Document:

Covidien Employee Stock Purchase Plan (as amended and restated)

 
Exhibit 10.2 
 COVIDIEN EMPLOYEE STOCK
PURCHASE PLAN 
 AS AMENDED AND RESTATED ON JUNE 4, 2009 
  
 ARTICLE 1 
 PURPOSE 
 The Covidien Employee Stock Purchase Plan as amended and restated by Covidien Ltd. effective as of June 4, 2009 and as assumed by Covidien public limited company on
June 4, 2009 (the “Plan”) is created for the purpose of encouraging share ownership by officers and employees of Covidien public limited company (the “Company”) and its subsidiaries so that they may share in growth of the
Company by acquiring or increasing their proprietary interest in the Company. 
 ARTICLE 2 
 ADMINISTRATION OF THE PLAN 
 The Plan is administered by the
Compensation and Human Resources Committee, a committee of the Board of Directors of the Company (the “Committee”). The Committee may delegate its authority and responsibility for plan administration to a committee or an officer or group
of officers, as it deems advisable. The interpretation and construction by the Committee, or its delegate, of any provision of the Plan shall be final and binding on all parties. The Committee, or its delegate, may adopt, from time to time, such
rules and regulations, as it deems appropriate for carrying out the Plan. No member of the Board of Directors or the Committee, or its delegate, shall be liable for any action or determination made in good faith with respect to the Plan. 

ARTICLE 3 
 ELIGIBLE EMPLOYEES

 The Company will, from time to time, determine which of its employees (including employees of its subsidiaries and divisions) will be eligible to
participate in the Plan. All officers who are employees of the Company will be eligible to participate in the Plan. Eligible employees who elect to participate in the Plan shall hereinafter be referred to as “Participants.” 
 ARTICLE 4 
 SHARES TO BE PURCHASED

 The shares subject to purchase under the Plan is 5,000,000 shares (subject to adjustment in the event of share splits, share 

 
dividends, recapitalization, or similar adjustment in the Company’s share capital) of the ordinary share capital of the Company (the “Shares”)
which will be purchased in accordance with Article 8. 
 ARTICLE 5 
 PAYROLL DEDUCTIONS 
 Participants, upon entering the Plan, shall authorize payroll deductions to be
made for the purchase of Shares. The maximum deduction shall not, on a per pay period basis, exceed a Participant’s base salary or commission (in the case of an employee who receives commission and no base salary) and deductions shall be
exclusive of overtime and net withholding and other deductions. The Participant may authorize increases or decreases in the amount of payroll deductions at any time. In order to effect such a change in the amount of the payroll deductions, the
Company must receive notice of such change in the manner specified by the Company and changes will take effect as soon as administratively practicable. The Company will accumulate and hold for the Participant’s account the amounts deducted from
his/her pay. No interest shall be paid on such amounts. Notwithstanding the foregoing, the Committee may, in its sole discretion, authorize a special bonus payment be made to a Participant and such bonus be designated as an employee contribution.
The Company will match such employee contribution, subject to the limit described in the next Article. The bonus may exceed the contribution limits otherwise imposed on the Participant. 
 ARTICLE 6 
 EMPLOYER CONTRIBUTION 
 The Company will match a part of the employee contribution by contributing to the Plan an additional percentage of the Participant’s payroll deduction. The
Committee, from time to time, may increase or decrease the percentage of the Company’s contribution to the Participant’s payroll deduction if the interests of the Company so require. The Company shall not match any part of a
Participant’s contribution that exceeds twenty-five thousand dollars (US) ($25,000.00) during a single calendar year. The matching contributions hereunder are not intended to be entitlement or part of the regular compensation of any
Participant. The Company will pay all commissions relating to the purchase of the Shares under the Plan, and the Company will pay all administrative costs associated with the implementation and operation of the Plan. 

  

 June 2009 

 ARTICLE 7 
 AUTHORIZATION FOR ENTERING THE PLAN 
 An eligible employee may enter the Plan by enrolling in the Plan and specifying his/her contribution amount in the manner authorized by the Company. Such authorization
will take effect as of the next practicable payroll period. Unless a Participant authorizes changes to his/her payroll deductions in accordance with Article 5 or withdraws from the Plan, his/her deductions under the latest authorization on file with
the Company shall continue from one payment period to the succeeding payment period as long as the Plan remains in effect. 
 ARTICLE 8

 PURCHASE OF SHARES 
 All Shares purchased
under the Plan shall be purchased on the open market by a broker designated, from time to time, by the Committee. On a monthly basis, as soon as practicable following the month end, the Company shall remit the total of contributions to the broker
for the purchase of the Shares. The broker will then execute the purchase order and the Plan Administrator shall allocate Shares (or fraction thereof) to each participant’s individual recordkeeping account. In the event the purchase of Shares
takes place over a number of days and at different prices, then each participant’s allocation shall be adjusted on the basis of the average price per Share over such period. 
 ARTICLE 9 
 ISSUANCE OF SHARES 
 The Shares purchased under the Plan shall be held by the Plan Administrator or its nominee. Participants shall receive periodic statements that will evidence all
activity in the accounts that have been established on their behalf. Such statements will be issued by the Plan Administrator or its nominee. 
 ARTICLE 10 
 DIVIDEND REINVESTMENT 
 Any dividends paid to a Participant for Shares purchased under the Plan shall be paid in cash except where the Participant voluntarily elects to reinvest such dividends in Shares of the Company in accordance with such rules or procedures as
may be established by the Company from time to time. 
  

 ARTICLE 11 
 SALE OF SHARES PURCHASED 
 UNDER THE PLAN

 Each Participant may sell at any time all or any portion of the Shares acquired under the Plan and held by the Plan Administrator for at least three
months by notifying the Plan Administrator, who will direct the broker to execute the sale on behalf of the Participant. The Participant shall pay the broker’s commission and any other expenses incurred with regard to the sale of the Shares.
All such sales of the Shares will be subject to compliance with any applicable federal or state securities, tax, or other laws. Each participant assumes the risk of any fluctuations in the market price of the Shares. 
 ARTICLE 12 
 WITHDRAWAL FROM THE PLAN

 A Participant may cease making contributions to the Plan at any time by changing his/her payroll deduction to zero as described in Article 5. In order to
execute a sale of all or part of the Shares purchased under the Plan and held by the Plan Administrator for at least three months, the Participant must contact the Plan Administrator directly. If the Participant desires to withdraw from the Plan by
liquidating all or part of his/her shareholder interest, he/she shall receive the proceeds from the sale thereof, minus the commission and other expenses on such sale. 
 ARTICLE 13 
 NO TRANSFER OR ASSIGNMENT 
 A Participant’s right to purchase Shares under the Plan through payroll deduction is his/hers alone and may not be transferred or assigned to, or availed of, by any other person. 
 ARTICLE 14 
 TERMINATION OF EMPLOYEE
RIGHTS 
 All of the employee’s rights under the Plan will terminate when he/she ceases to be an eligible employee due to retirement, resignation,
death, termination, or any other reason. A notice of withdrawal will be deemed to have been received from a Participant on the day of his/her final payroll deduction. If a Participant’s payroll deductions are interrupted by any legal process, a
withdrawal notice will be deemed as having been received on the day the interruption occurs. 

  

 June 2009 

 ARTICLE 15 
 TERMINATION AND AMENDMENT TO THE PLAN 
 The Plan may be terminated at any time by the Company’s Board of Directors. Upon such termination, or any other termination of the Plan, all payroll deductions not
used to purchase Shares will be refunded. The Board of Directors also reserves the right to amend the Plan, from time to time, in any respect and authorizes the Committee to approve amendments to the Plan on its behalf. 
 ARTICLE 16 
 LOCAL TAX LAWS 

If the provisions of the Plan contradict local tax laws, the local tax laws shall prevail. 
  

 ARTICLE
17 
 GOVERNING LAW 
 This Plan shall be
governed by, and construed in accordance with, the laws of Ireland. 
 ARTICLE 18 
 SEVERABILITY 
 If any provision of this Plan is held unlawful
or otherwise invalid or unenforceable in whole or in part, the unlawfulness, invalidity or unenforceability will not affect any other parts of the Plan, which parts will remain in force and effect. 

  

 June 2009Deed Poll of Assumption relating to Covidien Ltd. Employee Equity Plans

 Exhibit 10.3 
 DATED 4 JUNE 2009 
 COVIDIEN PUBLIC LIMITED COMPANY 
  
  
 DEED POLL OF ASSUMPTION 
 relating to 
 Covidien Ltd. Employee Equity Plans 
  
  

 DEED POLL OF ASSUMPTION 
 OF 
 COVIDIEN PUBLIC LIMITED COMPANY 
 This Deed Poll relating to the Covidien Ltd. employee equity plans listed in Annex A (together the “Employee Equity Plans”) is made on 4 June 2009
by COVIDIEN PUBLIC LIMITED COMPANY, a company established in Ireland with registered number 466385 having its registered office at C/O Tyco Healthcare Services Europe, Block G, First Floor, Cherrywood Business Park, Loughlinstown, Co. Dublin
(“Covidien”). 
 WHEREAS, on 4 June 2009, Covidien Ltd., a company incorporated in Bermuda, received approval from the Supreme
Court of Bermuda for a scheme of arrangement under Bermuda law (the “Scheme of Arrangement”) that effected a transaction that resulted in the common shareholders of Covidien Ltd. becoming ordinary shareholders of Covidien and
Covidien Ltd. becoming a wholly-owned subsidiary of Covidien (the “Transaction”), such Transaction becoming effective on 4 June 2009 upon the filing of the court order sanctioning the Scheme of Arrangement with the Bermuda
Registrar of Companies; 
 WHEREAS, in connection with and contingent upon the consummation of the Transaction, Covidien proposed to assume
(1) all awards issued by Tyco International Ltd. which were converted to Covidien Ltd. awards pursuant to Article VI of the Separation and Distribution Agreement by and among Tyco International Ltd., Covidien Ltd. and Tyco Electronics Ltd.
dated as of 29 June 2007 and which remain outstanding on the effective date of this Deed Poll (the “Converted Tyco Awards”) and (2) the Employee Equity Plans and any outstanding awards issued thereunder (the
“Assumption”); 
 WHEREAS, in connection with and contingent upon the consummation of the Transaction and the Assumption, Covidien
Ltd. amended the Employee Equity Plans as necessary or appropriate to give effect to the Transaction and the Assumption, such amendments principally providing (1) for the appropriate substitution of Covidien for Covidien Ltd. in such plans; and
(2) that shares of Covidien will be issued, held available or used, as appropriate, to measure benefits under such plans, in lieu of shares of Covidien Ltd., including upon the exercise of any stock options or upon the vesting of restricted
units or performance share units issued under such plans; and 
 WHEREAS, as a result of the Transaction becoming effective, Covidien desires to
assume (1) sponsorship of the Employee Equity Plans, the terms of which are contained in Annexes B through I; and (2) the rights and obligations of Covidien Ltd. under the Converted Tyco Awards and the Employee Equity Plans and all
outstanding awards issued thereunder. 
 NOW THIS DEED POLL WITNESSES AS FOLLOWS: 
 Covidien hereby declares, undertakes and agrees for the benefit of each participant in the Employee Equity Plans and the holders of the Converted Tyco Awards, as relevant, that, with effect from 4 June 2009 (the
“Effective Date”), it shall: 
  

	1.	undertake and discharge all of the rights and obligations relating to sponsorship of the Employee Equity Plans and the Converted Tyco Awards which, in each case, have been
undertaken and were to be discharged by Covidien Ltd. prior to the Effective Date; 

  

	2.	exercise all of the powers of the plan sponsor relating to the Employee Equity Plans and the Converted Tyco Awards which were, in each case, exercised by Covidien Ltd. prior to the
Effective Date; 

  

	3.	be bound by the terms of the Employee Equity Plans and Converted Tyco Awards so that Covidien will be bound by the requirements, without limitation, that: 

	 	3.1	any outstanding Award subject to an Award Certificate (as such terms are defined in the Employee Equity Plan listed in Annex A, item 1 and, for this purpose and for purposes of
Section 4 below, as such terms are interpreted and applied to grants issued pursuant to the Employee Equity Plans listed in Annex A, items 2 through 6), any outstanding Option subject to an Option Certificate (as such terms are defined in the
Employee Equity Plan listed in Annex A, item 7) and any Converted Tyco Award (together, the “Assumed Awards”) shall be subject to the same terms and conditions of the respective Employee Equity Plan, Award Certificate, Option
Certificate or Converted Tyco Award as in effect immediately prior to the effective date of this Deed Poll, including the vesting schedule set forth in the applicable Assumed Award, save for such changes as are necessary to effectuate and reflect
the assumption by Covidien of the respective Employee Equity Plan and Assumed Award and the rights and obligations of Covidien Ltd. thereunder; 

  

	 	3.2	with respect to the Covidien 2007 Stock and Incentive Plan Israeli Trustee (Section 102) Plan (the “Israeli Sub-Plan”), in addition to the provisions of
Section 3.1 above, Covidien agrees that any Assumed Awards issued under such sub-plan shall be subject to any applicable tax ruling that may be obtained by Covidien Ltd. or Covidien from the Israeli Tax Authority and certain Covidien Ltd.
shares that were held by the Israeli trustee on behalf of participants in the Israeli Sub-Plan pursuant to the terms of such sub-plan prior to the effective date of this Deed Poll, once converted to ordinary shares of Covidien, shall continue to be
held by the Israeli trustee pursuant to the terms of the Israeli Sub-Plan and in accordance with any applicable tax rulings obtained by Covidien Ltd. or Covidien from the Israeli Tax Authority; and 

  

	 	3.3	certain ordinary shares of Covidien, rather than Covidien Ltd., shall be issued, held available or used, as appropriate, to give effect to (a) purchases made under the Covidien
Employee Stock Purchase Plan on and after the effective date of this Deed Poll; and (b) the Assumed Awards, including upon the vesting of any ordinary shares pursuant to restricted unit awards and performance share unit awards and upon the
exercise of stock options that currently are not vested or that currently are vested but have not yet been exercised; and 

  

	4.	Covidien hereby assumes and adopts, for the time being, the form of Award Certificate adopted by Covidien Ltd. for the issuance of Awards on and after 1 December 2008 and the
form of Option Certificate adopted by Covidien Ltd. for the issuance of Options on and after 22 October 2008, with such amendments and modifications thereto as may be necessary or appropriate to effectuate and reflect the assumption by Covidien
of the Employee Equity Plans and the form of Award Certificate and Option Certificate and the rights and obligations of Covidien Ltd. thereunder. 

 IN WITNESS WHEREOF this Deed Poll has been executed by Covidien on the date first above written. 
  

					
	PRESENT when the common seal of	  	)	  	
	COVIDIEN PUBLIC LIMITED COMPANY	  	)	  	
	was affixed hereto:	  	)	  	

  

	
	
	 /s/ John H. Masterson
 Director

	
	 /s/ John W. Kapples

	Director

  

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 ANNEX A 
 Assumed Employee Equity Plans 
  

	1.	Covidien 2007 Stock and Incentive Plan (as amended and restated 4 June 2009) 

  

	2.	Covidien 2007 Stock and Incentive Plan HM Revenue & Customs Approved Sub-Plan for the United Kingdom (as amended and restated 4 June 2009) 

  

	3.	Covidien 2007 Stock and Incentive Plan French Stock Options Sub-Plan for the Grant of Stock Options to Grantees in France (as amended and restated 4 June 2009)

  

	4.	Covidien 2007 Stock and Incentive Plan French RSU Sub-Plan for the Grant of Restricted Stock Units to Grantees in France (as amended and restated 4 June 2009)

  

	5.	Covidien 2007 Stock and Incentive Plan French PSU Sub-Plan for the Grant of Performance Share Units to Grantees in France (as amended and restated 4 June 2009)

  

	6.	Covidien 2007 Stock and Incentive Plan Israeli Trustee (Section 102) Plan (as amended and restated 4 June 2009) 

  

	7.	Covidien Savings Related Share Plan (as amended and restated 4 June 2009) 

  

	8.	Covidien Employee Stock Purchase Plan (as amended and restated 4 June 2009) 

  

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