SEC Contract Filing

Filing Date: 2023-06-08

Document Content:
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<TYPE>EX-10.3
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<DESCRIPTION>EX-10.3
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.3 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>PERRIGO COMPANY PLC </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>RESTRICTED STOCK UNIT AWARD AGREEMENT </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(SERVICE-BASED) </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(Under the
Perrigo Company plc 2019 Long-Term Incentive Plan) </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">TO:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Participant Name </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">RE:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><U>Notice of Restricted Stock Unit Award (Service-Based)</U> </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This is to notify you that Perrigo Company plc (the &#147;Company&#148;) has granted you an Award under the Perrigo Company plc 2019 Long-Term
Incentive Plan (the &#147;Plan&#148;), effective as of Grant Date (the &#147;Grant Date&#148;). This Award consists of service-based restricted stock units. The terms and conditions of this incentive are set forth in the remainder of this agreement
(including any special terms and conditions set forth in any appendix for your country (&#147;Appendix&#148;) (collectively, the &#147;Agreement&#148;). The capitalized terms that are not otherwise defined in this Agreement shall have the meanings
ascribed to such terms under the Plan. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SECTION 1 </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Restricted Stock Units &#150; Service-Based Vesting </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.1 <U>Grant</U>. As of the Grant Date, and subject to the terms and conditions of this Agreement and the Plan, the Company grants you Number
of Awards Granted (&#147;Restricted Stock Units&#148; or &#147;RSUs&#148;). Each RSU shall entitle you to one ordinary share of the Company, nominal value &#128;0.001 per share (&#147;Ordinary Share&#148;) on the applicable RSU Vesting Date,
provided the vesting conditions described in Section&nbsp;1.2 are satisfied. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.2 <U>Vesting</U>. Except as provided in Section&nbsp;1.3,
the RSUs awarded in Section&nbsp;1.1 shall vest as follows following the Grant Date (&#147;RSU Vesting Date(s)&#148;): Vesting Schedule (Dates&nbsp;&amp; Quantities); provided, however, that you continue in the service of the Company from the Grant
Date through the applicable RSU Vesting Date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Except as provided in Section&nbsp;1.3, if your Termination Date occurs prior to the RSU
Vesting Date, any RSUs awarded under Section&nbsp;1.1 that have not previously vested as of such Termination Date shall be permanently forfeited on your Termination Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.3 <U>Special Vesting Rules</U>. Notwithstanding Section&nbsp;1.2 above: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(a) If your Termination Date occurs by reason of death, Disability or Retirement with the Company&#146;s consent, any RSUs awarded under
Section&nbsp;1.1 that have not vested prior to such Termination Date shall become fully vested. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(b) If your Termination Date occurs by
reason of an Involuntary Termination for Economic Reasons, any RSUs awarded under Section&nbsp;1.1 that would otherwise be scheduled to vest under Section&nbsp;1.2 in the <FONT STYLE="white-space:nowrap">24-month</FONT> period following such
Termination Date shall continue to vest during such <FONT STYLE="white-space:nowrap">24-month</FONT> period according to the vesting schedule in effect prior to such Termination Date; provided, however, that if your Termination Date occurs for a
reason that is </P>
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both described in this subsection (b)&nbsp;and in subsection (d)&nbsp;below,