Company: PRGO
Filing Date: 2025-03-10
Form Type: PRE 14A
Source: 0000950170-25-035751
Chunk: 58

Company: PERRIGO Co plc
Filing Date: 2025-03-10
Form: PRE 14A
Chunk 58
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 PROXY STATEMENT51
Potential Payments Upon Termination or Change-in-Control 3) In the event of termination without cause or involuntary termination for economic reasons, Mr. Lockwood-Taylor's severance treatment is determined by his respective agreement; Mr. Bezerra's and Ms. Schmelter's's by the Perrigo Company plc U.S. Severance Policy Amended and Restated Effective February 13, 2019; Mr. Janish and Mr. Khoury's by the Perrigo Employee Severance Programme, Ireland. RSUs, PSUs and NQSOs will continue to vest for 24 months under their original vesting schedule. PSUs will vest based on actual performance at the end of the original performance periods. 4) Other benefits include career transition services up to $15,000 for Mr. Bezerra and Ms. Schmelter. Employment Agreement with Chief Executive Officer Mr. Lockwood-Taylor, President and CEO joined Perrigo in June 2023. We set Mr. Lockwood-Taylor's annual target Total Direct Compensation at a competitive rate of $8,240,000 situated between the 25th and the 50th percentile of our executive compensation peer companies.

|                           |     |  Patrick Lockwood-Taylor 
 2024 Target Compensation |
| Base                      |     |               $1,200,000 |
| Annual Incentive Award    |     |               $1,440,000 |
| Long-Term Incentive Award |     |               $5,600,000 |
| Total Direct Compensation |     |               $8,240,000 |

Mr. Lockwood-Taylor's employment agreement provides that his employment may be terminated during the term of the agreement under the following circumstances: • upon Mr. Lockwood-Taylor's death or disability; or • by Perrigo with or without cause (as defined in the agreement). Potential Payments Upon Termination or Change in Control • by mutual agreement; or • by Mr. Lockwood-Taylor with good reason (as defined in the agreement). If during the term of this agreement Mr. Lockwood-Taylor's employment were terminated by us without cause or by him for good reason and he agrees to a release of claims against Perrigo, he would also be entitled to compensation and benefits earned to that date, as well as: • a prorated annual bonus for the year of termination (determined based on actual performance); • payment of an amount equal to 18 months of his then-current