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Defined Contribution Benefit Plan
 12 Months Ended
May 31, 2020
Defined Contribution Benefit Plan
8.
Defined Contribution Benefit
Plan
The Company maintains a defined contribution 401(k) benefit plan covering substantially all
domestic
employees. Employees are permitted to defer compensation up to IRS limits, with Neogen matching 100% of the first 3% of deferred compensation and 50% of the next 2%
of deferred compensation. Neogen’s expense under this plan was
 
$
1,535,000
, $
1,361,000
, and $
1,325,000
in fiscal years
2020
,
2019
and
2018
, respectively.