Summary of LABORATORY CORP OF AMERICA HOLDINGS

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(e)

Haas Separation Agreement

On July 8, 2008, Laboratory Corporation of America Holdings (the "Company") entered into a separation agreement and general release (the "Separation Agreement") with William B. Haas, Executive Vice President, Esoteric Business, in connection with his departure from the Company effective May 31, 2008. The Separation Agreement provided Mr. Haas with certain post-employment compensation benefits in exchange for Mr. Haas' execution of a general release and agreement to certain non-compete, non-solicitation and non-disclosure provisions. Following his resignation and the delivery of the release to the Company, Mr. Haas was entitled to receive $937,125 (half of which was payable within 30 days of the effective date of the separation agreement and half of which is payable on the one year anniversary of the effective date of the separation agreement), a pro-rated amount of his 2008 management incentive bonus plan award in the amount of $112,562.50, Cobra coverage for an 18 month period, and the benefits available under the Company's Senior Executive Transition Policy, as well as other benefits specified in the Separation Agreement. The foregoing description of the Separation Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Separation Agreement, which is attached hereto as Exhibit 10.1 and is incorporated herein by reference.

Discretionary Bonus Awards

On February 10, 2009, the Compensation Committee of the Company's Board of Directors awarded the following individuals, who were identified as named executive officers in the Company's Proxy Statement for its 2008 Annual Meeting, with discretionary cash bonuses in the amounts indicated: David P. King, Chief Executive Officer-$160,000; William B. Hayes, Executive Vice President and Chief Financial Officer -$55,000; Bradford T. Smith, Executive Vice President and Chief Legal Officer through January 1, 2009 -$98,000; and Myla P. Lai-Goldman, Executive Vice President, Chief Scientific Officer and Medical Director through December 31, 2008-$51,000.