CEO PSU Award
Keenova Therapeutics plc
2025 Stock and Incentive Plan (“Plan”)
TERMS AND CONDITIONS OF PERFORMANCE RESTRICTED UNIT AWARD
PERFORMANCE RESTRICTED UNIT AWARD (“Award”) granted on _______, 202__ (the “Grant Date”).
1.Grant of Performance Restricted Units. Keenova Therapeutics plc (the “Company”) has granted to you a target number of [____] Performance Restricted Units subject to the provisions of these Terms and Conditions and the Plan. The Company will hold the Performance Restricted Units in a bookkeeping account on your behalf until such units become payable or are forfeited or cancelled.
2.Amount and Form of Payment. Each Performance Restricted Unit represents one (1) Ordinary Share and any Performance Restricted Units that vest pursuant to Section 4 will be paid solely in Shares, subject to Section 11. Notwithstanding anything contrary in the Plan, any fractional Shares will be rounded up to the nearest whole Share for purposes of payment. Any Share issued pursuant to a Performance Restricted Unit shall be paid up to its par value on issuance by a subsidiary of the Company or as otherwise determined by the Company.
3.Dividends. Each unvested Performance Restricted Unit will be credited with a Dividend Equivalent Unit (“DEU”) for any cash or stock dividends distributed by the Company on an Ordinary Share. DEUs will be calculated at the same dividend rate paid to other holders of Ordinary Shares and will be adjusted and vest in accordance with the adjustment and vesting provisions applicable to the underlying Performance Restricted Units.
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