Document:

EX-10.24

 Exhibit 10.24 

AAC HOLDINGS, INC. 
 2014
EQUITY INCENTIVE PLAN 
 RESTRICTED SHARE AWARD AGREEMENT 

THIS RESTRICTED SHARE AWARD AGREEMENT (this “Agreement”) is made and entered into effective as of the
     day of                 ,                  (the “Grant
Date”), between AAC Holdings, Inc., a Nevada corporation (“Holdings,” and together with its Affiliates and Subsidiaries, the “Company”), and
                 (the “Grantee”). Capitalized terms not otherwise defined herein shall have the meaning ascribed to such terms in the AAC Holdings, Inc. 2014
Equity Incentive Plan (the “Plan”).  
  

	 	1.	 Grant of Restricted Shares. 

(a)    The Company hereby grants to the Grantee an award (the “Award”) of
             Restricted Shares (the “Restricted Shares”) on the terms and conditions set forth in this Agreement and as otherwise provided in the Plan. 

(b)    The Restricted Shares awarded hereunder shall be evidenced by a “book entry” (i.e., a computerized or
manual entry) in the records of Holdings or its designated agent in the name of the Grantee, and confirmation and account statements sent to the Grantee with respect to such book-entry Shares may bear the restrictive legend referenced in the
preceding sentence. 
 (c)    The Grantee’s rights with respect to the Award shall remain forfeitable at all times
prior to the dates on which the Restricted Shares vest and restrictions lapse in accordance with Section 2 hereof. 
  

	 	2.	 Terms; Vesting. 

(a)    Subject to the Grantee’s continuous service to the Company, the Restricted Shares shall vest and restrictions
thereto shall lapse on the last day of the fiscal year in which the grant of Restricted Shares pursuant to this Agreement is made. 

(b)    Except as otherwise determined by the Committee at or after the grant of the Award hereunder, any Restricted Shares
(including dividends accrued and held thereon) that are not vested shall be forfeited and all rights of the Grantee to such Restricted Shares shall terminate, without further obligation on the part of the Company, upon the termination of the
Grantee’s service to the Company. 
 (c)    Prior to vesting, the Restricted Shares shall be credited with any
dividends payable in cash, Shares or other property paid with respect to such Restricted Shares. Except as determined by the Committee, in the event (a) of any adjustment as provided in Section 4.2 of the Plan, or (b) any cash, Shares
or other property is paid by the Company as a dividend on the Restricted Shares, such cash, Shares or other property payable to the Grantee on such Restricted Shares shall be subject to the same terms and conditions, including any transfer
restrictions, as relate to the Restricted Shares and shall be paid to the Grantee when and if the applicable Restricted Shares vest. The Grantee shall be entitled to voting rights with respect to the Restricted Shares covered by this Award. 

(d)    None of the Restricted Shares may be sold, assigned, transferred, pledged, hypothecated or otherwise encumbered or
disposed of prior to the vesting of such Restricted Shares. 
 3.    Termination of Restrictions. Upon vesting of
the Restricted Shares, the applicable restrictions and restricted stock legend shall be removed from the confirmation and account statements delivered to the Grantee or the Grantee’s beneficiary or estate, as the case may be, in book-entry form
and any dividends or dividend equivalents accrued thereon shall be paid. 

 4.    No Right to Employment. This Agreement shall not be
construed as giving the Grantee the right to be retained in the employ or service of Holdings or any of its Affiliates or Subsidiaries, and Holdings (and its Affiliates and Subsidiaries) may at any time dismiss the Grantee from employment or
service, free from any liability or any claim under the Plan or this Award (but subject to the terms of the Grantee’s employment agreement or change in control agreement, if any, as in effect from time to time). 

5.    Adjustments. The Committee shall make adjustments in the terms and conditions of this Award in recognition of
unusual or nonrecurring events (including, without limitation, the events described in Section 4.2 of the Plan) affecting Holdings or any Affiliate, or the financial statements of Holdings or any Affiliate, or of changes in applicable laws,
regulations or accounting principles. In addition, in the event of certain corporate transactions or events described in Section 4.2 of the Plan, the Committee may (i) provide for an equivalent award in respect of securities of the
surviving entity of any merger, consolidation or other transaction or event having a similar effect or (ii) make provision for a cash payment to the Grantee. 

6.    Amendment to Award. Subject to the restrictions contained in the Plan, the Committee may waive any conditions
or rights under, amend any terms of, or alter, suspend, discontinue, cancel or terminate the Award, prospectively or retroactively; provided that except as otherwise provided in the Plan, any such waiver, amendment, alteration, suspension,
discontinuance, cancellation or termination that would adversely affect the rights of the Grantee or any holder or beneficiary with respect to the Award shall not, to that extent, be effective without the consent of the Grantee, holder or
beneficiary. 
 7.    Withholding of Taxes. Upon the lapse of the restrictions and the issuance of Shares with
respect to any portion of this Award, the Grantee may be required to pay to the Company and the Company shall have the right and is hereby authorized to withhold from the Award, from any payment due or transfer made under the Award or under the
Plan, or from any compensation or other amount owing to the Grantee the amount (in cash, Shares, other securities, other Awards or other property) of any applicable withholding or other tax-related obligations
in respect of the Award, any transaction involving the Award, or any payment or transfer under the Award or under the Plan and to take such other action as may be necessary in the opinion of the Company to satisfy all obligations for the payment of
such taxes. Without limiting the generality of the authorization described above, the Committee may in its discretion permit the Grantee to satisfy or arrange to satisfy, in whole or in part, the tax obligations incident to the Award by:
(a) electing to have Holdings withhold Shares or other property otherwise deliverable to the Grantee pursuant to the Award (provided, however, that the amount of any Shares so withheld shall not exceed the amount necessary to satisfy required
federal, state local and foreign withholding obligations using the minimum statutory withholding rates for federal, state, local and/or foreign tax purposes, including payroll taxes, that are applicable to supplemental wage income) and/or
(b) tendering to Holdings Shares owned by the Grantee (or by the Grantee and his or her spouse jointly) and purchased or held for the requisite period of time as may be required to avoid Holding’s or the Affiliates’ incurring an
adverse accounting charge, based, in each case, on the Fair Market Value of the Shares on the payment date as determined by the Committee. All such elections shall be irrevocable, made in writing, signed by the Grantee, and shall be subject to any
restrictions or limitations that the Committee, in its sole discretion, deems appropriate. 
 8.    Plan Governs.
The Grantee hereby acknowledges receipt of a copy of the Plan and agrees to be bound by all the terms and provisions thereof. The terms of this Award are governed by the terms of the Plan, and in the case of any inconsistency between the terms of
this Award and the terms of the Plan, the terms of the Plan shall govern. 

  
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 9.    Severability. If any provision of this Agreement is, or
becomes, or is deemed to be invalid, illegal, or unenforceable in any jurisdiction or as to any Person or the Award, or would disqualify the Plan or Award under any laws deemed applicable by the Committee, such provision shall be construed or deemed
amended to conform to the applicable laws, or if it cannot be construed or deemed amended without, in the determination of the Committee, materially altering the intent of the Plan or the Award, such provision shall be stricken as to such
jurisdiction, Person or Award, and the remainder of the Plan and Award shall remain in full force and effect. 

10.    Notices. All notices required to be given under this Agreement shall be deemed to be received if delivered
or mailed as provided for herein, to the parties at the following addresses, or to such other address as either party may provide in writing from time to time. 
  

			
	To the Company:	  	AAC Holdings, Inc.
		  	200 Powell Place
		  	Brentwood, Tennessee 37027
		  	Attn: Chris Chi
		
	To the Grantee:	  	The address then maintained with respect to the Grantee in the Company’s records.

 11.    Governing Law. The validity, construction and effect of this Agreement shall
be determined in accordance with the laws of the State of Nevada without giving effect to conflicts of laws principles. 

12.    Successors in Interest. This Agreement shall inure to the benefit of and be binding upon any successor to
the Company. All obligations imposed upon the Grantee and all rights granted to the Company under this Agreement shall be binding upon the Grantee’s heirs, executors, administrators and successors. 

13.    Resolution of Disputes. Any dispute or disagreement which may arise under, or as a result of, or in any way
related to, the interpretation, construction or application of this Agreement shall be determined by the Committee. Any determination made hereunder shall be final, binding and conclusive on the Grantee and the Company for all purposes. 

  
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 IN WITNESS WHEREOF, the parties have caused this Restricted Share Award Agreement to
be duly executed effective as of the day and year first above written. 
  

			
	AAC HOLDINGS, INC.

 
			
		
	By: 	 	 

 
			
	 Name:
	 	
	 Title:
	 	
	
	GRANTEE:
	
	  

 [Signature Page to Restricted Share Award Agreement]EX-10.1

 Exhibit 10.1 

PERRIGO COMPANY PLC 

2019 LONG-TERM INCENTIVE PLAN 
 SECTION
1.    PURPOSE AND HISTORY. Perrigo Company, a Michigan corporation, sponsored the Perrigo Company 2008 Long-Term Incentive Plan (the “2008 Plan”) to encourage employees, directors and other persons
providing significant services to Perrigo Company and its subsidiaries and/or Affiliates to acquire a proprietary interest in the growth and performance of Perrigo Company, to generate an increased incentive to contribute to its future success and
prosperity, thus enhancing the value of Perrigo Company for the benefit of share owners, and to enhance the ability of Perrigo Company to attract and retain individuals of exceptional talent upon whom, in large measure, the sustained progress,
growth and profitability of Perrigo Company depends. Perrigo Company amended and restated the 2008 Plan and renamed the 2008 Plan the Perrigo Company 2013 Long-Term Incentive Plan (the “2013 Plan”) which was approved by the Perrigo
Company shareholders on November 18, 2013. Effective December 18, 2013, Perrigo Company became a wholly-owned subsidiary of Perrigo Company plc, a public limited company headquartered in Ireland, and Perrigo Company plc assumed sponsorship
of the 2013 Plan. Perrigo Company plc has amended and restated the 2013 Plan, as set forth herein, and has renamed the 2013 Plan the Perrigo Company plc 2019 Long-Term Incentive Plan (the “2019 Plan” or the “Plan”).

 SECTION 2.    DEFINITIONS. As used in the Plan, the following terms shall have the meanings set forth below: 

(a)    “Affiliate” and “Associate” have the respective meanings ascribed to such terms
in Rule 12b-2 of the General Rules and Regulations under the Exchange Act. 

(b)    “Award” means any Option, Stock Appreciation Right, Restricted Share Award, Performance Share,
Performance Unit, Restricted Share Unit, or any other right, interest, or option relating to Shares or other securities of Perrigo granted pursuant to the provisions of the Plan. 

(c)    “Award Agreement” means any written agreement, contract, or other instrument or document
evidencing any Award granted hereunder and signed by both Perrigo and the Participant. 

(d)    “Beneficiary” means the person or persons to whom an Award is transferred by his or her will or by
the laws of descent and distribution of the state in which the Participant resided at the time of his or her death. 

(e)    “Board” means the Board of Directors of Perrigo Company plc. 

(f)    “Cause” means any of the following events, as determined by the Committee: 

(1)    The commission of an act which, if proven in a court of law, would constitute a felony violation
under applicable criminal laws; 
 (2)    A breach of any material duty or obligation imposed upon the
Participant by the Company; 

  
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 (3)    Divulging the Company’s confidential
information, or breaching or causing the breach of any confidentiality agreement to which the Participant or the Company is a party; 

(4)    Engaging or assisting others to engage in business in competition with the Company; 

(5)    Refusal to follow a lawful order of the Participant’s superior or other conduct which the Board
or the Committee determines to represent insubordination on the part of the Participant; or 

(6)    Other conduct by the Participant which the Board or the Committee, in its discretion, deems to be
sufficiently injurious to the interests of the Company to constitute cause. 
 (g)    “CEO” means the
Chief Executive Officer of Perrigo. 
 (h)    A “Change in Control” means the occurrence of any of the
following: 
 (1)    Any person, entity or “group” (within the meaning of Section 13(d) or
14(d) of the Exchange Act or any comparable successor provisions) (other than (A) Perrigo, (B) any employee benefit plan of the Company or any Trustee of or fiduciary with respect to any such plan when acting in such capacity, or (C) any
person who, on the Effective Date of the Plan, is an Affiliate of Perrigo and owning in excess of ten percent (10%) of the outstanding Shares of Perrigo and the respective successors, executors, legal representatives, heirs and legal assigns of such
person), alone or together with its Affiliates and associates, and other than in a merger or consolidation of the type referred to in subsection (h)(2) below, has acquired or obtained the right to acquire the beneficial ownership of fifty percent
(50%) or more of the Shares then outstanding; 
 (2)    The consummation of a merger, consolidation or
similar transaction involving Perrigo and, immediately after the consummation of such merger, consolidation or similar transaction, the shareholders of Perrigo immediately prior to such consummation do not beneficially own (within the meaning of
Rule 13d-3 of the Exchange Act or comparable successor rules), directly or indirectly, either (A) outstanding voting securities representing more than fifty percent (50%) of the combined voting power of
the surviving entity in such merger, consolidation or similar transaction, or (B) outstanding voting securities representing more than fifty percent (50%) of the combined voting power of the parent of the surviving entity in such merger,
consolidation or similar transaction; or 
 (3)    The Continuing Directors no longer constitute a
majority of the Board. 
 (i)    “Code” means the Internal Revenue Code of 1986, as amended from time
to time, and any successor thereto. 
 (j)    “Committee” means the Remuneration Committee of the
Board, which shall consist of not fewer than three directors, taking into consideration for each such director (i) the rules under Section 16(b) of the Exchange Act regarding “non-employee
directors,” (ii) to the extent the 

  
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administration of an Award relates to a Grandfathered Award, the requirements of Section 162(m) of the Code regarding “outside directors,” and (iii) the rules regarding
“independent directors” of the securities exchange on which the Shares are listed, or any successor definition to any of the foregoing. For purposes of the Plan, reference to the Committee shall be deemed to refer to any subcommittee,
subcommittees, or other persons or groups of persons to whom the Committee’s authority has been delegated pursuant to Section 3(a) or Section 3(b) of the Plan. 

(k)    “Company” means Perrigo Company plc, its subsidiaries and/or Affiliates. 

(l)    “Continuing Director” means any person who was a member of the Board on the Effective Date of the
Plan, and any new director thereafter elected by the shareholders or appointed by the Board, provided such new director’s election or nomination for election by the Perrigo shareholders was approved by a majority of directors who were either
directors on the Effective Date or whose election or nomination for election was previously so approved. 

(m)    “Covered Employee” means a “covered employee” within the meaning of
Section 162(m)(3) of the Code as in effect immediately prior to enactment of P.L. 115-97. 

(n)    “Disability” means (i) with respect to an Employee, disability as defined under the
Company’s long term disability insurance plan under which such Employee is then covered; (ii) with respect to any Participant who is not covered under a Company long-term disability plan, the Participant is unable to engage in any
substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or which has lasted or can be expected to last for a continuous period of not less than 12 months, as
determined by the Committee in its sole discretion. 
 (o)    “Dividend Equivalent” means a credit made
to the bookkeeping account maintained by the Committee on behalf of a Participant, in an amount equal to the dividends paid on one Share for each Share represented by an Award held by such Participant, as described in Section 11 hereof. 

(p)    “Effective Date” has the meaning set forth in Section 17 hereof. 

(q)    “Employee” means any employee of the Company. 

(r)    “Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time, and any
successor thereto. 
 (s)    “Fair Market Value” means (i) with respect to a Share, the last
reported sale price of a Share on the date of determination, or on the most recent date on which the Share is traded prior to that date, as reported on the securities exchange on which the Shares are listed, and (ii) with respect to any other
property, the fair market value of such property determined by such methods or procedures as shall be established from time to time by the Committee. 

(t)    “Grandfathered Award” means an Award granted to a Covered Employee prior to November 2, 2017,
which is (i) intended to constitute “qualified performance-based compensation” within the meaning of Section 162(m) of the Code as in effect immediately prior to enactment of P.L. 115-97
and (ii) not modified in any material respect on or after November 2, 2017, within the meaning of Section 13601(e)(2) of P.L. 115-97, as may be amended from time to time (including any rules and
regulations promulgated thereunder). 

  
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 (u)    “Incentive Stock Option” means an Option that,
at the time such Option is granted under Section 6 hereof, qualifies as an incentive stock option within the meaning of Section 422 of the Code or any successor provision thereto. Only Employees may be awarded Incentive Stock Options. 

(v)    “Involuntary Termination for Economic Reasons” means that the Participant’s Termination Date
occurs due to involuntary termination of employment by the Company by reason of a corporate restructuring, a disposition or acquisition of a business or facility, or a downsizing or layoff, as determined by the CEO, in his sole discretion, or by the
Committee in the case of a Participant subject to Section 16 of the Exchange Act. 
 (w)    “Nonstatutory
Stock Option” means an Option granted under Section 6 hereof that is not intended to be an Incentive Stock Option. 

(x)    “Option” means an Award of an Incentive Stock Option or a Nonstatutory Stock Option. 

(y)    “Original Effective Date” means October 28, 2003. 

(z)    “Participant” means an Employee who has been granted an Award under the Plan. 

(aa)    “Performance Award” means any Award of Performance Shares or Performance Units pursuant to
Section 9 hereof. 
 (bb)    “Performance Period” means the period established by the Committee at
the time any Performance Award is granted or at any time thereafter during which the performance goals specified by the Committee with respect to such Award are to be measured. 

(cc)    “Performance Share” means any grant pursuant to Section 9 hereof of a unit valued by
reference to a designated number of Shares, which value may be paid to the Participant by delivery of such property as the Committee shall determine, including, without limitation, cash, Shares, or any combination thereof, upon achievement of such
performance goals during the Performance Period as the Committee shall establish at the time of such grant or thereafter. 

(dd)    “Performance Unit” means any grant pursuant to Section 9 hereof of a unit valued by
reference to a designated amount of property other than Shares, which value may be paid to the Participant by delivery of such property as the Committee shall determine, including, without limitation, cash, Shares, or any combination thereof, upon
achievement of such performance goals during the Performance Period as the Committee shall establish at the time of such grant or thereafter. 

(ee)    “Perrigo” means Perrigo Company plc and any successor thereto. 

  
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 (ff)    “Person” means any individual, corporation,
partnership, association, joint-stock company, Company, unincorporated organization, limited liability company, other entity or government or political subdivision thereof. 

(gg)    “Prior Stock Plans” means (i) the Perrigo Company Employee Stock Option Plan, (ii) the
Perrigo Company Non-Qualified Stock Option Plan for Directors, (iii) the Perrigo Company Restricted Stock Plan for Directors, and (iv) the Perrigo Company Restricted Stock Plan for Directors II. 

(hh)    “Restricted Share” means any Share issued with the restriction that the holder may not sell,
transfer, pledge, or assign such Share and with such other restrictions as the Committee, in its sole discretion, may impose (including, without limitation, any restriction on the right to vote such Share, and the right to receive any cash
dividends), which restrictions may lapse separately or in combination at such time or times, in installments or otherwise, as the Committee may deem appropriate. 

(ii)    “Restricted Share Award” means an award of Restricted Shares under Section 8 hereof. 

(jj)    “Restricted Share Unit” or “RSU” means restricted share units which entitle the
Participant to receive Shares or the value thereof which is determined in whole or in part, or is otherwise based, on Shares pursuant to Section 10 hereof. 

(kk)    “Retirement” means a Participant’s Termination Date which occurs (i) pursuant to a
voluntary early retirement program approved by the Board or the Committee, (ii) after attaining age 65, or (iii) after attaining age 60 with ten or more years of service with the Company. For this purpose, a year of service shall be a
completed 12-month period of service beginning on the first day of the Participant’s service with the Company as an Employee or an anniversary of such date. 

(ll)    “Shares” means ordinary shares, nominal value €0.001 per share, of Perrigo and such other
securities of Perrigo as the Committee may from time to time determine. 
 (mm)    “Short-Term Deferral
Period” means, with respect to an amount payable pursuant to an Award, the period ending no later than the 15th day of the third month following the later of (i) the end of the Participant’s taxable year in which the amount is no
longer subject to a substantial risk of forfeiture, or (ii) the end of Perrigo’s fiscal year in which the amount is no longer subject to a substantial risk of forfeiture. A Participant shall have no discretion over the payment date and
shall have no right to interest as a result of payment on a date other than the first day of the Short-Term Deferral Period. 

(nn)    “Stock Appreciation Right” means any right granted to a Participant pursuant to Section 7
hereof to receive, upon exercise by the Participant, the excess of (i) the Fair Market Value of one Share on the date of exercise over (ii) the grant price of the right on the date of grant, or if granted in connection with an outstanding
Option on the date of grant of the related Option, as specified by the Committee in its sole discretion, which shall not be less than the Fair Market Value of one Share on such date of grant of the right or the related Option, as the case may be.
Any payment by the Company in respect of such right may be made in cash, Shares, other property, or any combination thereof, as the Committee, in its sole discretion, shall determine. 

  
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 (oo)    “Ten Percent Shareholder” means a person who
owns (after taking into account the attribution rules of Section 424(b) of the Code or any successor provision thereto) more than 10% of the combined voting power of all classes of shares beneficial interest of the Company. 

(pp)    “Termination Date” means the date that a Participant ceases to be an Employee and ceases to
perform any material services for the Company, including, but not limited to, advisory or consulting services or services as a member of the Board. Unless otherwise determined by the Committee in its sole discretion, for purposes of the Plan, an
Employee shall be considered to have a Termination Date if his or her employer ceases to be an Affiliate, even if he or she continues to be employed by such employer. 

SECTION 3.    ADMINISTRATION. 

(a)    AUTHORITY OF COMMITTEE. The Plan shall be administered by the Committee. The Committee shall have full power and
authority, subject to such orders or resolutions not inconsistent with the provisions of the Plan as may from time to time be adopted by the Board, to: (i) select the Participants to whom Awards may be granted; (ii) determine the type or
types of Awards to be granted to Participants; (iii) determine the number of Shares to be covered by each Award granted hereunder and the term of each such Award; (iv) determine the terms and conditions, not inconsistent with the
provisions of the Plan, of any Award granted hereunder (including approval of any form of Award Agreement), which terms and conditions may provide for the forfeiture of Awards, the repayment of cash or Shares or other amounts received with respect
to an Award and/or the repayment of any gains or profits on a Participant’s sale of Shares acquired under an Award under specified circumstances; (v) determine whether, to what extent and under what circumstances Awards may be settled in
cash, Shares or other property or canceled or suspended; (vi) determine whether, to what extent and under what circumstances cash, Shares and other property and other amounts payable with respect to an Award under this Plan shall be deferred
either automatically or at the election of the Participant; (vii) determine whether, to what extent and under what circumstances, any Award shall be canceled or suspended; (viii)interpret and administer the Plan and any instrument or agreement
entered into under the Plan; (ix) establish, amend and rescind rules and regulations relating to the Plan, (x) establish, amend and rescind rules and regulations relating to the Plan (including the adoption of any sub-plan under the Plan) for the purpose of satisfying applicable foreign laws and/or qualifying for preferred tax treatment under applicable foreign laws; (xi) appoint such agents as it shall deem appropriate
for the proper administration of the Plan; and (xii) make any other determination and take any other action that the Committee deems necessary or desirable for administration of the Plan. Decisions of the Committee shall be final, conclusive
and binding upon all persons, including the Company, any Participant, and shareholder, and any Employee of the Company. Perrigo has adopted sub-plans governing awards taxable in the State of Israel and the
Republic of Ireland, which sub-plans are attached hereto as Appendix A and Appendix B. Perrigo has also adopted Appendix C as a sub-plan governing Awards to non-employee directors and consultants. 
 (b)    DELEGATION. The CEO has the
authority to grant Awards to Participants, other than Participants who are subject to Section 16 of the Exchange Act, and to determine the terms and conditions of such Awards (including approval of any form of Award Agreement), subject to the
limitations of the Plan and such other limitations and guidelines as the Committee may deem appropriate. Such delegation of authority includes, but is not limited to, the authority to determine 

  
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(i) the type or types of Awards to be granted, (ii) the number of Shares to be covered by each such Award, (iii) the expiration date of each such Award, (iv) the period during
which an Option shall be exercisable which may be determined at or subsequent to grant, (v) the restriction period applicable to Restricted Share Awards and to RSUs, (vi) the performance criteria and performance period applicable to
Performance Awards, (vii) the terms and conditions relating to the effect of a Participant’s Termination Date, and (viii) the effect of a Change in Control on such Awards. 

(c)    AWARD AGREEMENTS 

(1)    MINIMUM VESTING. No Award granted under the Plan may vest, in whole or in part, prior to the one-year anniversary of the date of grant of the Award. Notwithstanding the foregoing, a Participant’s Award Agreement may provide for accelerated vesting if the Participant’s Termination Date occurs due
to the Participant’s death, Disability or Retirement, upon a Change in Control, or upon the Participant’s termination without “cause” (as defined in the applicable Award Agreement) or separation for “good reason” (as
defined in the applicable Award Agreement) within a specified period following a Change in Control. The forgoing one-year minimum vesting period shall not apply to any Award granted in substitution for an
Award pursuant to Section 4(f) that does not reduce the vesting period of the Award being substituted. 

(2)    VESTING DURING DISABILITY. Unless the Committee determines otherwise, the vesting of Awards granted
hereunder shall continue during any period of short-term disability. A Participant who is absent from work due to a long-term disability shall continue to vest until the earlier of (i) the six month anniversary of the commencement of the
Participant’s long-term disability, or (ii) the Participant’s Termination Date. 

(3)    PAYMENT FOR AWARDS. Except as otherwise required in any Award Agreement or by the terms of the Plan,
recipients of Awards under the Plan shall not be required to make any payment or provide consideration other than the rendering of services. 

(4)    ACCEPTANCE OF AWARD. The prospective recipient of any Award under the Plan shall not, with respect
to such Award, be deemed to have become a Participant, or to have any rights with respect to such Award, until and unless such recipient shall have executed an agreement or other instrument evidencing the Award and delivered a fully executed copy
thereof to Perrigo, and otherwise complied with the then applicable terms and conditions. 
 SECTION 4.    DURATION OF, AND SHARES
SUBJECT TO PLAN. 
 (a)    TERM. The Plan shall remain in effect until terminated by the Board, provided, however,
that no Award may be granted under the Plan more than 10 years after the Effective Date, but any Award theretofore granted may extend beyond that date. 

(b)    SHARES SUBJECT TO THE PLAN. The maximum number of Shares in respect for which Awards may be granted under the Plan,
subject to adjustment as provided in Section 4(f) of the Plan, is (i) 3,000,000, plus (ii) the number of Shares that remained available for issuance under the 2013 Plan as of the Effective Date (including Shares underlying outstanding
awards 

  
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under the 2013 Plan and Prior Stock Plans that are forfeited, terminated, expire unexercised or are otherwise settled without the delivery of Shares on and after the Effective Date). No further
awards shall be made under the Prior Stock Plans after the Original Effective Date. 
 (c)    AWARD SHARE LIMITS. No
individual Employee may be granted Awards in any one calendar year with respect to more than 400,000 Shares. The maximum amount payable in cash to a Covered Employee for any calendar year with respect to any Award subject to Section 14 shall be
$6,000,000. 
 (d)    COMPUTATION OF SHARES. For the purpose of computing the total number of Shares available for
Awards under the Plan, there shall be counted against the above limits the number of Shares subject to issuance upon the exercise or settlement of Awards as of the dates on which such Awards are granted. The Shares which were previously subject to
Awards shall again be available for Awards under the Plan if any such Awards are forfeited, terminated, expire unexercised, settled in cash or exchanged for other Awards (to the extent of such forfeiture or expiration of such Awards), or if the
Shares subject thereto can otherwise no longer be issued. Further, any Shares which are used as full or partial payment to Perrigo by a Participant of the purchase price of Shares or the tax withholding requirement with respect to any Awards granted
under the Plan shall again be available for Awards under the Plan. The number of Shares that are forfeited, expire unexercised or are otherwise settled without the delivery of Shares under the Prior Stock Plans on and after the Original Effective
Date shall again be available for Awards under this Plan. If a Stock Appreciation Right is settled in Shares, Shares that are in excess of the net Shares delivered on exercise of such Stock Appreciation Right shall be added back to the number of
Shares available for future Awards under the Plan. 
 (e)    SOURCE OF SHARES. Shares which may be issued under the Plan
may be either authorized and unissued shares or issued shares which have been reacquired by Perrigo. No fractional shares shall be issued under the Plan. The Committee shall determine whether cash, Awards, or other property shall be issued or paid
in lieu of fractional Shares or whether such fractional Shares or any rights thereto shall be forfeited or otherwise eliminated. In all cases the Committee shall require that the nominal value of each newly issued Share issued in satisfaction of an
Award under the Plan (including any sub-plan) shall be paid up. 

(f)    CHANGES IN SHARES. In the event of any merger, reorganization, consolidation, recapitalization, stock dividend,
stock split, reverse stock split, spin off or similar transaction or other change in corporate structure affecting the Shares, the Committee shall make equitable adjustments and substitutions with respect to (i) the aggregate number, class and
kind of Shares which may be delivered under the Plan, in the aggregate or to any one Participant, (ii) the number, class, kind and option or exercise price of Shares subject to outstanding Options, Stock Appreciation Rights or other Awards
granted under the Plan, and (iii) the number, class and kind of Shares subject to, Awards granted under the Plan (including, if the Committee deems appropriate, the substitution of similar options to purchase the shares of, or other awards
denominated in the shares of, another company). The Committee shall have the sole discretion to determine the manner of such equitable adjustment or substitution, provided that the number of Shares or other securities subject to any Award shall
always be a whole number. 

  
 8 

 SECTION 5.    ELIGIBILITY. Any Employee shall be eligible to be selected
as a Participant. Awards may be granted to Employees who are foreign nationals or employed outside the United States, or both, on such terms and conditions different from those specified in the Plan as may, in the judgment of the Committee, be
necessary or desirable in order to recognize differences in local law or tax policy. The Committee also may impose conditions on the exercise or vesting of Awards in order to minimize the Company’s obligation with respect to tax equalization
for Participants on assignments outside their home country. 
 SECTION 6.    STOCK OPTIONS. Options may be granted
hereunder to Participants either alone or in addition to other Awards granted under the Plan. Any Option granted under the Plan shall be evidenced by an Award Agreement in such form as the Committee may from time to time approve. Any such Option
shall be subject to the following terms and conditions and to such additional terms and conditions, not inconsistent with the provisions of the Plan, as the Committee shall deem desirable: 

(a)    OPTION PRICE. The purchase price per Share purchasable under an Option shall be determined by the Committee in its
sole discretion; provided that (i) such purchase price shall not be less than the Fair Market Value of the Share on the date of the grant of the Option, and (ii) such purchase price for an Incentive Stock Option granted to a Ten Percent
Shareholder shall be not less than 110% of the Fair Market Value of the Share on the date of grant of the Option. 

(b)    OPTION PERIOD. The term of each Option shall be fixed by the Committee in its sole discretion; provided that
(i) no Option shall be exercisable after the expiration of 10 years from the date the Option is granted, and (ii) no Incentive Stock Option granted to a Ten Percent Shareholder shall be exercisable after the expiration of five years from
the date the Option is granted. 
 (c)    EXERCISABILITY. Options shall be exercisable at such time or times as
determined by the Committee at or subsequent to grant. Unless otherwise determined by the Committee at or subsequent to grant, no Incentive Stock Option shall be exercisable during the year ending on the day before the first anniversary date of the
granting of the Incentive Stock Option. 
 (d)    METHOD OF EXERCISE. Subject to the other provisions of the Plan and
any applicable Award Agreement, any Option may be exercised by the Participant in whole or in part at such time or times, and the Participant may make payment of the option price in such form or forms, including, without limitation, payment by
delivery of cash, Shares or other consideration (including, where permitted by law and the Committee, Awards) having a Fair Market Value on the exercise date equal to the total option price, or by any combination of cash, Shares and other
consideration as the Committee may specify in the applicable Award Agreement. 
 (e)    INCENTIVE STOCK OPTIONS. In
accordance with rules and procedures established by the Committee, the aggregate Fair Market Value (determined as of the time of grant) of the Shares with respect to which Incentive Stock Options held by any Participant which are exercisable for the
first time by such Participant during any calendar year under the Plan (and under any other benefit plans of Perrigo or of any parent or subsidiary corporation of Perrigo) shall not exceed $100,000 or, if different, the maximum limitation in effect
at the time of grant under 

  
 9 

 
Section 422 of the Code, or any successor provision, and any regulations promulgated thereunder. The terms of any Incentive Stock Option granted hereunder shall comply in all respects with
the provisions of Section 422 of the Code, or any successor provision, and any regulations promulgated thereunder. An Incentive Stock Option must be exercised within three months following the Participant’s Termination Date, or within 12
months if such termination is by reason of death or Disability. If an Option intended to be an Incentive Stock Option fails to satisfy the requirements of Section 422 of the Code, such Option will automatically convert to a Nonstatutory Stock
Option. 
 (f)    REPRICING. Except in connection with a corporate transaction involving Perrigo (including, without
limitation, any stock dividend, stock split, extraordinary cash dividend, recapitalization, reorganization, merger, consolidation, split-up, spin-off, combination, or
exchange of shares), the terms of outstanding Awards may not be amended to reduce the exercise price of outstanding Options or Stock Appreciation Rights or cancel outstanding Options or Stock Appreciation Rights in exchange for cash, other Awards or
Options or Stock Appreciation Rights with an exercise price that is less than the exercise price of the original Options or Stock Appreciation Rights, without the approval of Perrigo’s shareholders. 

SECTION 7.    STOCK APPRECIATION RIGHTS. 

(a)    GRANT OF AWARDS. Stock Appreciation Rights may be granted hereunder to Participants either alone or in addition to
other Awards granted under the Plan and may, but need not, relate to a specific Option granted under Section 6. Each Share subject to a Stock Appreciation Right shall have an exercise price of not less than Fair Market Value of a Share on the
date of grant of the Stock Appreciation Right. The term of the Stock Appreciation Right shall be fixed by the Committee in its sole discretion, provided that no Stock Appreciation Right shall be exercisable after the expiration of 10 years from the
date the Stock Appreciation Right is granted. The Committee, in its sole discretion, shall establish or impose such other terms and conditions with respect to Stock Appreciation Rights as it shall deem appropriate, which need not be the same with
respect to each recipient. 
 (b)    OPTIONS. Any Stock Appreciation Right related to a Nonstatutory Stock Option may be
granted at the same time such Option is granted or at any time thereafter before exercise or expiration of such Option. Any Stock Appreciation Right related to an Incentive Stock Option must be granted at the same time such Option is granted, and
may be exercised only if and when the Fair Market Value of the Shares subject to the Incentive Stock Option exceeds the aggregate purchase price for the Option. In the case of any Stock Appreciation Right related to any Option, the Stock
Appreciation Right or applicable portion thereof shall terminate and no longer be exercisable upon the termination or exercise of the related Option, except that a Stock Appreciation Right granted with respect to less than the full number of Shares
covered by a related Option shall not be reduced until the exercise or termination of the related Option exceeds the number of shares not covered by the Stock Appreciation Right. Any Option related to any Stock Appreciation Right shall no longer be
exercisable to the extent the related Stock Appreciation Right has been exercised. 

  
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 SECTION 8.    RESTRICTED SHARES. 

(a)    GRANT OF AWARDS. Restricted Share Awards may be issued hereunder to Participants, for no cash consideration or for
such minimum consideration as may be required by applicable law, either alone or in addition to other Awards granted under the Plan. The provisions of Restricted Share Awards need not be the same with respect to each recipient. 

(b)    REGISTRATION. Any Restricted Shares issued hereunder may be evidenced in such manner as the Committee in its sole
discretion shall deem appropriate, including, without limitation, book-entry registration or issuance of a stock certificate or certificates. In the event any stock certificate is issued in respect of Restricted Shares awarded under the Plan, such
certificate shall be registered in the name of the Participant, and shall bear an appropriate legend referring to the terms, conditions, and restrictions applicable to such Award. 

(c)    FORFEITURE. Except as set forth in Section 12 or otherwise determined by the Committee at the time of grant,
upon a Participant’s Termination Date for any reason during the restriction period, all Restricted Shares still subject to restriction shall be forfeited by the Participant and reacquired by Perrigo; provided that the Committee may, in its sole
discretion, when it finds that a waiver would be in the best interests of Perrigo, waive in whole or in part any or all remaining restrictions with respect to such Participant’s Restricted Shares, except for Restricted Share Awards that are
intended to comply with the performance-based compensation requirements of Section 14. Unrestricted Shares, evidenced in such manner as the Committee shall deem appropriate, shall be issued to the grantee promptly after the period of
forfeiture, as determined or modified by the Committee, shall expire. 
 SECTION 9.    PERFORMANCE AWARDS. 

(a)    GRANT OF AWARDS. Performance Awards may be issued hereunder to Participants, for no cash consideration or for such
minimum consideration as may be required by applicable law, either alone or in addition to other Awards granted under the Plan. The performance criteria to be achieved during any Performance Period, the length of the Performance Period, and the
amount of the Award to be distributed shall be determined by the Committee upon the grant of each Performance Award. Subject to the provisions of the Plan, the Committee, in its sole discretion, shall determine the Participants to whom and the time
or times at which such Awards shall be made and all conditions of the Awards. The provisions of Performance Awards need not be the same with respect to each recipient. 

(b)    PAYMENT OF AWARDS. Following the end of each Performance Period, the Committee shall certify the extent to which
the performance criteria and other conditions of the Award are achieved. Except as otherwise provided in the Plan, Performance Awards shall be settled following the Committee’s certification after the end of the relevant Performance Period, but
in no event shall settlement occur later than the last day of the Short-Term Deferral Period applicable to the Award. Performance Awards may be paid in cash, Shares, other property or any combination of the foregoing, as determined in the sole
discretion of the Committee at the time of payment. 

  
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 SECTION 10.    RESTRICTED SHARE UNIT AWARDS. 

(a)    GRANT OF AWARDS. Restricted Share Unit (“RSU”) Awards may be granted hereunder to Participants either
alone or in addition to other Awards granted under the Plan. At the time of grant of an RSU Award, the Committee shall determine the number of RSUs subject to the Award, when such RSUs shall vest, any conditions (such as continued employment) that
must be met in order for the RSUs to vest at the end of the applicable restriction period, and any purchase price applicable to the Award. The Committee shall establish a bookkeeping account in the Participant’s name that reflects the number
and type of RSUs standing to the credit of the Participant. 
 (b)    PAYMENT OF AWARDS. Each RSU that vests entitles
the Participant to one Share, cash equal to the Fair Market Value of a Share on the date of vesting, or a combination thereof as determined by the Committee and set forth in the Award Agreement. Except as otherwise provided in the Plan or in an
Award Agreement, payment in Shares or cash (as applicable) shall be made upon the vesting of an RSU and in no event later than the last day of the Short-Term Deferral Period; provided, however, that a Change in Control (as defined in Section 2)
shall not accelerate the payment date of an RSU that is subject to Section 409A of the Code unless such Change in Control is also a “change in control event” as defined in the regulations under Section 409A of the Code. 

SECTION 11.    DIVIDEND EQUIVALENTS 

If the Committee so determines at the time of grant of an Award, Perrigo shall credit to a bookkeeping account maintained on behalf of such
Participant an amount equal to the amount of the dividends the Participant would have received, if such Award held by the Participant on the record date for such dividend payment had been a Share. No interest or other earnings shall accrue on such
bookkeeping account. Amounts attributable to such dividend equivalents shall be subject to the same terms and conditions as the Awards to which such dividend equivalents relate. Notwithstanding the foregoing, any dividend equivalents granted in
connection with unvested Awards shall be payable only if and to the extent the underlying Awards become vested. 
 SECTION
12.    EFFECT OF TERMINATION DATE 
 (a)    AWARDS, GENERALLY. The Committee shall have the
discretion to establish terms and conditions relating to the effect of the Participant’s Termination Date on Awards under the Plan. 

(b)    OPTIONS, STOCK APPRECIATION RIGHTS, AND RESTRICTED SHARES. Unless otherwise determined by the Committee with
respect to an Award of Options, Stock Appreciation Rights or Restricted Shares as provided in the applicable Award Agreement, and subject to the terms of the Plan, the following provisions shall apply to Options, Stock Appreciation Rights and
Restricted Shares on a Participant’s Termination Date. 
 (1)    DEATH, DISABILITY, RETIREMENT. If
the Participant’s Termination Date occurs due to the Participant’s death, Disability or Retirement, (i) the restriction period with respect to any Restricted Shares shall lapse, and (ii) the Participant’s outstanding Options
and Stock Appreciation Rights shall immediately vest in full and may 

  
 12 

 
thereafter be exercised in whole or in part by the Participant (or the duly appointed fiduciary of the Participant’s estate or Beneficiary in the case of death, or conservator of the
Participant’s estate in the case of Disability) at any time prior to the expiration of the respective terms of the Options or Stock Appreciation Rights, as applicable. 

(2)    INVOLUNTARY TERMINATION FOR ECONOMIC REASONS. If the Participant’s Termination Date occurs by
reason of Involuntary Termination for Economic Reasons, the Participant may exercise his or her Options and Stock Appreciation Rights, to the extent vested, at any time prior to the earlier of (i) the date which is 30 days after the date which
is 24 months after such Termination Date, or (ii) the expiration of the respective terms of the Options or Stock Appreciation Rights. Any Options, Stock Appreciation Rights or Restricted Shares that are not vested at such Termination Date, but
are scheduled to vest during the 24-month period following the Termination Date, shall continue to vest during such 24-month period according to the vesting schedule in
effect prior to such Termination Date. Any Options, Stock Appreciation Rights and Restricted Shares that are not scheduled to vest during such 24-month period will be forfeited on the Termination Date.
Notwithstanding the foregoing, if the Participant’s Termination Date occurs for a reason that is both described in this Section 12(b)(2) and in Section 13(a), the special vesting rules described in Section 13(a) shall apply in
lieu of the vesting rules described in this Section 12(b)(2). 
 If the Participant dies after the Termination Date
while his or her Options or Stock Appreciation Rights remain exercisable under this paragraph (2), the duly appointed fiduciary of the Participant’s estate or his or her Beneficiary may exercise the Options and Stock Appreciation Rights (to the
extent that such Options and Stock Appreciation Rights were vested and exercisable prior to death), at any time prior to the later of the date which is (i) 30 days after the date which is 24 months after the Participant’s Termination Date, or
(ii) 12 months after the date of death, but in no event later than the expiration of the respective terms of the Options and Stock Appreciation Rights. 

(3)    TERMINATION FOR CAUSE. If the Participant’s Termination Date is for Cause, at the time such
notice of termination is given by the Company (i) any Restricted Shares subject to a restriction period shall be forfeited, and (ii) the Participant’s right to exercise his or her Options and Stock Appreciation Rights shall terminate.
If within 60 days of a Participant’s Termination Date the Company discovers circumstances which would have permitted it to terminate the Participant’s employment or service for Cause, such Termination Date shall be deemed to have occurred
for reasons of Cause. Any Shares, cash or other property paid or delivered to the Participant under the Plan within 60 days of such Termination Date shall be forfeited and the Participant shall be required to repay such amount to the Company. 

(4)    OTHER TERMINATION OF EMPLOYMENT OR SERVICE. If the Participant’s Termination Date occurs for
reasons other than as described in this Section 12(b), the Participant shall have the right to exercise his or her Options and Stock Appreciation Rights at any time prior to the earlier of (i) the date which is three months after such
Termination Date, or (ii) the expiration date of the respective terms of the Options or Stock Appreciation Rights, as applicable, but only to the extent such Option or 

  
 13 

 
Stock Appreciation Right, as applicable, was vested prior to such Termination Date. Any Options or Stock Appreciation Rights which are not vested at such Termination Date shall be forfeited on
the Termination Date. 
 If the Participant dies after the Termination Date while his or her Options or Stock Appreciation
Rights remain exercisable under this paragraph (4), the duly appointed fiduciary of the Participant’s estate or his or her Beneficiary may exercise the Options or Stock Appreciation Rights (to the extent that such Options or Stock Appreciation
Rights were vested and exercisable prior to death), at any time prior to the earlier of (i) 12 months after the date of death, or (ii) the expiration of the respective terms of the Options or Stock Appreciation Rights, as applicable. 

(c)    SERVICE-VESTING RSU AWARDS. Unless determined otherwise by the Committee with respect to a service-based vesting
RSU Award, the following provisions shall apply. 
 (1)    DEATH, DISABILITY, RETIREMENT. If the
Participant’s Termination Date occurs due to the Participant’s death, Disability or Retirement, a service-based vesting RSU shall immediately vest in full, provided that any such Disability is a disability as defined in Section 409A
of the Code and the regulations thereunder. Payment of the Award due to death or Disability shall be made within the Short-Term Deferral Period. Subject to Section 16(f) regarding specified employees, payment of the Award due to Retirement
shall be made within the 75-day period following the Participant’s separation from service (as defined in Section 409A); provided, however, that the Participant shall not have the right to designate
the year of payment if such period spans two calendar years. 
 (2)    INVOLUNTARY TERMINATION FOR
ECONOMIC REASONS. If the Participant’s Termination Date occurs by reason of an Involuntary Termination for Economic Reasons that constitutes a separation from service (as defined in Section 409A), (x) any Shares subject to a service-based
vesting RSU Award that are scheduled to vest during the 24-month period following such Termination Date shall continue to vest during such 24-month period according to
the vesting schedule in effect prior to such Termination Date, and (y) any Shares that are not scheduled to vest during such period shall be forfeited on the Termination Date. Subject to Section 16(f) regarding specified employees, the
Participant shall receive payment with respect to such Award when the scheduled vesting date or dates occur. Notwithstanding the foregoing, if the Participant’s Termination Date occurs for a reason that is both described in this
Section 12(c)(2) and in Section 13(a), the special vesting rules described in Section 13(a) shall apply in lieu of the vesting rules described in this Section 12(c)(2). 

(3)    TERMINATION FOR CAUSE. If the Participant’s Termination Date is for Cause, at the time such
notice of termination is given by the Company, the portion of any service-based vesting RSU Award that is not vested shall be forfeited at the time of such notice of termination. If within 60 days of a Participant’s Termination Date the Company
discovers circumstances which would have permitted it to terminate the Participant’s employment or service for Cause, such Termination Date shall be deemed to have occurred for reasons of Cause. Any Shares, cash or other property paid or
delivered to the Participant under the Plan within 60 days of such Termination Date shall be forfeited and the Participant shall be required to repay such amount to the Company. 

  
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 (4)    OTHER TERMINATION OF EMPLOYMENT OR SERVICE. If
the Participant’s Termination Date occurs for reasons other than as described in this Section 12(c), the portion of any service-based vesting RSU Award that is not vested at such Termination Date shall be forfeited on the Termination Date.

 (d)    PERFORMANCE-VESTING RSU AWARDS (“PSUs”). Unless otherwise determined by the Committee with respect
to an RSU Award, the following provisions shall apply. 
 (1)    DEATH, DISABILITY, RETIREMENT. If the
Participant’s Termination Date occurs due to the Participant’s death, Disability or Retirement, any Shares subject to the PSU Award shall vest or be forfeited depending on the attainment of performance goals. Subject to Section 16(f)
regarding specified employees, the Participant shall receive payment with respect to such PSU Award in accordance with
 Section 9(b). 

(2)    INVOLUNTARY TERMINATION FOR ECONOMIC REASONS. If the Participant’s Termination Date occurs by
reason of an Involuntary Termination for Economic Reasons that constitutes a separation from service (as defined in Section 409A), (i) any Shares subject to the PSU Award for which the Performance Period is scheduled to end during the 24-month period following such Termination Date shall vest or be forfeited depending on the attainment of performance goals, and (ii) any Shares subject to the PSU Award for which the Performance Period is not
scheduled to end during such 24-month period shall be forfeited on the Termination Date. Subject to Section 16(f) regarding specified employees, the Participant shall receive payment with respect to such
PSU Award in accordance with Section 9(b). Notwithstanding the foregoing, if the Participant’s Termination Date occurs for a reason that is both described in this Section 12(d)(2) and in Section 13(a), the special vesting rules
described in Section 13(a) shall apply in lieu of the vesting rules described in this Section 12(d)(2).  

(3)    TERMINATION FOR CAUSE. If the Participant’s Termination Date is for Cause, at the time such
notice of termination is given by the Company, the portion of any PSU Award that is not vested shall be forfeited at the time of such notice of termination. If within 60 days of a Participant’s Termination Date the Company discovers
circumstances which would have permitted it to terminate the Participant’s employment or service for Cause, such Termination Date shall be deemed to have occurred for reasons of Cause. Any Shares, cash or other property paid or delivered to the
Participant under the Plan within 60 days of such Termination Date shall be forfeited and the Participant shall be required to repay such amount to the Company. 

(4)    OTHER TERMINATION OF EMPLOYMENT OR SERVICE. If the Participant’s Termination Date occurs for
reasons other than as described in this Section 12(d), the portion of any PSU Award that is not vested at such Termination Date shall be forfeited on the Termination Date. 

  
 15 

 SECTION 13.    CHANGE IN CONTROL PROVISIONS 

Notwithstanding any other provision of the Plan to the contrary, unless otherwise determined by the Committee with respect to an Award as stipulated in the
applicable Award Agreement, in the event of a Change in Control: 
 (a)    If the Participant’s Termination Date
occurs by reason of a termination without “cause” (as is defined in the applicable Award Agreement) or a separation for “good reason” (as defined in the applicable Award Agreement) on or after a Change in Control and prior to the
two year anniversary of the Change in Control, the following shall apply to Awards held by Participants: 

(1)    Any Options and Stock Appreciation Rights outstanding as of such Termination Date, and which are not
then exercisable and vested, shall become fully exercisable and vested. 
 (2)    The restrictions and
deferral limitations and other conditions applicable to any Restricted Shares shall lapse, and such Restricted Shares shall become free of all restrictions and limitations and become fully vested and transferable. 

(3)    All Performance Awards shall be considered to be earned and payable as if target performance had
been obtained for the performance period. In addition, any deferral or other restriction applicable to the Performance Awards shall lapse and such Performance Awards shall be settled as soon as practicable after the Participant’s Termination
Date. 
 (4)    The restrictions and deferral limitations and other conditions applicable to any
service-based vesting RSU Award shall lapse, and such RSU Awards shall become fully vested and shall be settled as soon as practicable after the Participant’s Termination Date. 

(b)    In addition to the foregoing, the Committee may take any one or more of the following actions with respect to any
or all Awards that were granted on or after February 7, 2007, without the consent of any Participant: 

(1)    The Committee may require that Participants surrender outstanding Options and Stock Appreciation
Rights in exchange for one or more payments by the Company, in cash or Shares as determined by the Committee, equal to the amount, if any, by which the then Fair Market Value of the Shares subject to the Participant’s unexercised Options and
Stock Appreciation Rights exceeds the purchase price. Payment shall be made on such terms as the Committee determines. 

(2)    After giving Participants an opportunity to exercise their outstanding Options and Stock
Appreciation Rights, the Committee may terminate any or all unexercised Options and Stock Appreciation Rights at such time as the Committee deems appropriate. 

  
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 (3)    The Committee may determine that any Awards that
remain outstanding after the Change in Control shall be converted to similar grants of the surviving corporation (or a parent or subsidiary of the surviving corporation). 

(4)    Any such surrender, termination or conversion shall take place as of the date of the Change in
Control or such other date as the Committee may specify. 
 SECTION 14.    GRANDFATHERED AWARDS 

(a)    Notwithstanding any other provision of this Plan, the provisions of this Section 14 shall apply to
Grandfathered Awards. 
 (b)    If an Award is subject to this Section 14, then the lapsing of restrictions thereon
and the distribution of cash, Shares or other property pursuant thereto, as applicable, shall be subject to the achievement of one or more objective performance goals established by the Committee, which shall be based on the attainment of one or any
combination of the following: cash flow; cash flow from operations; net income, total earnings; earnings per share, diluted or basic; earnings per share from continuing operations, diluted or basic; earnings before interest and taxes; earnings
before interest, taxes, depreciation, and amortization; earnings from operations; net asset turnover; inventory turnover; capital expenditures; net earnings; operating earnings; gross or operating margin; debt; working capital; return on equity;
return on net assets; return on total assets; return on capital; return on invested capital; return on investment; return on sales; net or gross sales; market share; economic value added; cost of capital; change in assets; expense reduction levels;
cost control; debt reduction; productivity; delivery performance; safety record; stock price; stock price appreciation; and total stockholder return, of Perrigo or the Affiliate or division of Perrigo for or within which the Participant is primarily
employed. Such performance goals also may be based upon the attaining specified levels of Company performance under one or more of the measures described above relative to the performance of other corporations. Such performance goals shall be set by
the Committee within the times period prescribed by, and shall otherwise comply with the requirements of, Section 162(m) of the Code and the regulations thereunder as in effect immediately prior to enactment of P.L. 115-97. 
 (c)    Notwithstanding any provision of this Plan other than
Section 13, with respect to any Award that is subject to this Section 14, the Committee may not adjust upwards the amount payable pursuant to such Award, nor may it waive the achievement of the applicable performance goals except in the
case of the death or disability of the Participant. 
 (d)    The Committee shall have the power to impose such other
restrictions on Awards subject to this Section 14 as it may deem necessary or appropriate to ensure that such Awards satisfy all requirements for “performance-based compensation” within the meaning of Section 162(m)(4)(B) of the
Code as in effect immediately prior to enactment of P.L. 115-97. 

  
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 SECTION 15.    AMENDMENT AND TERMINATION. 

(a)    The Board may amend, alter or discontinue the Plan at any time; provided, however, no amendment, alteration, or
discontinuation shall be made that would impair the rights of an optionee or Participant under an Award theretofore granted, without the optionee’s or Participant’s consent; provided, further that, any amendment that would (i) except
as is provided in Section 4(f) of the Plan, increase the total number of shares reserved for the purpose of the Plan, (ii) change the employees or class of employees eligible to participate in the Plan, (iii) change the minimum
exercise price for any Option or Stock Appreciation Right below the minimum price set forth in Section 6(a) and Section 7 of the Plan, as applicable, or (iv) materially (within the meaning of rules of the securities exchange on which
the Shares are then listed) change the terms of the Plan, shall not be effective without the approval of Perrigo’s shareholders. 

(b)    The Committee may amend the terms of any Award theretofore granted; provided, that no such amendment shall impair
the rights of any Participant without his or her consent. In addition, the CEO may amend the terms of any Award theretofore granted to a Participant who is not subject to Section 16 of the Exchange Act; provided, that no such amendment shall
impair the rights of any Participant without his or her consent. 
 (c)    Except as provided in Section 14
(regarding Grandfathered Awards), the Committee shall be authorized to make adjustments in Performance Award criteria or in the terms and conditions of non-Performance Awards in recognition of unusual or
nonrecurring events affecting the Company or its financial statements or changes in applicable laws, regulations or accounting principles. The Committee may correct any defect, supply any omission or reconcile any inconsistency in the Plan or any
Award in the manner and to the extent it shall deem desirable to carry it into effect. In the event the Company shall assume outstanding employee benefit awards or the right or obligation to make future such awards in connection with the acquisition
of another corporation or business entity, the Committee may, in its discretion, make such adjustments in the terms of Awards under the Plan as it shall deem appropriate. 

SECTION 16.    GENERAL PROVISIONS. 

(a)    TRANSFERS OF AWARDS. Unless otherwise determined by the Committee (or the CEO, as applicable) with respect to an
Award other than an Incentive Stock Option, no Award, and no Shares subject to Awards granted under the Plan which have not been issued or as to which any applicable restriction, performance or deferral period has not lapsed, may be sold, assigned,
transferred, pledged or otherwise encumbered, except by will or by the laws of descent and distribution or pursuant to a domestic relations order; provided that, if so determined by the Committee (or the CEO, as applicable), a Participant may, in
the manner established by the Committee (or the CEO), designate a beneficiary to exercise the rights of the Participant with respect to any Award upon the death of the Participant. Unless otherwise determined by the Committee (or the CEO, as
applicable), each Award shall be exercisable, during the Participant’s lifetime, only by the Participant or, if permissible under applicable law, by the Participant’s guardian or legal representative. Notwithstanding the foregoing, subject
to such rules as the Committee may establish, a Nonstatutory Stock Option may be transferred by a Participant during his or her lifetime to a trust, partnership or other entity established for the benefit of the Participant and his or her immediate
family which, for purposes of the Plan, shall mean those persons who, at 

  
 18 

 
the time of such transfer, would be entitled to inherit part or all of the estate of the Participant under the laws of intestate succession then in effect in the state in which the Participant
resides if the Participant had died on such transfer date without a will. 
 (b)    NO RIGHT TO BE GRANTED AWARDS. No
Employee or Participant shall have any claim to be granted any Award under the Plan nor to remain in the employment or service of the Company and there is no obligation for uniformity of treatment of Employees or Participants under the Plan. The
Committee may, in its sole discretion, condition eligibility for an Award on the execution of a noncompete or similar-type agreement. 

(c)    SHARE CERTIFICATES. All certificates for Shares delivered under the Plan pursuant to any Award shall be subject to
such stock-transfer orders and other restrictions as the Committee may deem advisable under the rules, regulations, and other requirements of the Securities and Exchange Commission, any securities exchange upon which the Shares are then listed, and
any applicable Federal or state securities law, and the Committee may cause a legend or legends to be put on any such certificates to make appropriate reference to such restrictions. 

(d)    DEFERRAL OF AWARDS. The Committee shall be authorized to establish procedures pursuant to which the payment of any
Award may be deferred. Subject to the provisions of this Plan and any Award Agreement, the recipient of an Award (including, without limitation, any deferred Award) may, if so determined by the Committee, be entitled to receive, currently or on a
deferred basis, interest or dividends, or interest or dividend equivalents, with respect to the number of shares covered by the Award, as determined by the Committee, in its sole discretion, and the Committee may provide that such amounts (if any)
shall be deemed to have been reinvested in additional Shares or otherwise reinvested. Notwithstanding the foregoing, any dividends or dividend equivalents shall be payable only if and to the extent the underlying Awards become vested. 

(e)    DELIVERY AND EXECUTION OF ELECTRONIC DOCUMENTS. To the extent permitted by applicable law, Perrigo may
(i) deliver by email or other electronic means (including posting on a web site maintained by the Company or by a third party under contract with the Company) all documents relating to the Plan or any Award thereunder (including, but not
limited to, prospectuses required by the U.S. Securities and Exchange Commission) and all other documents that Perrigo is required to deliver to its shareholders (including, but not limited to, annual reports and proxy statements), and
(ii) permit Participants to electronically execute applicable Plan documents (including, but not limited to, Award Agreements) in the manner prescribed by the Committee. 

(f)    SECTION 409A SPECIFIED EMPLOYEES AND SEPARATE PAYMENTS. Notwithstanding any other provision of the Plan, if and to
the extent any portion of any payment of an Award that is subject to Section 409A is payable upon the Participant’s separation from service (as defined in Section 409A) and the Participant is a specified employee (as defined in
Section 409A) as determined by Perrigo in accordance with its procedures, such portion of the payment shall be delayed to the first business day following the six-month anniversary of such separation from
service. Each amount payable under an Award that is subject to Section 409A is hereby designated a separate payment for purposes of Section 409A. 

  
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 (g)    WITHHOLDING TAXES. The Company shall be authorized to withhold
from any Award granted or payment due under the Plan the amount of any withholding taxes due in respect of an Award or payment hereunder, including withholding from other compensation payable to the Participant by the Company, and shall take all
actions as it determines are necessary to satisfy all obligations for the payment of applicable withholding taxes, including, without limitation, any Federal Insurance Contributions Act (“FICA”) taxes due on the vesting of an Award. The
Committee shall be authorized to establish procedures for Participants to elect to satisfy such withholding tax obligations by (i) the delivery of, or directing the Company to retain, Shares, or (ii) tendering payment to the Company in the
form of a personal check, a bank order, a money order, or such other form of cash payment as may be approved by the Committee. In no event may the number of Shares withheld exceed the number necessary to satisfy the maximum Federal, state and local
income and employment tax withholding requirements. 
 (h)    NO IMPACT ON ADOPTION OF OTHER COMPENSATION PROGRAMS.
Nothing contained in this Plan shall prevent the Board from adopting other or additional compensation arrangements, subject to shareholder approval if such approval is otherwise required; and such arrangements may be either generally applicable or
applicable only in specific cases. 
 (i)    GOVERNING LAW. The Plan and Awards granted under the Plan shall be governed
by the applicable Code provisions to the maximum extent possible. Otherwise, the laws of the State of Michigan (without reference to principles of conflicts of laws) shall govern the operation of, and the rights of Participants under, the Plan and
Awards granted hereunder. With respect to Awards granted to Participants who are foreign nationals or who are employed outside the United States, the Plan and any rules and regulations relating to the Plan shall be governed by the applicable Code
provisions to the maximum extent possible and otherwise by the laws of the State of Michigan (without reference to principles of conflicts of laws) and, to the extent that applicable foreign law differs from the Code and Michigan law, in accordance
with applicable foreign law. 
 If any provision of this Plan is or becomes or is deemed invalid, illegal or unenforceable in any
jurisdiction, or would disqualify the Plan or any Award under any law deemed applicable by the Committee, such provision shall be construed or deemed amended to conform to applicable laws or if it cannot be construed or deemed amended without, in
the determination of the Committee, materially altering the intent of the Plan, it shall be stricken and the remainder of the Plan shall remain in full force and effect. 

(j)    FORFEITURE OF AWARDS. If Perrigo, as a result of misconduct, is required to prepare an accounting restatement
due to material noncompliance with any financial reporting requirement under the securities laws, then (a) if a Participant’s incentive or equity-based compensation is subject to automatic forfeiture due to such misconduct and restatement
under Section 304 of the Sarbanes-Oxley Act of 2002, or (b) the Committee determines the Participant either knowingly engaged in or failed to prevent the misconduct, or the Participant’s actions or inactions with respect to the
misconduct and restatement constituted gross negligence, the Participant shall (i) be required to reimburse Perrigo for any gain associated with any Option or Stock Appreciation Right exercised during the
12-month period following the first public issuance or filing with the SEC (whichever first occurred) of the financial document embodying such 

  
 20 

 
financial reporting requirement (the “12-Month Window”), (ii) be required to reimburse Perrigo the amount of any payment (whether payment is made
in cash, Shares or other property, and including any payment with respect to dividends and/or dividend equivalents) relating to any RSUs, PSUs, Restricted Shares and/or Performance Shares earned, accrued or settled during the 12-Month Window, and (iii) all outstanding Awards that have not yet been settled or exercised shall be immediately forfeited. In addition, Shares acquired under the Plan (including Shares acquired through
the exercise of Options and/or Stock Appreciation Rights), and any gains or profits on the sale of such Shares, shall be subject to any “clawback” or recoupment policy later adopted by Perrigo. 

SECTION 17.    EFFECTIVE DATE OF PLAN. This amendment and restatement of the Plan shall be effective on the date that it is
approved by Perrigo’s shareholders (the “Effective Date”). 

  
 21 

 APPENDIX A 

2019 LONG-TERM INCENTIVE PLAN 

SUB-PLAN GOVERNING AWARDS TAXABLE IN THE STATE OF ISRAEL 

 

	1.	 GENERAL 

  

	 	1.1.	 This Appendix A (the “Appendix”) shall apply only to the grant of Awards to participants who
are residents of the state of Israel for Israeli income tax purposes. The provisions specified hereunder shall form an integral part of the Perrigo Company plc 2019 Long-Term Incentive Plan (hereinafter: the “Plan”).

  

	 	1.2.	 This Appendix shall comply with Amendment no. 132 of the Israeli Tax Ordinance, which is effective with respect
to Awards granted as of January 1, 2003. 

  

	 	1.3.	 This Appendix is to be read as a continuation of the Plan and only modifies grants made to Israeli Participants
so that they comply with the requirements set by the Israeli law in general, and in particular with the provisions of Section 102 (as specified herein), as may be amended or replaced from time to time. For the avoidance of doubt, this Appendix
does not add to or modify the Plan in respect of any other category of Participants. 

  

	 	1.4.	 The Plan and this Appendix are complimentary to each other and shall be deemed as one. In any case of
contradiction, whether explicit or implied, between the provisions of this Appendix and the Plan, the provisions set out in the Appendix shall prevail. 

  

	 	1.5.	 Awards granted to non-employee directors and consultants under this
Appendix shall also be subject to the “Consultant and NED Sub-Plan” (Appendix C to the Plan). 

  

	 	1.6.	 Any capitalized terms not specifically defined in this Appendix shall be construed according to the
interpretation given to it in the Plan. 

  

	2.	 DEFINITIONS 

  

	 	2.1.	 “Affiliate” means any “employing company” within the meaning of Section 102(a)
of the Ordinance. 

  

	 	2.2.	 “Approved 102 Award” means an Award granted pursuant to Section 102(b) of the Ordinance
and held in trust by a Trustee for the benefit of the Participant, or supervised by a Trustee in accordance with the instructions set forth by the ITA. 

  

	 	2.3.	 “Award” means a Restricted Share Unit, a Restricted Share, a Performance Share, a
Performance Unit, a Stock Appreciation Right, and/or an Option granted to Israeli Participants. 

  

	 	2.4.	 “Capital Gain Award” or “CGA” means an Approved 102 Award elected and
designated by the Company to qualify under the capital gain tax treatment in accordance with the provisions of Section 102(b)(2) of the Ordinance. 

  
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	 	2.5.	 “Controlling Shareholder” shall have the meaning ascribed to it in Section 32(9) of the
Ordinance. 

  

	 	2.6.	 “Employee” means a person who is employed by Perrigo or its Affiliates, including an
individual who is serving as a director or an office holder, but excluding any Controlling Shareholder, all as determined in Section 102 of the Ordinance. 

 

	 	2.7.	 “ITA” means the Israeli Tax Authorities. 

 

	 	2.8.	 “Non-Employee” means a consultant, adviser, service
provider, Controlling Shareholder or any other person who is not an Employee. 

  

	 	2.9.	 “Ordinary Income Award” or “OIA” means an Approved 102 Award elected and
designated by the Company to qualify under the ordinary income tax treatment in accordance with the provisions of Section 102(b)(1) of the Ordinance. 

  

	 	2.10.	 “102 Award” means any Award granted to Employees pursuant to Section 102 of the
Ordinance. 

  

	 	2.11.	 “3(i) Award” means any Award granted pursuant to Section 3(i) of the Ordinance to
any person who is a Non-Employee. 

  

	 	2.12.	 “Ordinance” means the 1961 Israeli Income Tax Ordinance [New Version] 1961 as now in effect or
as hereafter amended. 

  

	 	2.13.	 “Section 102” means section 102 of the Ordinance and any regulations, rules, orders or
procedures promulgated thereunder as now in effect or as hereafter amended. 

  

	 	2.14.	 “Section 3(i)” means section 3(i) of the Ordinance. 

 

	 	2.15.	 “Trustee” means any individual appointed by Perrigo to serve as a trustee and approved
by the ITA, all in accordance with the provisions of Section 102(a) of the Ordinance. 

  

	 	2.16.	 “Unapproved 102 Award” means an Award granted pursuant to Section 102(c) of the
Ordinance and not held in trust by a Trustee. 

  

	3.	 ISSUANCE OF AWARDS 

 

	 	3.1.	 The persons eligible for participation in the Plan as Participants under this Appendix shall include any
Employees and/or Non-Employees; provided, however, that (i) Employees may only be granted 102 Awards; and (ii) Non-Employees may only be granted 3(i) Awards.
Each Award Agreement shall state, inter alia, the type of Award granted (whether a CGA, an OIA, Unapproved 102 Award or a 3(i) Award). 

  

	 	3.2.	 The Company may designate Awards granted to Employees pursuant to Section 102 as Unapproved 102 Awards or
Approved 102 Awards. 

  

	 	3.3.	 The grant of Approved 102 Awards shall be made under this Appendix. 

  
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	 	3.4.	 Approved 102 Awards may either be classified as CGAs or OIAs. 

 

	 	3.5.	 Non Approved 102 Awards may be granted under this Appendix to any eligible Employee, unless and until, the
Company’s election of the type of Approved 102 Awards as CGA or OIA granted to Employees (the “Election”), is appropriately filed with the ITA. Such Election shall become effective beginning the first date of grant of an
Approved 102 Award under this Appendix and shall remain in effect until the end of the year following the year during which the Company first granted Approved 102 Awards. The Election shall obligate the Company to grant only the type of
Approved 102 Award it has elected, and shall apply to all Participants who were granted Approved 102 Awards during the period indicated herein, all in accordance with the provisions of Section 102(g) of the Ordinance. For the avoidance of
doubt, such Election shall not prevent the Company from granting Unapproved 102 Awards simultaneously. 

  

	 	3.6.	 All Approved 102 Awards must be held in trust by a Trustee, as described in Section 4 below.

  

	 	3.7.	 For the avoidance of doubt, the designation of Unapproved 102 Awards and Approved 102 Award shall be subject to
the terms and conditions set forth in Section 102. 

  

	4.	 TRUSTEE 

  

	 	4.1.	 Approved 102 Awards which shall be granted under this Appendix and/or any Shares allocated or issued upon
exercise of such Approved 102 Awards and/or other shares received subsequently following any realization of rights, including without limitation bonus shares, shall be allocated or issued to the Trustee and held for the benefit of the Participants,
or shall be supervised by the Trustee in accordance with the instructions set forth by the ITA, for such period of time as required by Section 102 or any regulations, rules or orders or procedures promulgated thereunder (the “Holding
Period”). In the case the requirements for Approved 102 Awards are not met, then the Approved 102 Awards may be regarded as Unapproved 102 Awards, all in accordance with the provisions of Section 102. 

 

	 	4.2.	 Notwithstanding anything to the contrary, the Trustee shall not release any Shares allocated or issued upon the
grant or the exercise of Approved 102 Awards prior to the full payment of the Participant’s tax liabilities arising from Approved 102 Awards which were granted to him and/or any Shares allocated or issued upon the grant and/or exercise of such
Approved 102 Awards. 

  

	 	4.3.	 With respect to any Approved 102 Awards, subject to the provisions of Section 102 and any rules or
regulation or orders or procedures promulgated thereunder, a Participant shall not sell or release from trust any Share received upon the grant and/or exercise of an Approved 102 Award and/or any share received subsequently following any realization
of rights, including without limitation, bonus shares, until the lapse of the Holding Period required under Section 102 of the Ordinance. Notwithstanding the above, if any such sale or release occurs during the Holding Period, the sanctions
under Section 102 of the Ordinance and under any rules or regulations or orders or procedures promulgated thereunder shall apply to and shall be borne by such Participant only. 

  
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	 	4.4.	 Upon receipt of Approved 102 Award, the Participant will sign an undertaking to release the Trustee from any
liability in respect of any action or decision duly taken and bona fide executed in relation with this Appendix, or any Approved 102 Award or Share granted to him thereunder. 

 

	 	4.5.	 In order to ensure the full payment of tax by an Israeli Participant the Company, at its own discretion may
deposit the Unapproved 102 Award which shall be granted under this Appendix and/or any Shares allocated or issued upon exercise of such Unapproved 102 Awards and/or other shares received subsequently following any realization of rights, including
without limitation bonus shares, with the Trustee which shall hold such Awards, for the benefit of the Participants for such period of time as determined by the Company. 

 

	5.	 FAIR MARKET VALUE 

Without derogating from Section 2(s) of the Plan and solely for the purpose of determining the tax liability pursuant to
Section 102(b)(3) of the Ordinance, as long as at the date of grant Perrigo’s shares are listed on any established stock exchange or a national market system, the fair market value of the Shares at the date of grant shall be determined in
accordance with the average value of Perrigo’s shares on the thirty (30) trading days preceding the date of grant. 
  

	6.	 EXERCISE OF OPTIONS OR SARs 

Options or SARs shall be exercised by the Participant in accordance with the provisions of the Plan and section 4 above, and with regard to an
Approved 102 Award, in accordance with the requirements of Section 102. 
  

	7.	 VESTING OF AWARDS 

Awards shall vest in accordance with the provisions of the Plan and section 4 above, and with regard to an Approved 102 Award, in accordance
with the requirements of Section 102. 
  

	8.	 SETTLEMENT OF 102 AWARDS 

Notwithstanding anything to the contrary in the Plan, the settlement of 102 Awards shall be in Shares only. 

 

	9.	 PERFORMANCE AWARDS 

 

	 	9.1.	 Performance Awards granted to Israeli Participants under this Appendix, shall state specifically within the
Award Agreement, the maximum amount of Shares to which the Participant may be entitled, subject to achieving the Maximum performance criteria (the “Maximum Amount”). Following the end of each Performance Period, the Committee shall
certify the extent to which the performance criteria and other conditions of the Award are achieved, and the number of Shares which shall be delivered to the Participant accordingly. 

  
 25 

	 	9.2.	 If the number of Shares delivered to the Participant following the achievement of the performance criteria is
greater than the Maximum Amount, then such excess amount of Shares shall be treated as a new Award for all intents and purposes, including for the purpose of Sections 4 and 5 of this Appendix. 

 

	10.	 [RESERVED] 

  

	11.	 DIVIDEND EQUIVALENTS 

As long as 102 Awards are held or supervised by the Trustee, any Dividend Equivalent distributed to the Participant shall be deposited with the
Trustee and shall be subject to the terms and conditions of Section 102. 
  

	12.	 ASSIGNABILITY AND SALE OF AWARDS 

All rights of the Participant over the Awards or the Shares issued thereunder are personal, cannot be transferred, assigned, pledged,
mortgaged, or given as collateral and no right with respect to them may be given to any third party whatsoever, other than by will or laws of descent and distribution, unless and until actual payment of all taxes required to be paid upon such
transfer, assignment, pledge or mortgage has been made to the tax assessor, and the tax assessor confirmed that all taxes required to be paid upon such transfer, assignment, pledge or mortgage have been paid. 

 

	13.	 INTEGRATION OF SECTION 102 AND TAX ASSESSING OFFICER’S PERMIT 

 

	 	13.1.	 With regards to Approved 102 Awards, the provisions of the Plan and/or the Appendix and/or the Award Agreement
shall be subject to the provisions of Section 102, the Tax Assessing Officer’s permit, and other instructions set forth by the ITA from time to time. The said provisions, permit and instructions shall be deemed an integral part of the Plan
and of the Appendix and of the Award Agreement. 

  

	 	13.2.	 Any provision of Section 102, the said permit, and/or the said instructions which is necessary in order to
receive and/or to keep any tax benefit pursuant to Section 102, which is not expressly specified in the Plan or the Appendix or the Award Agreement, shall be considered binding upon the Company and the Participants. 

 

	14.	 DIVIDEND 

Subject to Perrigo’s incorporation documents and the provisions of the Plan and the Award Agreement, with respect to all Restricted Shares
and all Shares allocated or issued upon the exercise of Options (but excluding, for avoidance of any doubt, any Restricted Share Units, Performance Shares and unexercised Options) and held by the Participant or by the Trustee as the case may be, the
Participant shall be entitled to receive dividends in accordance with the quantity of such shares, and subject to any applicable taxation on distribution of dividends, and when applicable subject to the provisions of Section 102 and the rules,
regulations or orders promulgated thereunder. 

  
 26 

	15.	 TAX CONSEQUENCES 

 

	 	15.1.	 Any tax consequences arising from the grant of Awards, vesting of Awards or the exercise of any Option, or the
disposal of the Shares covered thereby or from any other event or act (of the Company, the Trustee and/or the Participant), hereunder, shall be borne solely by the Participant. The Company and/or the Trustee shall withhold taxes according to the
requirements under the applicable laws, rules, and regulations, including withholding taxes at source. Furthermore, the Participant shall agree to indemnify the Company and/or the Trustee and hold them harmless against and from any and all liability
for all such tax or interest or penalty thereon, including without limitation, liabilities relating to the necessity to withhold, or to have withheld, any such tax from any payment made to the Participant. 

 

	 	15.2.	 The Company and/or, when applicable, the Trustee shall not be required to release any share certificate to a
Participant until all required payments have been fully made. 

  

	 	15.3.	 With respect to Unapproved 102 Awards, if the Participant ceases to be employed by the Company, the Participant
shall extend to the Company a security or guarantee for the payment of tax due at the time of sale of Shares, all in accordance with the provisions of Section 102 and the rules, regulation or orders promulgated thereunder.

  

	16.	 GOVERNING LAW & JURISDICTION 

This Appendix shall be governed by and construed and enforced in accordance with the laws of the State of Israel applicable to contracts made
and to be performed therein, without giving effect to the principles of conflict of laws. The competent courts of Tel-Aviv, Israel shall have sole jurisdiction in any matters pertaining to this Appendix. 

  
 27 

 APPENDIX B 

2019 LONG-TERM INCENTIVE PLAN 

SUB-PLAN GOVERNING AWARDS TAXABLE IN THE REPUBLIC OF IRELAND 

 

	1	 GENERAL 

  

	1.1	 This Appendix B establishes a sub-plan (the “Irish Sub-Plan”) to the 2019 Long-Term Incentive Plan (the “Plan”) for purposes of employees and directors who are either resident in the Republic of Ireland for tax purposes or who are subject
to Irish taxation in relation to their Awards under the Plan and who are granted Restricted Shares that are intended to meet the requirements of a Clog Scheme under Irish tax law. 

 

	1.2	 All terms that are not otherwise defined herein shall have the same meaning as set forth in the Plan.

  

	2	 TERMS OF IRISH SUB-PLAN 

 

	2.1	 The following definitions shall be inserted into Section 2: 

“Restricted Share Trust” means the trust established by Perrigo; 

“Retention Period” in connection with any of a Participant’s Restricted Shares means the period beginning on the date an
award of Restricted Shares is made and ending on the 30th day after the fifth anniversary of that date, or such other period (between one year and five years plus 30 days) as the Committee may
from time to time determine with respect to an allocation of Restricted Shares provided always that such period shall be set out in the Award Agreement relating to such Restricted Shares; 

 

	2.2	 The definition of Award Agreement in Section 2 shall be deleted and replaced with the following:

 “Award Agreement” means a written agreement, contract or other instrument in such form as may from time
to time be settled by the Committee which is entered into by Perrigo and a Participant setting out specific contractual terms restricting the Participant’s ability to deal with or realise value in the Restricted Shares during the designated
Retention Period and signed by both Perrigo and the Participant; 
  

	2.3	 The definition of Restricted Share in Section 2 shall be deleted and replaced with the following:

 “Restricted Share” means an Award of Restricted Shares under this Irish
Sub-Plan, or (where the context so requires) any other Award under the Plan (including any sub-plan) whereby the Shares subject to that Award to which a Participant
becomes entitled at grant, vesting, exercise or settlement (as the case may be) are designated as Restricted Shares for a Retention Period under this Irish Sub-Plan within the meaning of
Section 128D(3)(a) of the Irish Taxes Consolidation Act 1997, such shares also being forfeitable shares in accordance with Section 8(c) as amended under this Irish Sub-Plan. 

  
 28 

	2.4	 Section 5 shall be deleted and replaced with the following: 

SECTION 5. ELIGIBILITY. Any Employee or director of the Company shall be eligible to be selected as a Participant under the Irish Sub-Plan. 
  

	2.5	 Section 8 shall be deleted and replaced with the following: 

SECTION 8. RESTRICTED SHARES. 

(a)    GRANT OF AWARDS. Restricted Share Awards may be issued hereunder to Participants, for no cash
consideration or for such minimum consideration as may be required by applicable law, either alone or in connection with the vesting, exercise or settlement (as the case may be) of other Awards granted under the Plan. The provisions of Restricted
Share Awards need not be the same with respect to each recipient. Restricted Share Awards may be subject to performance criteria in relation to any performance period as the Committee may determine when the Restricted Share Award is granted. 

(b)    REGISTRATION. Any Restricted Shares issued or awarded hereunder shall be held in the Restricted
Share Trust for the duration of the Retention Period and subject to the provisions of the trust deed and Section 128D of the Taxes Consolidation Act 1997. 

(c)    FORFEITURE. Except as set forth in Section 12 (as amended by the Irish Sub-Plan) or otherwise determined by the Committee at the time of grant, upon a Participant’s Termination Date for any reason during the Retention Period, all Restricted Shares still subject to restriction
shall be forfeited by the Participant and reacquired by Perrigo whereupon as a result of the forfeiture the Participant will cease to have any beneficial interest in the Restricted Shares so forfeited and will not be entitled to receive, directly or
indirectly, consideration in money or money’s worth in respect of the forfeited shares in excess if the consideration given by the Participant for the acquisition of the Restricted Shares. If as a result of any forfeiture of Shares under this
Section 8(c) the Participant obtains a refund of any taxes paid in respect of the award of Restricted Shares, the Participant shall be obliged to return such refund to Perrigo immediately upon receipt, unless the Committee determines otherwise
in its absolute discretion. 
 (d)    PERFORMANCE CRITERIA. The Committee shall specify in the Award
Agreement the extent to which forfeiture applies to a Restricted Share Award at the end of the applicable Retention Period as a result of performance criteria not being achieved, or partially being achieved, in relation to the applicable performance
period. 
  

	2.6	 Section 12(b) shall be deleted and replaced with the following: 

(b) OPTIONS AND STOCK APPRECIATION RIGHTS. Unless otherwise determined by the Committee with respect to an Award of Options and
Stock Appreciation Rights as provided in the applicable Award Agreement, and subject to the terms of the Plan, the following provisions shall apply to Options and Stock Appreciation Rights on a Participant’s Termination Date. 

  
 29 

 (1)    DEATH, DISABILITY, RETIREMENT. If the
Participant’s Termination Date occurs due to the Participant’s death, Disability or Retirement the Participant’s outstanding Options and Stock Appreciation Rights shall immediately vest in full and may thereafter be exercised in whole
or in part by the Participant (or the duly appointed fiduciary of the Participant’s estate or Beneficiary in the case of death, or conservator of the Participant’s estate in the case of Disability) at any time prior to the expiration of
the respective terms of the Options or Stock Appreciation Rights, as applicable. 
 (2)    INVOLUNTARY
TERMINATION FOR ECONOMIC REASONS. If the Participant’s Termination Date occurs by reason of Involuntary Termination for Economic Reasons, the Participant may exercise his or her Options and Stock Appreciation Rights, to the extent vested, at
any time prior to the earlier of (i) the date which is 30 days after the date which is 24 months after such Termination Date, or (ii) the expiration of the respective terms of the Options or Stock Appreciation Rights. Any Options or Stock
Appreciation Rights that are not vested at such Termination Date, but are scheduled to vest during the 24-month period following the Termination Date, shall continue to vest during such 24-month period according to the vesting schedule in effect prior to such Termination Date. Any Options or Stock Appreciation Rights that are not scheduled to vest during such
24-month period will be forfeited on the Termination Date. Notwithstanding the foregoing, if the Participant’s Termination Date occurs for a reason that is both described in this Section 12(b)(2) and
in Section 13(a), the special vesting rules described in Section 13(a) shall apply in lieu of the vesting rules described in this Section 12(b)(2). 

If the Participant dies after the Termination Date while his or her Options or Stock Appreciation Rights remain exercisable
under this paragraph (2), the duly appointed fiduciary of the Participant’s estate or his or her Beneficiary may exercise the Options and Stock Appreciation Rights (to the extent that such Options and Stock Appreciation Rights were vested and
exercisable prior to death), at any time prior to the later of the date which is (i) 30 days after the date which is 24 months after the Participant’s Termination Date, or (ii) 12 months after the date of death, but in no event later than the
expiration of the respective terms of the Options and Stock Appreciation Rights. 
 (3)    TERMINATION
FOR CAUSE. If the Participant’s Termination Date is for Cause, at the time such notice of termination is given by the Company the Participant’s right to exercise his or her Options and Stock Appreciation Rights shall terminate. If within
60 days of a Participant’s Termination Date the Company discovers circumstances which would have permitted it to terminate the Participant’s employment or service for Cause, such Termination Date shall be deemed to have occurred for
reasons of Cause. Any Shares, cash or other property paid or delivered to the Participant under the Plan within 60 days of such Termination Date shall be forfeited and the Participant shall be required to repay such amount to the Company. 

  
 30 

 (4)    OTHER TERMINATION OF EMPLOYMENT OR SERVICE. If
the Participant’s Termination Date occurs for reasons other than as described in this Section 12(b), the Participant shall have the right to exercise his or her Options and Stock Appreciation Rights at any time prior to the earlier of
(i) the date which is three months after such Termination Date, or (ii) the expiration date of the respective terms of the Options or Stock Appreciation Rights, as applicable, but only to the extent such Option or Stock Appreciation Right,
as applicable, was vested prior to such Termination Date. Any Options or Stock Appreciation Rights which are not vested at such Termination Date shall be forfeited on the Termination Date. 

If the Participant dies after the Termination Date while his or her Options or Stock Appreciation Rights remain exercisable
under this paragraph (4), the duly appointed fiduciary of the Participant’s estate or his or her Beneficiary may exercise the Options or Stock Appreciation Rights (to the extent that such Options or Stock Appreciation Rights were vested and
exercisable prior to death), at any time prior to the earlier of (i) 12 months after the date of death, or (ii) the expiration of the respective terms of the Options or Stock Appreciation Rights, as applicable. 

 

	2.7	 A new Section 12(e) shall be inserted as follows: 

(e)    RESTRICTED SHARES. Unless otherwise determined by the Committee with respect to an Award of
service-based vesting Restricted Shares as provided in the applicable Award Agreement, and subject to the terms of the Plan, the following provisions shall apply to service-based vesting Restricted Shares on a Participant’s Termination Date.

 (1)    DEATH. If the Participant’s Termination Date occurs due to the Participant’s death
prior to the end of the Retention Period applicable to his Restricted Shares, the Retention Period with respect to those Restricted Shares shall lapse. 

(2)    DISABILITY; RETIREMENT. If the Participant’s Termination Date occurs by reason of Disability or
Retirement the Participant may continue to hold those Restricted Shares for the remainder of the Retention Period. 

(3)    INVOLUNTARY TERMINATION FOR ECONOMIC REASONS. If the Participant’s Termination Date occurs by
reason of Involuntary Termination for Economic Reasons within 24 months of the end of the Retention Period applicable to his Restricted Shares, the Participant may continue to hold those Restricted Shares for the remainder of the Retention Period.
If the Participant’s Termination Date occurs by reason of Involuntary Termination for Economic Reasons more than 24 months before the end of the Retention Period applicable to his Restricted Shares those Restricted Shares will be forfeited on
the Termination Date. Notwithstanding the foregoing, if the Participant’s Termination Date occurs for a reason that is both described in this Section 12(e)(3) and in Section 13(a), the special vesting rules described in
Section 13(a) shall apply in lieu of the vesting rules described in this Section 12(e)(3). 

  
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 (4)    TERMINATION FOR CAUSE. If the Participant’s
Termination Date is for Cause, at the time such notice of termination is given by the Company the Participant’s Restricted Shares will be forfeited. If within 60 days of a Participant’s Termination Date the Company discovers circumstances
which would have permitted it to terminate the Participant’s employment or service for Cause, such Termination Date shall be deemed to have occurred for reasons of Cause. Any Shares, cash or other property paid or delivered to the Participant
under the Plan within 60 days of such Termination Date shall be forfeited and the Participant shall be required to repay such amount to the Company. 

(5)    OTHER TERMINATION OF EMPLOYMENT OR SERVICE. If the Participant’s Termination Date occurs for
reasons other than as described in this Section 12(d), the Participant’s Restricted Shares will be forfeited on the Termination Date unless the Committee determines that the Participant may continue to hold his Restricted Shares for the
remainder of the Retention Period applicable to those Restricted Shares. 

  
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 APPENDIX C 

2019 LONG-TERM INCENTIVE PLAN 

CONSULTANT AND NON-EMPLOYEE DIRECTOR SUB-PLAN 

 

	1	 GENERAL 

  

	1.1	 This Appendix C establishes a sub-plan (the “Consultant and NED
Sub-Plan”) to the 2019 Long-Term Incentive Plan (the “Plan”) for awards granted to non-employee directors and consultants. In order to reflect
that Awards granted under the Plan are granted under an “employees’ share scheme” as defined under Irish tax law, (a) references to directors and consultants have been removed from the Plan, and (b) this Appendix C
establishes a sub-plan for the purpose of granting Awards to Consultants and Non-Employee Directors (as defined below) of Perrigo Company plc and its Affiliates. 

  

	1.2	 All terms that are not otherwise defined herein shall have the same meaning as set forth in the Plan.

  

	2	 Terms of Consultant and NED Sub-Plan 

 

	2.1	 This Consultant and NED Sub-Plan is hereby established as a sub-plan to the Plan. The provisions of the Plan shall apply in their entirety to awards made under this Consultant and NED Sub-Plan save and except only as set out in Rules
2.2 to 2.6 below. 

  

	2.2	 Definitions 

  

	 	2.2.1	 The following definitions shall be inserted for the purposes of the Consultant and NED Sub-Plan: 

 “Consultant” means a consultant, adviser or other person
retained by the Company to render significant services to the Company. 
 “Non-Employee
Director” means a director of the Company who is not an active employee of the Company. 
  

	 	2.2.2	 The following terms as defined in the Plan shall be deleted and replaced with the following for the purposes of
the Consultant and NED Sub-Plan: 

 “Participant” means any person
who is a Consultant or Non-Employee Director. 
 “Retirement” means a
Participant’s Termination Date which occurs (i) pursuant to a voluntary early retirement program approved by the Board or the Committee, (ii) after attaining age 65, or (iii) after attaining age 60 with ten or more years of
service with the Company. For this purpose, a year of service shall be a completed 12-month period of service beginning on the first day of the Participant’s service with the Company as a Non-Employee Director or Consultant, or an anniversary of such date.  

  
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 “Termination Date” means the date that a Participant both ceases to be a Non-Employee Director or Consultant and ceases to perform any material services for the Company, including, but not limited to, advisory or consulting services or services as a member of the Board. 

 

	2.3	 Section 3(a) of the Plan is amended by the addition of the following sentence at the end of that clause:

 Decisions of the Committee in respect of the Consultant and NED Sub-Plan shall
be final, conclusive and binding upon all persons including the Company, any Participant, and shareholder and any Consultant and Non-Employee Director.  

 

	2.4	 Section 4(c) of the Plan is amended so that the first sentence reads as follows: 

No individual Consultant may be granted Awards in any one calendar year with respect to more than 400,000 Shares, and no individual Non-Employee Director may be granted Awards in any one calendar year with respect to more than 25,000 Shares. 
  

	2.5	 Section 5 of the Plan is amended by replacing it with the following: 

SECTION 5. ELIGIBILITY. Any Non-Employee Director or Consultant shall be eligible to be selected
as a Participant. Awards may be granted Non-Employee Directors or Consultants of the Company or Affiliates who are foreign nationals or who are resident or taxable on the Award outside the United States, or
both, on such terms and conditions different from those specified in the Plan as may, in the judgment of the Committee, be necessary or desirable in order to recognize differences in local law or tax policy. The Committee also may impose conditions
on the exercise or vesting of Awards in order to minimize the Company’s obligation with respect to tax equalization for Participants on assignments outside their home country. 

 

	2.6	 Section 6(d) of the Plan is amended by the addition of the following sentence at the end of that clause:

 Payment of the option price of any Option granted to a Consultant or
Non-Employee Director shall be settled only in accordance with a method that is in compliance with applicable Irish company law. 
  

	2.7	 Section 16(b) of the Plan is amended by deleting the words “Employee or” and “Employees
or” from the first sentence. 

  

	2.8	 Section 16(g) of the Plan is amended by the addition of the following sentence at the end of that clause:

 Withholding taxes applicable to any Awards to a Consultant or Non-Employee
Director shall be settled only in accordance with a method that is in compliance with applicable Irish company law. 

  
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