Document:

EX-10.10

 Exhibit 10.10 

MEDTRONIC PLC 
 ISRAELI
AMENDMENT 
 To The Amended and Restated 2013 Stock Award and Incentive Plan 

 

	1.	GENERAL 

  

	 	1.1	This Amendment (the “Amendment”) shall apply only to Participants who are residents of the State of Israel or those who are deemed to be residents of the State of Israel for the payment of tax. The
provisions specified hereunder shall form an integral part of the Amended and Restated 2013 Stock Award and Incentive Plan (the “Plan”), of the Company as defined in the Plan. This Amendment is hereby amended and restated as of
January 26, 2015. 

  

	 	1.2	This Amendment is effective with respect to Options, Stock Appreciation Rights, Shares of Restricted Stock, Other Stock-Based Awards or Other Cash-Based Awards; to be granted according to the resolution of the
Committee, as such term is defined in the Plan and shall comply with Amendment no. 147 of the Israeli Tax Ordinance. 

  

	 	1.3	This Amendment is to be read as a continuation of the Plan and only refers to Awards granted 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 of the Israeli Income Tax Ordinance (New Version), 1961 (the “Ordinance”), and any regulations, rules, orders or procedures promulgated thereunder, as may be amended or replaced from time to time.
For the avoidance of doubt, this Amendment does not add to or modify the Plan in respect of any other category of Participants. 

  

	 	1.4	The Plan and this Amendment are complementary to each other and shall be deemed one. In any case of contradiction, whether explicit or implied, between the provisions of this Amendment and the Plan, the provisions set
out in this Amendment shall prevail with respect to Awards granted to Israeli Participants. 

  

	 	1.5	Any capitalized terms not specifically defined in this Amendment shall be construed according to the interpretation given to them in the Plan. 

 

	2.	DEFINITIONS 

  

	 	2.1	“Award” means an Option, Stock Appreciation Right, Share of Restricted Stock, Other Stock-Based Award or Other Cash-Based Award granted pursuant to the Plan. 

	 	2.2	“Applicable Law” means the Israeli law in general, and in particular the Israeli Companies Law – 1999, the Israeli Income Tax Ordinance (New Version), 1961 and any regulations, rules, orders or
procedures promulgated thereunder, as may be amended or replaced from time to time. 

  

	 	2.3	“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 Grantee. 

 

	 	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. 

  

	 	2.5	“Controlling Shareholder” means a controlling shareholder (Ba’al Shlita) as such term is defined in Section 32(9) of the Ordinance. 

 

	 	2.6	“Employee” including an individual who is serving as a director or an office holder, but excluding any Controlling Shareholder. 

 

	 	2.7	“Employing corporation” means any subsidiary or affiliated company or group within the meaning of Section 102(a) of the Ordinance. 

 

	 	2.8	“ITA” means the Israeli Tax Authorities. 

  

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

 

	 	2.10	“Office Holders” [“Nose Misra”]—as such term is defined in the Companies Act, 1999, including, inter alia, any other person who is part of the upper management of the
Company and who grants managerial services to the Company. 

  

	 	2.11	“Ordinary Income Award” or “OIA”, which 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. 

  

	 	2.12	“102 Award” means an Award that the Board intends to be a “102 Award” which shall only be granted to employees of the Company who are not Ten Percent shareholders, and shall be subject to and
construed consistently with the requirements of Section 102 of the Tax Ordinance. The Company shall have no liability to a Participant or to any other party, if an Award (or any part thereof), which is intended to be a 102 Award, is not a 102
Award. Approved 102 Awards may either be classified as Capital Gain Awards (“CGA”) or Ordinary Income Awards (“OIA”). 

  

	 	2.13	“3(i) Award” means Awards that do not contain such terms as will qualify under Section 102 of the Tax Ordinance. 

  
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	 	2.14	“Ordinance” means the Israeli Income Tax Ordinance (New Version) 1961, as now in effect or as hereafter amended. 

  

	 	2.15	“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. 

 

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

  

	 	2.17	“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 OPTIONS; ELIGIBILITY 

  

	 	3.1	The persons eligible for participation in the Plan as Participants shall include any Employees, Office Holders and/or Non-Employees of the Company as such term is defined in the Plan; provided, however, that
(i) Employees may only be granted 102 Awards and Office Holders may be granted 102 Awards; and (ii) Non-Employees and/or Controlling Shareholders may only be granted 3(i) Awards (the “Participants”). 

 

	 	3.2	The Company may designate Awards granted to Israeli 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 Amendment adopted by the Committee, and shall be conditioned upon the approval of this Amendment by the ITA. 

 

	 	3.4	Approved 102 Award may either be classified as Capital Gain Award (CGA) or Ordinary Income Award (OIA). 

  

	 	3.5	The Corporation’s election of the type of Approved 102 Awards as CGA or OIA granted to Israeli Employees (the “Election”), shall be appropriately filed with the ITA before the Date of Grant of an
Approved 102 Award under such Election. Such Election shall become effective beginning the first Date of Grant of an Approved 102 Award under such Election and shall remain in effect until the end of the year following the year during which the
Company first granted Approved 102 Awards under such Election. 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 any doubt, the designation of Unapproved 102 Awards and Approved 102 Awards shall be subject to the terms and conditions set forth in Section 102 of the Ordinance and the regulations
promulgated thereunder. 

  
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	 	3.8	Anything in the Plan to the contrary notwithstanding, all grants of Awards to directors and office holders shall be authorized and implemented in accordance with the provisions of the Companies Law or any successor act
or regulation, as in effect from time to time. 

  

	 	3.9	The Company shall notify the Income Tax Commissioner about the grant and the capital gain course chosen at least 30 days before the Date of Grant. Grant of Options shall be made pursuant to, (a) Section 102;
and (b) the Trust Agreement, in addition to being made pursuant to the provisions of the Plan and this Agreement; (c) the ITA’s regulation. 

  

	 	3.10	The Company’s election of the tax track according to Section 102 of the Tax Ordinance with regards to 102 Options granted to Employees, as specified in the Notice of Grant (the “Election”)
shall be appropriately filed with the Israeli Tax Authorities at least 30 days before the Date of Grant. The Election shall obligate the Company to grant only under that same tax track elected for 102 Options, and shall apply to all Grantees who are
granted qualified 102 Options until the end of the year following the year during which the Company first granted the 102 Options, all in accordance with the instructions of Section 102 (g) of the Tax Ordinance. The tax track of 102
Options elected by the Company shall be noted in the Option Agreement. 

  

	 	3.11	Notwithstanding anything to the contrary, the Trustee shall not release any unexercised 102 award or any Share issued upon exercise of 102 Options prior to the full payment of the Grantee’s tax liabilities arising
from 102 Options issued to the Grantee and/or any Shares issued upon exercise of such 102 Options. 

  

	4.	TRUSTEE 

  

	 	4.1	Approved 102 Awards which shall be granted under the Plan 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 registered in the Trustee’s name in the register of members of the Corporation) and held for the benefit of the Participants for such period of time
as required by Section 102 (the “Restricted Period”). All certificates representing Shares issued to the Trustee under the Plan shall be deposited with the Trustee, and shall be held by the Trustee until such time that such Shares
are released from the aforesaid trust as herein provided. In case the requirements for Approved 102 Awards are not met, then the Approved 102 Awards may be treated 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 exercise of Approved 102 Awards prior to the full payment of the Participants’ tax liabilities arising
from Approved 102 Awards, which were granted to such Participant, and/or any Shares allocated or issued upon exercise of such Awards. 

  
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	 	4.3	With respect to any Approved 102 Award, subject to the provisions of Section 102, a Participant shall not be entitled to sell or release from trust any Share received upon the 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 Restricted Period required under Section 102. 

 

	 	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 the Plan and
this Amendment, or any Approved 102 Award or Share granted to him thereunder. 

  

	5.	FAIR MARKET VALUE FOR TAX PURPOSES 

 Without derogating from the above, solely for the
purpose of determining the tax liability pursuant to Section 102(b)(3) of the Ordinance, if at the Date of Grant the Company’s shares are listed on any established stock exchange or a national market system or if the Company’s shares
will be registered for trading within ninety (90) days following the Date of Grant, the Fair Market Value of a Share at the Date of Grant shall be determined in accordance with the average value of the Company’s shares on the thirty
(30) trading days preceding the Date of Grant or on the thirty (30) trading days following the date of registration for trading, as the case may be. 
  

	6.	EXERCISE OF OPTIONS 

 Options shall be exercised by the Participant’s giving a
written notice and remitting payment of the Exercise Price to the Company or to any third party designated by the Company (the “Representative”), in such form and method as may be determined by the Company and the Trustee and
when applicable, in accordance with the requirements of Section 102, which exercise shall be effective upon receipt of such notice by the Company or the Representative and the payment of the Exercise Price at the Corporation’s or the
Representative’s principal office. The notice shall specify the nominal value of the Share with respect to which the Option is being exercised. 

With respect to Unapproved 102 Awards, if the Participant ceases to be employed by the Company or any Affiliate, the Participant shall extend
to the Company and/or its Affiliate 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. 

 

	7.	INTEGRATION OF SECTION 102 AND TAX COMMISSIONER’S PERMIT 

  

	 	7.1	With regards to Approved 102 Awards, the provisions of the Plan and/or any Award Agreement entered into in conjunction with any Award Grant (the “Award Agreement”) shall be subject to the provisions of
Section 102 and the Income Tax Commissioner’s permit, and the said provisions and permit shall be deemed an integral part of the Plan and of the Award Agreement. 

 

	 	7.2	Any provision of Section 102 and/or the said permit 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 Award
Agreement, shall be considered binding upon the Company and the Participants. 

  
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	8.	TAX CONSEQUENCES 

  

	 	8.1	To the extent permitted by Applicable laws, any tax consequences arising from the grant or exercise of any Award, from the payment for Shares covered thereby or from any other event or act (of the Company, and/or its
Affiliates, and/or the Trustee or the Participant), hereunder, shall be borne solely by the Participant. The Company and/or its Affiliates 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 Participants agrees to indemnify the Company and/or its Affiliates and/or the Trustee and hold them harmless against and from any and all liability for any 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. 

 

	 	8.2	The Company and/or the Trustee shall not be required to update the register of members of the Company nor release any Share certificate to a Participant until all required payments have been fully made by the
Participant. 

  

	 	8.3	In accordance with the Income Tax Rules (Tax Benefits Upon Issues of Shares to Employees) 2003, the Grantee warrants and represents to the Company, the Trustee and the Israeli Income Tax Authorities that it agrees to
the provisions of Section 102 of the Income Tax Ordinance shall apply to it and that it will not transfer the Option Shares nor any other shares received subsequently following any realization of rights, by a way of tax-exempt transfer or a
transfer under sections 104 (a), 104 (b) or 97 (a) of the Income Tax Ordinance. 

  

	 	8.4	The Company and the Trustee shall be entitled to apply to the Israeli Income Tax Authorities for the purpose of ascertaining the income tax liability of the Grantee with respect to the Option Shares. 

 

	 	8.5	The Grantee acknowledges that, under the current law, if the date of termination of employment shall be prior to the second anniversary of the date of the issue of the Shares then (i) the tax benefits of
Section 102 shall not apply (except in the opinion of the Israeli Income Tax Authorities the employment of the Grantee was ceased under special circumstances which were beyond its control) and (ii) the Grantee will be responsible to
immediately settle on its own account all of the tax issues and liabilities that are related to the Options or the Option Shares. 

  

	 	8.6	 The Grantee further acknowledges that the income that may be earned in connection with the issue of the Option Shares, their transfer in the name of
the Grantee or sale thereof shall not be taken into account in calculation of the entitlement of the Grantee to any social benefits. Such social benefits shall include, without limitation, national insurance, managers’ insurance, study funds,

  
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pension funds, and severance pay and vacation payments. In the event that the Company or any of its subsidiaries shall be obligated by applicable law to include social benefits as income or
profits of the Grantee then the Grantee shall indemnify and hold harmless the Company and the Trustee for any cost that they may incur in this regards. 
  

	9.	RESTRICTED PERIOD PER SECTION 102 

 The following provisions shall apply for the purpose
of the tax benefits under Section 102 of the ordinance 
  

	 	9.1	Restricted Period Per Section 102. In accordance with the requirements of Section 102 as now in place and as may be amended in the future, the Option to be issued shall be issued to the Grantee and held in
trust by the Trustee for the benefit of Grantee for a period of no less than twenty four (24) months from the date of which the Options were granted and placed with the Trustee (during the Restricted Period Per Section 102 the Grantee will
not be allowed to order the Trustee to sell the Option held by him/her on behalf of the Grantee or transfer the Option from Trustee’s hands). 

  

	 	9.2	In order to apply the tax benefits of Section 102, the Options and or Shares may not be sold or transferred (other than through a transfer by will or by operation of law), and no power of attorney or transfer deed
shall be given in respect thereof (other than a power of attorney for the purpose of participation in general meetings of shareholders). 

  

	 	9.3	End of Restricted Period per Section 102. Upon the completion of the Restricted Period Per Section 102 as now in place and as may be amended in the future, Grantee shall be entitled to receive from the Trustee
the Options, or the Shares acquired in the exercise thereof, which have vested, subject to the provisions of the Plan concerning the continued employment of Grantee at the Company or any Parent or Subsidiary of the Company, and subject to any other
provisions set forth herein or in the Plan, and Grantee shall be entitled to exercise the Option and sell the Options or Shares thereby obtained subject to the other terms and conditions of this Option Agreement and the Plan, including the
provisions relating to the payment of tax set forth below. 

  

	10.	GRANTEE’S REPRESENTATIONS 

  

	 	10.1	The Grantee hereby agrees that the terms of Section 102 of the Tax Ordinance (“Section 102”) shall apply regarding to the Options and or Shares granted. 

 

	 	10.2	The Grantee is obliged not to sell or remove from the Trustee the Options/Shares granted to him prior to the end of restricted period as defined by Section 102. 

 

	 	10.3	The Grantee is aware of the directives set forth in Section 102, and of the tax track that was chosen under Section 102 and its implications. 

  
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	 	10.4	The Grantee hereby accepts the terms of the Trust Agreement signed between the Company and the Trustee. 

  

	 	10.5	Grantee acknowledges that during the period in which Shares issued to the Trustee on behalf of an Grantee upon exercise of an Approved 102 Option, are held by the Trustee, if dividends payable in securities are declared
on Approved 102 Options held by the Trustee, such securities shall also be subject to the provisions of Section 102 and the provision of this agreement and shall be held in trust by the Trustee. Notwithstanding anything to the contrary, in case
that a Grantee of Approved 102 Options/Shares is entitled to receive dividend in cash, the proceeds of such dividend may be wired to the Grantee, after deduction of all applicable taxes. 

 

	11.	GOVERNING LAW AND JURISDICTION 

 The Amendment 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. Notwithstanding anything stated herein to the contrary, if and to the
extent any issue or matter arises hereunder which involves the application of another jurisdiction or the requirements relating to the administration of share Award of any stock exchange or quotation system, then such laws and requirements shall
apply and shall govern such issues or matters, with accordance with any Applicable Laws. The competent courts of Tel-Aviv, Israel shall have sole jurisdiction to adjudicate any dispute that may arise in connection with the application,
interpretation or enforcement of Section 102 including (without limitation) matters involving the Trustee and the Israeli tax consequences of the Restricted of the Awards or the Shares in trust and the release and transfer of such Awards or
Shares by the Trustee. 

  
 8EX-10.11

 Exhibit 10.11 

MEDTRONIC PLC 

MEDTRONIC INCENTIVE PLAN 

(As amended and restated effective January 26, 2015) 

SECTION 1. 
 BACKGROUND,
PURPOSE AND DURATION 
 1.1 Effective Date. Medtronic, Inc., a Minnesota corporation (“Medtronic”) and a subsidiary of
the Company, previously established the Medtronic Incentive Plan effective as of April 26, 2003 (the “Effective Date”), as amended and restated as of January 1, 2008. On June 15, 2014, Medtronic entered into a Transaction
Agreement with Covidien plc and the other parties named therein to acquire Covidien through the formation of a new holding company incorporated in Ireland that will be renamed Medtronic plc (the “Transaction”). In connection with the
Transaction, Medtronic plc, an Irish public limited company (the “Company”) hereby adopts and amends and restates the Plan, effective January 26, 2015 (the “Restatement Date”). 

1.2 Purpose of the Plan. The Plan is designed to motivate employees to achieve the Company’s primary annual objectives as
reflected in the Company’s annual operating plan by providing the opportunity for incentive compensation in addition to annual salaries. 

The Plan is intended to amend, incorporate and restate prior incentive compensation plans established by Medtronic, Inc., including the
Management Incentive Plan and the Employee Incentive Plan. The terms of the Plan, as set forth herein, shall apply to awards granted under the Plan on and after the Restatement Date. Awards granted under the Company’s incentive compensation
plans in effect prior to the Effective Date shall be governed by the terms of such plans. 
 SECTION 2. 

DEFINITIONS 
 The
following words and phrases shall have the following meanings unless a different meaning is plainly required by the context: 
 2.1
“Actual Award” means as to any Performance Period, the actual award of incentive compensation (if any) payable to a Participant for the Performance Period. Each Actual Award is determined by the Payout Formula for the Performance
Period, subject to the Committee’s authority under Section 4.6 to increase, reduce or eliminate the award determined by the Payout Formula. 

2.2 “Affiliate” means any corporation that is a “parent corporation” or “subsidiary corporation”
of the Company or any successor provision, and any joint venture in which the Company or any such “parent corporation” or “subsidiary corporation” owns a controlling equity interest. “Parent corporation” shall have the
meaning set forth in Sections 424(e) of the Code. “Subsidiary corporation” shall have the meaning set forth in section 155 of the Companies Act  

 
1963 of the Republic of Ireland; provided that, to the extent required to avoid the imposition of additional taxes under Section 409A of the Code, an entity shall not be treated as a
subsidiary corporation unless it is also an entity in which the Company has a “controlling interest” (as defined in Treas. Reg. Section 1.409A-1(b)(5)(ii)(E)(1)), either directly or through a chain of corporations or other entities in
which each corporation or other entity has a “controlling interest” in another corporation or entity in the chain, as determined by the Committee. 

2.3 “Board” means the Board of Directors of the Company. 

2.4 “Code” means the Internal Revenue Code of 1986, as amended. 

2.5 “Committee” means the Compensation Committee of the Board or its delegate as set forth in Section 3.4 hereof. 

2.6 “Company” has the meaning set forth in the preamble. 

2.7 “Disability” means the disability of a Participant such that the Participant is considered disabled under any retirement
plan of the Company which is qualified under Section 401 of the Code, or, in the case of a Participant employed by a non-U.S. Affiliate or in a non-U.S. location, under any retirement plan or long-term disability plan of the Company or such
Affiliate applicable to such Participant, or as otherwise determined by the Committee. 
 2.8 “Employee” means any employee
of the Company or of an Affiliate, whether such employee is so employed at the time the Plan is adopted or becomes so employed subsequent to the adoption of the Plan. 

2.9 “Fiscal Year” means the fiscal year of the Company. 

2.10 “Participant” means as to any Performance Period, an Employee who has been selected by the Committee for participation
in the Plan for that Performance Period. 
 2.11 “Payout Formula” means as to any Performance Period, the formula or payout
matrix established by the Committee pursuant to Section 4.4 in order to determine the Actual Awards (if any) to be paid to Participants. The formula or matrix may differ from Participant to Participant. 

2.12 “Performance Period” means generally, the Fiscal Year. However, the Committee may, at its discretion, designate a
shorter period. 
 2.13 “Plan” means the Medtronic plc Medtronic Incentive Plan, as set forth herein and as hereafter
amended from time to time. 
 2.14 “Retirement” means retirement of an Employee as defined under any retirement plan of the
Company or an Affiliate of the Company which is qualified under Section 401 of the Code (which currently provides for retirement on or after age 55, provided the Employee has been employed by the Company and/or one or more Affiliates for at
least ten years, or retirement on or after age 62), or under any retirement plan of the Company or any Affiliate applicable to the Employee due to employment by a non-U.S. Affiliate or employment in a non-U.S. location, or as otherwise determined by
the Committee. 

  
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 2.15 “Salary” of a Participant for a Performance Period, means the
Participant’s eligible earnings during such period, determined in accordance with the normal payroll practices of the Company (or an Affiliate, as the case may be): 

a. including: 

i. base salary; 

ii. any other individual performance-based forms of compensation such as lump sum merit, development or promotional payments;

 iii. the amount of any reduction in Salary to which a Participant has agreed as part of any plan of the Company or its
Affiliates to use the amount of such reduction to purchase benefits under a cafeteria plan under Code Section 125, a transportation fringe benefit plan under Code Section 132(f), or in connection with any qualified cash or deferred
arrangement under Code Section 401(k); 
 iv. any Participant payments by salary reduction or its equivalent to a
nonqualified deferred compensation plan sponsored by the Company or its Affiliates; and 
 v. if applicable, overtime, sick
pay, and shift differentials; but 
 b. excluding: (i) any discretionary bonuses (such as hiring bonuses);
(ii) workers compensation payments; (iii) short-term disability benefit payments from a third party; (iv) long-term disability benefit payments; (v) other payments made by a third party; (vi) service awards;
(vii) tuition reimbursements; (viii) relocation allowances; (ix) severance payments; (x) any one-time payment, or other payment not directly related to base salary (such as referral bonuses, incentive payments for a current
Performance Period or prior Performance Period and other similar payments); (xi) payments of deferred compensation, whether qualified or nonqualified; (xii) payments made to the Participant under the Company’s salary continuance plan
for absence due to illness, injury, or approved medical leave of absence; and (xiii) expatriate allowances. 
 2.16 “Target
Award” means the target award payable under the Plan to a Participant for the Performance Period, expressed as a percentage of his or her Salary or a specific dollar amount, as determined by the Committee in accordance with Section 4.2
hereof. 
 2.17 “Termination of Employment” means a cessation of the employee-employer relationship between an Employee and
the Company or an Affiliate for any reason, including, but not limited to, a termination by resignation, discharge, death, Disability, Retirement, or the cessation of Affiliate status, whether through sale, decrease in equity ownership or otherwise,
but excluding any such termination where there is a simultaneous reemployment by the Company or an Affiliate. 

  
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 SECTION 3. 

ADMINISTRATION 
 3.1
Committee is the Administrator. The Plan shall be administered by the Compensation Committee of the Board (the “Committee”). The Committee shall consist of not less than two (2) members of the Board. The members of the
Committee shall be appointed from time to time by the Board. 
 3.2 Committee Authority. It shall be the duty of the Committee to
administer the Plan in accordance with the Plan’s provisions. The Committee shall have all powers and discretion necessary or appropriate to administer the Plan and to control its operation, including, but not limited to, the power to
(a) determine which Employees shall be Participants, (b) prescribe the terms and conditions of awards, (c) interpret the Plan and the awards, (d) adopt such procedures and subplans as are necessary or appropriate to permit
participation in the Plan by Employees who are foreign nationals or employed outside of the United States, (e) adopt rules for the administration, interpretation and application of the Plan as are consistent therewith, and (f) interpret,
amend or revoke any such rules. 
 3.3 Decisions Binding. All determinations and decisions made by the Committee, the Board, and any
delegate of the Committee pursuant to the provisions of the Plan shall be final, conclusive, and binding on all persons, and shall be given the maximum deference permitted by law. 

3.4 Chief Executive Officer Oversight and Delegation. The Committee may delegate all or any part of its authority to other Board
members or employees of the Company and its Affiliates. Unless the Committee determines otherwise, the Committee shall be treated as having delegated its authority to the Company’s Chief Executive Officer (“CEO”) to the fullest extent
permitted hereunder. The CEO may make such determinations and take such actions within the scope of such delegation as the CEO deems necessary. In his or her sole discretion, the CEO may delegate all or part of the CEO’s authority and powers
under the Plan to one or more directors, officers, or other employees of the Company on such terms and conditions as he or she may provide. 

3.5 Indemnification. To the full extent permitted by law, each member and former member of the Committee and each person to whom the
Committee or the CEO delegates or has delegated authority under this Plan shall be entitled to indemnification by the Company against and from any loss, liability, judgment, damages, cost and reasonable expense incurred by such member, former member
or other person by reason of any action taken, failure to act or determination made in good faith under or with respect to this Plan. 

  
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 SECTION 4. 

SELECTION OF PARTICIPANTS AND DETERMINATION OF AWARDS 

4.1 Selection of Participants. The Committee, in its sole discretion, shall select the Employees who shall be Participants for any
Performance Period based upon the recommendation of appropriate management. In addition, the Committee, in its sole discretion, shall determine whether Employees who are hired after the commencement of a Performance Period shall participate in the
Plan for that Performance Period. Participation in the Plan is in the sole discretion of the Committee, and on a Performance Period by Performance Period basis. Accordingly, an Employee who is a Participant for a given Performance Period in no way
is guaranteed or assured of being selected for participation in any subsequent Performance Period. 
 4.2 Determination of Target
Awards. The Committee, in its sole discretion, shall establish a Target Award for each Participant, which shall be set forth in writing. The amount of each Participant’s Target Award shall be determined by the Committee in its sole
discretion, based upon the Participant’s level of responsibility within the Company or such other objective criteria as the Committee may determine is appropriate. 

4.3 Determination of Performance Objectives. The Committee, in its sole discretion, shall establish the Performance Objectives for the
Performance Period. Such Performance Objectives shall be set forth in writing. “Performance Objectives” means the Corporate Financial Performance, Sector Financial Performance, and/or Unit/Individual Performance Category goal(s) (or
combined goal(s)) determined by the Committee (in its sole discretion) to be applicable to the Participants for a Target Award for a Performance Period. As determined by the Committee, the Performance Objectives for any Target Award applicable to
the Participants may provide for a targeted level or levels of achievement in the Performance Categories using one or more financial or other measures. The Performance Objectives may differ from award to award. 

Minimum threshold(s) may be set by the Committee for any or all of the Performance Categories (as defined in Section 4.4) for a
Participant, below which no Actual Awards may be payable to the Participant for that Category. 
 A Participant may be assigned multiple
Performance Objectives in the same Performance Category. In such cases the Performance Objectives shall be given a percentage weight that is dependent on the assessment of the importance of the Performance Objective and the sum of the percentage
weights in a Performance Category shall equal 100%. 
 4.4 Determination of Payout Formula or Formulas. The Committee, in its sole
discretion, shall establish a Payout Formula or Formulas for purposes of determining the Actual Award (if any) payable to each Participant. Each Payout Formula shall (a) be in writing, (b) be based on a combination of Performance
Categories (as defined below) designated for the Participant, (c) be based on a comparison of actual performance to the Performance Objectives, (d) provide for the payment of a Participant’s Target Award if the Performance Objectives
for the Performance Period are achieved, and (e) provide for an Actual Award greater than or less than the Participant’s Target Award, depending upon the extent to which actual performance exceeds or falls below the Performance Objectives.

 Each Participant’s entitlement to an Actual Award will be based on one or more of the percentage-weighted combination(s) of the
performance of the Company as a whole (“Corporate Financial Performance”), the Participant’s sector (“Sector Financial Performance”), and/or the Participant’s Unit (e.g., business unit, division, work group, department,
country, geography, etc.) and/or individual performance (“Unit/Individual Performance”) (each defined as a 

  
 5 

 
“Performance Category”). The Committee shall designate for each Participant in the Plan a combination of Performance Categories based upon the level of impact and responsibility the
Participant’s job has on corporate, sector and/or business unit specific financial results and/or individual performance. The Participant’s Payout Formula shall include one or a combination of the foregoing Performance Categories. For
instance, the Payout Formula for Participant A may contain only the Corporate Financial Performance Category, in which case the Participant’s Payout Formula would be based solely on attainment of Performance Objectives in the Corporate
Financial Performance Category. Likewise, the Payout Formula for Participant B may contain both the Corporate Financial Performance Category and Sector Financial Performance Category, and the Participant’s Payout Formula would be based on
attainment of Performance Objectives in both the Corporate Financial Performance Category and the Sector Financial Performance Category. 

4.5 Date for Determinations. The Committee shall make all determinations under Section 4.1 through 4.4 on or before the 90th day
of each Performance Period, but in no event after 25% of the applicable Performance Period has elapsed. 
 4.6 Determination of Actual
Awards. After the end of each Performance Period, the Committee shall certify in writing the extent to which the Performance Objectives applicable to each Participant for the Performance Period were achieved or exceeded. The Actual Award for
each Participant shall be determined by applying the Payout Formula to the level of actual performance that has been certified by the Committee. Notwithstanding any contrary provision of the Plan, the Committee, in its sole discretion, may
(a) eliminate or reduce the Actual Award payable to any Participant below that which otherwise would be payable under the Payout Formula, (b) increase the Actual Award payable to any Participant above that which otherwise would be payable
under the Payout Formula, and (c) as further set forth in Section 5.4 below, determine whether or not a Participant will receive an Actual Award in the event the Participant incurs a Termination of Employment prior to the date the Actual
Award is to be paid pursuant to Section 5.2 below. 
 SECTION 5. 

PAYMENT OF AWARDS 
 5.1
Right to Receive Payment. The Company and its Affiliates shall not be required to establish any special or separate fund or to make any other segregation of assets to assure the payment of any amounts under the Plan, and rights to the payment
hereunder shall be no greater than the rights of the Company’s unsecured creditors. All expenses involved in administering the Plan shall be borne by the Company and its Affiliates. 

5.2 Timing of Payment. A Participant’s Actual Award for a Performance Period shall be paid to him or her within two and one-half
months following the close of the Fiscal Year. A Participant may, however, elect to defer or exchange some or all of his or her Actual Award under other Company plans in effect at that time. 

5.3 Form of Payment. Except as set forth in Section 5.2, payment of an Actual Award shall be in cash in the form of a lump sum.

  
 6 

 5.4 Termination of Employment During Performance Period. 

a. If the Participant’s employment is terminated during a Performance Period due to the Participant’s death,
Disability, or Retirement, the Participant (or the Participant’s beneficiary in the case of the Participant’s death) will be entitled to receive a pro rata portion of the Actual Award for which the Participant otherwise would have been
eligible, determined at the end of the applicable Performance Period based upon the portion of the Performance Period the Participant was employed by the Company or Affiliate. 

b. Following a Termination of Employment during a Performance Period, or after completion of a Performance Period but prior to
the time an Actual Award is paid, for any reason other than death, Disability or Retirement, a Participant’s eligibility to receive an Actual Award for such Performance Period shall be determined solely at the discretion of the Committee. No
such Actual Award may exceed a pro rata portion of the Actual Award for which the Participant otherwise would have been eligible, determined at the end of the applicable Performance Period based upon the portion of the Performance Period the
Participant was employed by the Company or Affiliate. 
 c. Notwithstanding anything in this Section 5.4 to the
contrary, a Participant shall not be entitled to any Actual Award for a Performance Period if the Participant’s employment is terminated by the Company or Affiliate during the Performance Period or during the period between the end of the
Performance Period and the date on which the Actual Award is otherwise payable to the Participant for the following reasons: (a) failure to comply with any material policies and procedures of the Company or Affiliate; (b) conduct
reflecting dishonesty or disloyalty to the Company or Affiliate, or which may have a negative impact on the reputation of the Company or Affiliate; (c) allegation of commission of a felony, theft or fraud, or violations of law involving moral
turpitude; or (d) failure to perform the material duties of his or her employment. If a Participant’s employment is terminated for any of the foregoing reasons, the time at which the Participant ceases to be an employee for purposes of
this Section 5.4 shall mean the time at which such Participant is instructed or notified to cease performing his or her job responsibilities for the Company or any Affiliate, whether or not for other reasons, such as payroll, benefits or
compliance with legal procedures or requirements, he or she may still have other attributes of an employee. 
 5.5 Beneficiary. The
Committee or its delegate shall create a procedure whereby a Participant may file, on a form to be provided by the Company, a written election designating one or more beneficiaries with respect to the amount, if any, payable in the event of the
Participant’s death. The Participant may amend such beneficiary designation in writing at any time prior to the Participant’s death without the consent of any previously designated beneficiary. Such designation or amended designation, as
the case may be, shall not be effective unless and until received by the authorized representatives of the Company prior to the Participant’s death. In the absence of any such designation, the amount payable, if any, shall be delivered to the
legal representative of such Participant’s estate. 

  
 7 

 SECTION 6. 

CHANGE IN CONTROL 
 6.1
Calculation of Awards. Notwithstanding any other provisions of the Plan (including, without limitation, minimum thresholds provided under Section 4.3 and the provisions of Section 5.4, none of which shall apply), if a Change in
Control (as defined below) occurs during a Performance Period, each Participant shall be entitled to an Actual Award under the Plan for the full Performance Period (typically 12 months), calculated in accordance with Section 4.6, but with
payment accelerated to the time of the Change in Control. A Participant’s Actual Award for such Performance Period shall be the greater of (a) the Target Award for which the Participant would have been eligible had the Participant’s
Salary, determined as of the day immediately prior to the Change in Control, remained the same throughout the Performance Period; or (b) if the Change in Control occurs after the first quarter of a Fiscal Year, the Actual Award that the
Participant would have received if (i) no Change in Control had occurred during such Fiscal Year, (ii) the Participant’s Salary, determined as of the day immediately prior to the Change in Control, remained the same throughout the
Performance Period, and (iii) the achievement of the Participant’s Performance Objectives for the Performance Period had equaled the performance most recently projected by the Company for such Performance Period prior to the Change in
Control, adjusted to exclude: (A) all non-recurring or special charges incurred by the Company during the Performance Period; (B) all legal, accounting, investment banking and other costs and expenses incurred or projected by the Company
in connection with, or in opposition to, the events resulting in the Change in Control; and (C) the projected effect of the Change in Control upon the achievement of Participant’s Performance Objectives. 

6.2 Definition. For purposes of this Section 6, a “Change in Control” means: 

a. Any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of
1934, as amended (the “Exchange Act”)) (a “Person”) becomes the beneficial owner (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 30% or more of either (i) the then-outstanding ordinary shares of the
Company, par value $0.0001, as such par value may be adjusted from time to time (the “Outstanding Company Ordinary Shares”) or (ii) the combined voting power of the then-outstanding voting securities of the Company entitled to vote
generally in the election of directors (the “Outstanding Company Voting Securities”); provided, however, that, for purposes of this clause (a), the following acquisitions shall not constitute a Change in Control: (1) any
acquisition directly from the Company, (2) any acquisition by the Company or any of its subsidiaries, (3) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any of its subsidiaries,
(4) any acquisition by an underwriter temporarily holding securities pursuant to an offering of such securities or (5) any acquisition pursuant to a transaction that complies with clauses (i), (ii) and (iii) of clause
(c) below; or 
 b. Individuals who, as of the date hereof, constitute the Board (the “Incumbent Directors”)
cease for any reason to constitute at least a majority of the Board; provided, however, that any individual becoming a director subsequent to the date hereof whose election, or nomination for election by the Company’s
shareholders, was approved by a 

  
 8 

 
vote of at least a majority of the Incumbent Directors then on the Board shall be considered as though such individual was an Incumbent Director, but excluding, for this purpose, any such
individual whose initial assumption of office occurs as a result of either an actual or threatened election contest or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board; or 

c. Consummation of a reorganization, merger, statutory share exchange or consolidation (or similar corporate transaction)
involving the Company or any of its subsidiaries, a sale or other disposition of all or substantially all of the assets of the Company, or the acquisition of assets or stock of another entity by the Company or any of its subsidiaries (each, a
“Business Combination”), in each case, unless, immediately following such Business Combination, (i) substantially all of the individuals and entities who were the beneficial owners, respectively, of the Outstanding Company Ordinary
Shares and the Outstanding Company Voting Securities immediately prior to such Business Combination beneficially own, directly or indirectly, more than 50% of, respectively, the then-outstanding ordinary shares (or, for a non-corporate entity,
equivalent securities) and the then-outstanding voting securities entitled to vote generally in the election of directors (or, for a non-corporate entity, equivalent governing body), as the case may be, of (A) the entity resulting from such
Business Combination (the “Surviving Corporation”) or (B) if applicable, the ultimate parent entity that directly or indirectly has beneficial ownership of 80% or more of the voting securities eligible to elect directors of the
Surviving Corporation (the “Parent Corporation”), in substantially the same proportion as their ownership, immediately prior to the Business Combination, of the Outstanding Company Ordinary Shares and the Outstanding Company Voting
Securities, as the case may be, (ii) no person (other than any employee benefit plan (or related trust) sponsored or maintained by the Surviving Corporation or the Parent Corporation), is or becomes the beneficial owner, directly or indirectly,
of 30% or more of the outstanding ordinary shares and the total voting power of the outstanding voting securities eligible to elect directors of the Parent Corporation (or, if there is no Parent Corporation, the Surviving Corporation) and
(iii) at least a majority of the members of the board of directors of the Parent Corporation (or, if there is no Parent Corporation, the Surviving Corporation) following the consummation of the Business Combination were Incumbent Directors at
the time of the Board’s approval of the execution of the initial agreement providing for such Business Combination; or 

d. Approval by the shareholders of the Company of a complete liquidation or dissolution of the Company. 

For the avoidance of doubt, any one or more of the above events may be effected pursuant to (A) compromise or arrangement sanctioned by
the court under section 201 of the Companies Act 1963 of the Republic of Ireland or (B) section 204 of the Companies Act 1963 of the Republic of Ireland. 

6.3 Payment of Awards. Actual Awards shall be paid under this Section 6 within two and one-half months following the date of the
first Change in Control to occur during the Performance Period. Notwithstanding the preceding sentence, a Participant may, however, elect to defer or exchange some or all of his or her Actual Awards under other Company plans in effect at that time.

  
 9 

 SECTION 7. 

GENERAL PROVISIONS 
 7.1
Tax Withholding. The Company or an Affiliate shall have the right to deduct from any payment made under the Plan any federal, state, local or non-U.S. income, payroll or other taxes required by law to be withheld with respect to such payment.

 7.2 No Effect on Employment. Neither the Plan nor any action taken hereunder shall be construed as giving any employee or other
person any right to continue to be employed by or perform services for the Company or any Affiliate of the Company, and the right to terminate the employment of or performance of services by any Participant at any time and for any reason is
specifically reserved to the Company and its Affiliates. 
 7.3 Participation. No Employee shall have the right to be selected to
receive an award under this Plan, or, having been so selected, to be selected to receive a future award. 
 7.4 Release. Any payment
of an Actual Award to or for the benefit of a Participant or beneficiary that is made in good faith by the Company and its Affiliates in accordance with the Company’s interpretation of its obligations hereunder, shall be in full satisfaction of
all claims against the Company and its Affiliates for payments under the Plan. 
 7.5 Notices. Any notice provided by the Company
under the Plan may be posted to a Company-designated website. 
 7.6 Benefits Not Transferable. Except as may be approved by the
Committee, a Participant’s rights and interest under the Plan may not be assigned or transferred, hypothecated or encumbered, in whole or in part, either directly or by operation of law or otherwise (except in the event of a Participant’s
death) including, but not by way of limitation, execution, levy, garnishment, attachment, pledge, bankruptcy or in any other manner; provided, however, that, subject to applicable law, any amounts payable to any Participant hereunder
are subject to reduction to satisfy any liabilities owed to the Company or any of its Affiliates by the Participant. 
 7.7
Successors. All obligations of the Company and any Affiliate under the Plan, with respect to awards granted hereunder, shall be binding on any successor to the Company and/or such Affiliate, whether the existence of such successor is the
result of a direct or indirect purchase, merger or consolidation of all or substantially all of the business or assets of the Company or such Affiliate, or otherwise. 

7.8 Actions and Decision Regarding the Business or Operations of the Company. Notwithstanding anything in the Plan to the contrary,
none of the Company, its Affiliates, nor any of their respective officers, directors, employees or agents shall have any liability to any Participant (or his or her beneficiaries or heirs) under the Plan or otherwise on account of any action taken,
or not taken, in good faith by any of the foregoing persons with respect to the business or operations of the Company or any Affiliates. 

  
 10 

 SECTION 8. 

AMENDMENT, TERMINATION AND DURATION 

8.1 Plan Amendment or Suspension. The Plan may be amended or suspended in whole or in part at any time and from time to time by the
Committee. 
 8.2 Plan Termination. This Plan shall terminate upon the adoption of a resolution of the Committee terminating the
Plan. 
 8.3 Duration of the Plan. The Plan shall commence on the date specified herein, and subject to Sections 8.1 and 8.2
(regarding the Board’s right to amend or terminate the Plan, respectively), shall remain in effect thereafter. 
 SECTION 9. 

LEGAL CONSTRUCTION 
 9.1
Gender and Number. Except where otherwise indicated by the context, any masculine term used herein also shall include the feminine; the plural shall include the singular and the singular shall include the plural. 

9.2 Severability. In the event any provision of the Plan shall be held illegal or invalid for any reason, the illegality or invalidity
shall not affect the remaining parts of the Plan, and the Plan shall be construed and enforced as if the illegal or invalid provision had not been included. 

9.3 Requirements of Law. The granting and payment of awards under the Plan shall be subject to all applicable laws, rules and
regulations, and to such approvals by any governmental agencies or national securities exchanges as may be required. 
 9.4 Governing
Law. The validity, construction, interpretation, administration and effect of the Plan, and rights relating to the Plan and to awards granted under the Plan, shall be governed by the substantive laws, but not the choice of law rules, of the
State of Minnesota. 

  
 11

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