Jazz Pharmaceuticals plc — Director's Dealing 2010

Aug 27, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: JAZZ PHARMACEUTICALS INC (JAZZ)
CIK: 0001232524
Period of Report: 2010-08-25

Reporting Person: MICHELSON MICHAEL W (Director, See Footnote 4)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-08-25	Phantom Stock	$	A	3045	Acquired		Common Stock (3045)	Direct
2010-08-25	Director Stock Option (Right to Buy)	$8.23	A	12500	Acquired	2020-08-25	Common Stock (12500)	Direct

Footnotes

F1: Each share of phantom stock is the amount equivalent to one share of the Issuer's common stock.

F2: The shares of phantom stock become payable in common stock upon the earlier to occur of the tenth business day following (i) the Reporting Person's separation from service as a director or (ii) a Change of Control of the Issuer (as defined under the Issuer's Directors Deferred Compensation Plan, as amended).

F3: The option shares shall vest in a series of twelve (12) successive equal installments upon completion of each month of Continuous Service (as defined under the Issuer's 2007 Non-Employee Directors Stock Option Plan, as amended) over the one (1)-year period measured from August 15, 2010.

F4: As previously reported, the Reporting Person may be deemed to be the beneficial owner of more than 10% of the shares of common stock of the Issuer, but disclaims such beneficial ownership except to the extent of his pecuniary interest therein.