Company: PRGO
Filing Date: 2025-03-21
Form Type: DEF 14A
Source: 0000950170-25-042897
Chunk: 59

Company: PERRIGO Co plc
Filing Date: 2025-03-21
Form: DEF 14A
Chunk 59
---
 coverage from another employer-provided plan; and • For his 2023 one-time sign on LTI RSU and PSU grants only, continued vesting of any unvested RSUs and PSUs related to those grants; and • twenty-four months continued vesting of all other unvested RSUs and PSUs, and in the case of PSUs, PSUs will vest or be forfeited based on the attainment of performance goals. If any such termination without cause or for good reason were to occur within 24 months following a change in control, Mr. Lockwood-Taylor would be entitled to the same benefits as listed above, except he would be entitled to: • a cash payment of an amount equal to 24 months of his then-current salary and target bonus rather than 18 months; • a cash payment equal to the cost of health insurance premiums for six months; and • immediate vesting of all equity incentive awards granted to him, and in the case of PSUs, based on “target” levels of achievement.

#### PERRIGO•2025 PROXY STATEMENT51
Potential Payments Upon Termination or Change-in-Control

If Mr. Lockwood-Taylor were terminated for cause, he would receive compensation and benefits earned to date. If Mr. Lockwood-Taylor's employment were terminated for death or disability, he would receive compensation and benefits earned to date, including payment for unused vacation days, as well as a prorated annual bonus for the year of termination (determined based on actual performance).

Payments Under the Annual Incentive Plan

Generally, no portion of the payments under the AIP is considered earned or payable for a particular year unless the NEO is employed by us and in good standing on the incentive bonus payment date. The AIP, however, may require us to make payments to NEOs who are no longer employed by us on the incentive bonus payment date under the following circumstances:

retirement at age 65 or older;

retirement at age 60 or older with at least 10 years of service;

early retirement of a named executive officer under an early retirement plan approved by the TCC;

permanent disability as determined by the TCC; or

death.

Under all circumstances listed above, the NEO, or the executive officer’s estate in the case of death, will be entitled to a pro rata portion of any payment under the AIP for that fiscal year, computed to the date of the termination.

An NEO eligible to receive a post-termination payment under the AIP will