;</I> </FONT></TD>
     <TD WIDTH=3% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=1>&nbsp;</FONT></TD>
     <TD WIDTH=30% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><I>(ZIP Code)</I> </FONT></TD>
     <TD WIDTH=2% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=1>&nbsp;</FONT></TD></TR>
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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>(207) 856-0300</B><BR><I>(Registrant&#146;s
telephone number, including area code)</I> </FONT> </P>
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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>Not Applicable</B><BR><I>(Former
name or former address, if changed since last report)</I> </FONT> </P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Check the appropriate box below if
the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the
registrant under any of the following provisions (see General Instruction A.2): </FONT></P>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>[&nbsp;&nbsp;]</FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Written communications
purusant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></TD>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>[&nbsp;&nbsp;]</FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Soliciting material
purusant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></TD>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>[&nbsp;&nbsp;]</FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Pre-commencement
communications purusant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></TD>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>[&nbsp;&nbsp;]</FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Pre-commencement
communications purusant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></TD>
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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 1.01 Entry into a
Material Definitive Agreement. </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
December 7, 2005 the Board of Directors of IDEXX Laboratories, Inc. (the
&#147;Company&#148;) approved changes to the Company&#146;s standard compensation
arrangements for non-employee Directors. A summary of the Company&#146;s non-employee
Director compensation, effective as of January 1, 2006, is attached as Exhibit 10.1 and
incorporated herein by reference. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
most significant changes to Director compensation are: (i) an increase in the cash
retainer, (ii) an increase in annual fees for committee chairmen, Audit Committee members
and the Lead Director, (iii) elimination of fees for meeting attendance, (iv) a shift in
equity compensation from stock options vesting in one year to deferred stock awards vested
at grant but not distributed until one year following termination of each Director&#146;s
service on the Board, and (v) an increase in the share ownership guideline from $90,000 to
$500,000. The Company does not provide and has not provided benefits or perquisites to its
Directors, other than the reimbursement of expenses associated with meeting attendance. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
changes to Director compensation were approved as part of the Board&#146;s annual review
of Director compensation. In connection with that review, the Compensation Committee of
the Board of Directors retained a compensation consultant to evaluate the design and
competitiveness of the Company&#146;s Director compensation. The changes adopted by the
Board of Directors were substantially as recommended by the consultant. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Board determined that the new Director compensation and increased share ownership
guideline achieve two principal goals: (i) attraction and retention of highly qualified
directors and (ii) alignment of the interests of Directors with those of long-term owners
of the Company&#146;s stock. </FONT></P>

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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 9.01 Financial
Statements and Exhibits. </FONT></H1>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(c)  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Exhibits </FONT></TD>
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<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>                           10.1  </FONT></TD>
<TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Summary
of Non-employee Director Compensation Effective as of January 1, 2006.  </FONT></TD>
</TR>
</TABLE>
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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2 </FONT></P>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SIGNATURE </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused
this report to be signed on its behalf by the undersigned hereunto duly authorized. </FONT></P>


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     <TD WIDTH="50%"><FONT SIZE="2">Dated: December 12, 2005</FONT></TD>
     <TD WIDTH="50%"><FONT SIZE="2"><B>IDEXX LABORATORIES, INC.</B> </FONT></TD></TR>
<TR VALIGN="TOP">
     <TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
<TR VALIGN="TOP">
     <TD><FONT SIZE="2"></FONT></TD>
     <TD><FONT SIZE="2">By: /s/ Conan R. Deady</FONT><HR WIDTH=100% SIZE=1 COLOR=BLACK NOSHADE></TD></TR>
<TR VALIGN="TOP">
     <TD><FONT SIZE="2"></FONT></TD>
     <TD><FONT SIZE="2">Conan R. Deady<BR>
Vice President, General Counsel and Secretary</FONT></TD></TR>
<TR VALIGN="TOP">
     <TD><FONT SIZE="1"></FONT></TD>
     <TD><FONT SIZE="1"></FONT></TD></TR>
</TABLE>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>3 </FONT></P>


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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>EXHIBIT INDEX </FONT></H1>


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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U>Exhibit No.</U>&nbsp;&nbsp;&nbsp;&nbsp;<U>Description of Exhibit</U> </FONT> </P>




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<TD WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.1  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Summary
of Non-employee Director Compensation Effective as of January 1, 2006. </FONT></TD>
</TR>
</TABLE>
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{"company-data": {"conformed-name": "IDEXX LABORATORIES INC /DE", "cik": "0000874716", "assigned-sic": "2835", "irs-number": "010393723", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-19271", "film-number": "051258173"}, "business-address": {"street1": "ONE IDEXX DRIVE", "city": "WESTBROOK", "state": "ME", "zip": "04092-2041", "phone": "2078560300"}, "mail-address": {"street1": "ONE IDEXX DRIVE", "city": "WESTBROOK", "state": "ME", "zip": "04092-2041"}, "former-company": {"former-conformed-name": "IDEXX CORP / DE", "date-changed": "19600201"}}
Form 8-K December 7, 2005
UNITED STATES
SECURITIES AND
EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13
or 15(d) of the Securities Exchange Act of 1934
Date of report (Date
of earliest event reported): December 7, 2005
IDEXX LABORATORIES, INC.
(Exact name of registrant as specified in its charter)
Delaware
000-19271
01-0393723
(State or other jurisdiction of
incorporation or organization)
(Commission File Number)
(IRS Employer
Identification No.)
One IDEXX Drive, Westbrook, Maine
04092
(Address of principal executive offices)
(ZIP Code)
(207) 856-0300
(Registrant's
telephone number, including area code)
Not Applicable
(Former
name or former address, if changed since last report)
Check the appropriate box below if
the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the
registrant under any of the following provisions (see General Instruction A.2):
[  ]
Written communications
purusant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]
Soliciting material
purusant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]
Pre-commencement
communications purusant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]
Pre-commencement
communications purusant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01 Entry into a
Material Definitive Agreement.
On
December 7, 2005 the Board of Directors of IDEXX Laboratories, Inc. (the
"Company") approved changes to the Company's standard compensation
arrangements for non-employee Directors. A summary of the Company's non-employee
Director compensation, effective as of January 1, 2006, is attached as Exhibit 10.1 and
incorporated herein by reference.
The
most significant changes to Director compensation are: (i) an increase in the cash
retainer, (ii) an increase in annual fees for committee chairmen, Audit Committee members
and the Lead Director, (iii) elimination of fees for meeting attendance, (iv) a shift in
equity compensation from stock options vesting in one year to deferred stock awards vested
at grant but not distributed until one year following termination of each Director's
service on the Board, and (v) an increase in the share ownership guideline from $90,000 to
$500,000. The Company does not provide and has not provided benefits or perquisites to its
Directors, other than the reimbursement of expenses associated with meeting attendance.
The
changes to Director compensation were approved as part of the Board's annual review
of Director compensation. In connection with that review, the Compensation Committee of
the Board of Directors retained a compensation consultant to evaluate the design and
competitiveness of the Company's Director compensation. The changes adopted by the
Board of Directors were substantially as recommended by the consultant.
The
Board determined that the new Director compensation and increased share ownership
guideline achieve two principal goals: (i) attraction and retention of highly qualified
directors and (ii) alignment of the interests of Directors with those of long-term owners
of the Company's stock.
Item 9.01 Financial
Statements and Exhibits.
(c)
Exhibits
10.1
Summary
of Non-employee Director Compensation Effective as of January 1, 2006.
2
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused
this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: December 12, 2005
IDEXX LABORATORIES, INC.
By: /s/ Conan R. Deady
Conan R. Deady
Vice President, General Counsel and Secretary
3
EXHIBIT INDEX
Exhibit No.
Description of Exhibit
10.1
Summary
of Non-employee Director Compensation Effective as of January 1, 2006.