EX-10.15



 Exhibit 10.15 

ETSY, INC. 

COMPENSATION PROGRAM FOR NON-EMPLOYEE DIRECTORS

 EFFECTIVE AS OF THE IPO DATE 

This program has been established in order to attract and retain non-employee directors who have the knowledge, skills and experience to serve as a member of
the Board of Directors of Etsy, Inc. 
 All equity awards granted under this program shall be granted under the Company’s then-current equity incentive
plan (or director equity incentive plan, if any). Capitalized terms used but not defined will have the meaning set forth in the applicable equity incentive plan or equity award agreement. 

 

	A.	Annual Retainers 

 Beginning in 2016, each non-employee director who will continue
serving on the Board after the Company’s regular annual meeting of stockholders will receive the Annual Board Retainer and any applicable Additional Retainers, as described below. 

Annual Board Retainers 

The Annual Board Retainer will be paid annually in the form of Options and/or Restricted Stock Units in the discretion of the Compensation
Committee (in each case, “Equity”) with a fair value1 equal to the Annual Board Retainer; however, a director may elect to receive a portion of the Annual Board Retainer, up to a
maximum of 50%, in cash. Such election shall be made no later than December 31st for the Annual Board Retainer to be paid in the next calendar year. 

Each Annual Board Retainer Equity award will be granted on the date of the Company’s annual meeting of stockholders and will vest in full
on the date of the next annual meeting of stockholders, provided that the director has served continuously as a member of the Board during the vesting period. Notwithstanding the foregoing, an Annual Board Retainer Equity award will vest in full in
the event that the Company is subject to a Change in Control or in the event of the director’s death. 
 The portion of the Annual Board
Retainer paid in cash, if any, shall be paid in full within 30 days of the Company’s annual meeting of stockholders. 
 Additional
Retainers 
 Additional Retainer fees shall be paid in full in cash within 30 days of the Company’s annual meeting of stockholders.

  
  

 

	1 	“Fair value” of all equity awards described in this Compensation Program will be calculated in accordance with FASB ASC Topic 718. 








 In the event that a director’s committee service or role on a committee changes, he or she
will be entitled to a pro-rated Additional Retainer, as applicable, in cash, which shall be determined based on the number of whole months of service before the next annual meeting of stockholders. 

 

	B.	New Directors 

 Each new, non-employee director who joins the Board on or after the date
of the Company’s initial public offering will be granted Equity upon the effective date of his or her election to the Board with a fair value equal to the New Director Fee. Equity awards for new directors will vest in equal annual installments
on the first three anniversaries of the grant date, provided that the director has served continuously as a member of the Board through the applicable vesting date. Notwithstanding the foregoing, Equity awards for new directors will vest in full in
the event that the Company is subject to a Change in Control or in the event of the director’s death. 
 A director who receives a New
Director Fee will not receive an Annual Board Retainer in the same calendar year. 
 In addition, each new non-employee director shall be
entitled to a pro-rated Additional Retainer, as applicable, in cash, which shall be determined based on the number of whole months that the new director serves on the Board before the next annual meeting of stockholders. 

 

	C.	Schedule of Fees 

  

	 	1.	Annual Board Retainer: Equity and/or cash with a total fair value of $175,000 

  

	 	2.	New Director Fee: Equity with fair value on the grant date equal to $350,000 

  

	 	3.	Additional Retainers: Cash equal to: 

  

					
	 Lead Independent Director
		$	15,000	  
	 Chairman of the Audit Committee
		$	18,000	  
	 Member of the Audit Committee
		$	9,000	  
	 Chairman of the Compensation Committee
		$	10,000	  
	 Member of the Compensation Committee
		$	5,000	  
	 Chairman of the Nominating and Corporate Governance Committee
		$	6,000	  
	 Member of the Nominating and Corporate Governance Committee
		$	3,000	  


  
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	D.	Expenses 

 The reasonable expenses incurred by non-employee directors in connection with
attendance at Board or committee meetings or other Company-related activities will be reimbursed upon submission of appropriate documentation. 
  

	E.	Administration 

 This Program shall be administered by the Compensation Committee, which
shall have the power to interpret these provisions and approve changes from time to time as it deems appropriate. 

  
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