Company: BLCO
Filing Date: 2025-04-10
Form Type: DEF 14A
Source: 0001140361-25-013244
Chunk: 47

Company: Bausch & Lomb Corp
Filing Date: 2025-04-10
Form: DEF 14A
Chunk 47
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 before such IPO Founder Grants can vest and become exercisable will cease to apply to such awards (and as a result, the awards will thereafter only be subject to time-based vesting conditions). The Talent and Compensation Committee also approved amendments to the performance goals applicable to the following B+L PSU awards granted to certain of our eligible current employees (including our NEOs): (i) the 2023 annual relative total shareholder return (“rTSR”) PSUs (the “2023 rTSR Annual PSUs”), (ii) the 2024 annual rTSR PSUs (the “2024 rTSR Annual PSUs”) and (iii) the “outperformance” PSUs granted in 2024 (the “Outperformance PSUs,” and, together with the 2023 rTSR Annual PSUs and 2024 rTSR Annual PSUs, the “Covered PSUs”). Pursuant to these amendments, with respect to the Covered PSUs held by current employees of B+L and its subsidiaries, (i) if the Distribution Date does not occur prior to the date that is 120 calendar days before the first day of the applicable “TSR Measurement Start Date” (i.e., the 20 consecutive trading day period preceding the last day of the rTSR performance period applicable to the Covered PSUs) applicable to such Covered PSUs (such applicable date, the “Performance Assessment Cut-off Date”), then (A) in the case of the 2023 rTSR Annual PSUs and the 2024 rTSR Annual PSUs, the applicable rTSR performance metric shall be deemed achieved at the target performance level (100%) and (B) in the case of the Outperformance PSUs granted in 2024, the applicable relative total shareholder return modifier performance metric will no longer apply; and (ii) if the Distribution Date occurs prior to the Performance Assessment Cut-off Date, then the relative total shareholder return performance metric applicable to such Covered PSUs shall be measured in accordance with the existing terms of the applicable Covered PSU agreements. The achievement of the TSR performance goals for any PSUs granted will be calculated in a manner that does not take into account the issuance of any B+L Common Shares pursuant to any equitable adjustments applicable to BHC equity awards in connection with the Distribution. Equity Grant Practices We have the following practices regarding equity compensation grants:

| + | It is the Talent and Compensation Committee’s policy to approve ordinary course annual equity awards on the day of the Talent and Compensation