Document:

exv10w1

Exhibit 10.1

AMENDMENT NO. 1

TO THE

MERCADOLIBRE, INC. 2008 LONG TERM RETENTION PROGRAM

WHEREAS, MercadoLibre, Inc. (the “Company”) maintains the 2008 Long Term Retention Program
(the “Plan”), effective as of January 1, 2008;

WHEREAS, the Company desires to amend the Plan, effective as of the date this document is
executed, to clarify that in the event the shares of Company common stock are delisted from NASDAQ
or another national stock exchange, no shares of Company common stock shall be paid under the Plan;

WHEREAS, Section 7.F. of the Plan authorizes the Board to make amendments to the Plan; and

WHEREAS, the Board has approved the amendment to the Plan set forth below;

NOW, THEREFORE, the Company amends the Plan, effective as of the date this document is
executed, as follows:

	1.	 	Article 3 of the Plan is hereby amended by deleting the existing second paragraph of Article
3 of the Plan in its entirety and replacing it with the following:

“Each Award shall be enumerated as a fixed amount to be paid in United States
dollars, unless the Award Committee determines to pay the amount of any such Award
in a local currency. The amount of each Award, to the extent it becomes payable,
shall be paid one-half in the form of cash, and one-half in the form of Shares,
unless the Award Committee determines to make payment in any other combination of
cash and Shares (including, but not limited to, either all cash or all Shares);
provided, however, that 100% of the Award shall be paid in cash if the Shares are
not then listed for trading on the NASDAQ Global Market or another national stock
exchange or quoted on the Over-the-Counter Bulletin Board (the “OTCBB”). The number
of Shares issuable pursuant to an Award shall equal the quotient of (a) divided by
(b), where (a), the numerator, equals the U.S. dollar amount of the Award that is
payable in Shares, and (b), the denominator, equals the Market Value of the Shares.”

	2.	 	Article 5 of the Plan is hereby amended by deleting the existing first sentence of the second
paragraph and replacing it with the following:

“Subject to Article 6, only if the Participant is employed as an Eligible Employee
on the date each portion of the Award is to be paid to such Participant, the Award
shall be payable, in equal portions of cash and Shares (except at the times provided
in Section 3) as follows:”

	3.	 	Except as specifically amended hereby, the remaining terms of the Plan will remain in full
force and effect.

	 
	4.	 	Capitalized terms that are not defined herein have the meanings set forth in the Plan.

 

 

 

IN WITNESS WHEREOF, this Amendment No. 1 has been executed this
June 25, 2010 to be
effective on this same date.

	 	 	 	 	 	 	 	 	 
	 	 	MERCADOLIBRE, INC.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	Title:exv10w2

Exhibit 10.2

AMENDMENT NO. 1

TO THE

MERCADOLIBRE, INC. 2009 LONG TERM RETENTION PROGRAM

WHEREAS, MercadoLibre, Inc. (the “Company”) maintains the 2009 Long Term Retention Program
(the “Plan”), effective as of January 1, 2009;

WHEREAS, the Company desires to amend the Plan, effective as of the date this document is
executed, to revise the definition of “Market Value” in the event the shares of Company common
stock are delisted;

WHEREAS, Section 7.F. of the Plan authorizes the Board to make amendments to the Plan; and

WHEREAS, the Board has approved the amendment to the Plan set forth below;

NOW, THEREFORE, the Company amends the Plan, effective as of the date this document is
executed, as follows:

	1.	 	Article 2 of the Plan is amended by deleting existing Section 2G. of the Plan in its entirety
and replacing it with the following:

“G. “Market Value” of a Share, as of any date, means (i) the
average closing sale price of one Share as reported on a national stock
exchange, including, but not limited to, the NASDAQ Global Market (a
“National Stock Exchange”) during the 60-trading day period (or such
shorter period as the Shares are so listed) ending on the last trading
day of the calendar year preceding such date; (ii) if the Shares are not
listed for trading on a National Stock Exchange during any day in that
60-trading day period but are quoted on the Over-the-Counter-Bulletin
Board (the “OTCBB”), the mean between the closing bid and closing asked
prices for the Shares as quoted on the OTCBB during the 60-trading day
period (or such shorter period as the Shares are so quoted) ending on
the last trading day of the calendar year preceding such date, (iii) if
the Shares are not listed for trading on a National Stock Exchange or
quoted on the OTCBB during any day in that 60-trading day period and the
 shares were last traded on a National Stock Exchange, the average
closing sale price of one Share as reported on the National Stock
Exchange during the 90-trading day period ending on the last day the
Shares were listed for trading on such Exchange or (iv) if the Shares
are not listed for trading on a National Stock Exchange or quoted on the
OTCBB during any day in that 60-trading day period and the shares were
last traded on the OTCBB, the mean between the closing bid and closing
asked prices for the Shares as quoted on the OTCBB during the 90-trading
day period ending on the last day the Shares were quoted on the OTCBB.”

	2.	 	Except as specifically amended hereby, the remaining terms of the Plan will remain in full
force and effect.

	3.	 	Capitalized terms that are not defined herein have the meanings set forth in the Plan.

 

 

 

IN WITNESS WHEREOF, this Amendment No. 1 has been executed this
June 25, 2010.

	 	 	 	 	 	 	 	 	 
	 	 	MERCADOLIBRE, INC.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Its:exv10w4

Exhibit 10.4

MERCADOLIBRE, INC. 2010 DIRECTOR COMPENSATION PROGRAM

Effective as of June 10, 2010

 

 

 

Contents

MercadoLibre, Inc. 2010 Director Compensation Program

	 	 	 	 	 
	Article 1. Purpose
	 	 	1	 
	Article 2. Definitions
	 	 	1	 
	Article 3. Awards
	 	 	3	 
	Article 4. Termination of Service as a Director; Forfeitures
	 	 	3	 
	Article 5. Administrative Provisions
	 	 	4	 

 

i

 

MERCADOLIBRE, INC. 2010 DIRECTOR LONG TERM COMPENSATION

PROGRAM

Article 1. Effective Date

The MercadoLibre, Inc. 2010 Director Compensation Program (the “Plan”) is effective as of June 10,
2010.

Article 2. Definitions

When used in the Plan, the following terms shall have the meanings set forth below:

	 	A.	 	“Adjustable Award” means a fixed amount, subject to adjustment in accordance
with Article 3, payable to a Participant under this Plan in each of 2011, 2012 and
2013 for services provided to the Company in 2010, 2011 and 2012, respectively in the
form of cash. Subject to adjustment in accordance with Article 3, the amount of the
Adjustable Award payable to each Participant in each of 2011, 2012 and 2013 is
$43,248, $50,271, $58,435, respectively. The timing of the payment of an Adjustable
Award, as well as the conditions of such payment, is subject to the Plan terms. An
Adjustable Award may, but is not required to, be evidenced by a separate agreement
executed by the Participant. Subject to Article 4, an Adjustable Award will be
subject to such terms and conditions which the Award Committee determine are
appropriate.

	 	B.	 	“Award” means, with respect to any Participant, the sum of the Adjustable
Award, Non-Adjustable Board Service Award and Non-Adjustable Chair Service Award, if
any, payable in any one year under the Plan.

	 	C.	 	“Award Committee” means the Compensation Committee of the Board, or such
other committee that the Board appoints to administer this Plan, which shall have
general administrative authority concerning the Plan, and shall, subject to Article 5,
have the sole and absolute authority and discretion to resolve any and all terms and
conditions of any Awards and disputes concerning the Plan and any Awards hereunder.

	 	D.	 	“Board” means the board of directors of the Company.

	 	E.	 	“Company” means MercadoLibre, Inc. and its consolidated subsidiaries, and
MercadoLibre, Inc.’s successors or assigns.

 

1

 

	 	F.	 	“Market Value” of a Share, as of any date, means (i) the average closing sale
price of one Share as reported on a national stock exchange, including, but not
limited to, the NASDAQ Global Market (a “National Stock Exchange”) during the
30-trading day period (or such shorter period as the Shares are so listed) ending on
the last trading day preceding such date; (ii) if the Shares are not listed for
trading on a National Stock Exchange during any day in that 30-trading day period but
are quoted on the Over-the-Counter-Bulletin Board (the “OTCBB”), the mean between the
closing bid and closing asked prices for the Shares as
quoted on the OTCBB during the 30-trading day period (or such shorter period as the
Shares are so quoted) ending on the last trading day preceding such date, (iii) if
the Shares are not listed for trading on a National Stock Exchange or quoted on the
OTCBB during any day in that 30-trading day period and the shares were last traded
on a National Stock Exchange, the average closing sale price of one Share as
reported on the National Stock Exchange during the 90-trading day period ending on
the last day the Shares were listed for trading on such Exchange or (iv) if the
Shares are not listed for trading on a National Stock Exchange or quoted on the
OTCBB during any day in that 30-trading day period and the shares were last traded
on the OTCBB, the mean between the closing bid and closing asked prices for the
Shares as quoted on the OTCBB during the 90-trading day period ending on the last
day the Shares were quoted on the OTCBB.

	 	G.	 	“Non-Adjustable Board Service Award” means a fixed amount payable to a
Participant under this Plan in each of 2011, 2012 and 2013 for services provided to
the Company as a Board member in 2010, 2011 and 2012, respectively in the form of
cash. The amount of the Non-Adjustable Board Service Award payable to each
Participant in each of 2011, 2012 and 2013 is $32,436, $37,703 and $43,826,
respectively. The timing of the payment of a Non-Adjustable Board Service Award, as
well as the conditions of such payment, is subject to the Plan terms. A
Non-Adjustable Board Service Award may, but is not required to, be evidenced by a
separate agreement executed by the Participant. Subject to Article 4, a
Non-Adjustable Board Service Award will be subject to such terms and conditions which
the Award Committee determine are appropriate.

	 	H.	 	“Non-Adjustable Chair Service Award” means a fixed amount payable to a
Participant under this Plan in each of 2011, 2012 and 2013 for services provided to
the Company as the Chairman of a Board committee or as the Lead Independent Director
in 2010, 2011 and 2012, respectively in the form of cash. The amount of the
Non-Adjustable Chair Service Award payable to the Chairman of the Audit Committee in
each of 2011, 2012 and 2013 is $16,218, $18,852 and $21,913, respectively. The amount
of the Non-Adjustable Chair Service Award payable to the Chairman of the Compensation
Committee in each of 2011, 2012 and 2013 is $12,974, $15,081 and $17,531,
respectively. The amount of the Non-Adjustable Chair Service Award payable to the
Chairman of the Nominating and Corporate Governance Committee in each of 2011, 2012
and 2013 is $5,406, $6,284 and $7,304, respectively. The amount of the Non-Adjustable
Chair Service Award payable to the Lead Independent Director in each of 2011, 2012 and
2013 is $10,812, $12,568 and $14,609, respectively. The timing of the payment of a
Non-Adjustable Chair Service Award, as well as the conditions of such payment, is
subject to the Plan terms. A Non-Adjustable Chair Service Award may, but is not
required to, be evidenced by a separate agreement executed by the Participant.
Subject to Article 4, a Non-Adjustable Chair Service Award will be subject to such
terms and conditions which the Award Committee determine are appropriate.

 

2

 

	 	I.	 	“Participant” means a person who is designated as an “outside director” by
the Board. The designation of an individual as a Participant under this Plan shall
not provide the individual with any rights to any future participation for any
subsequent long term compensation plans that may be adopted by the Company in future
years but, subject to the terms of the Plan, an individual shall remain a Participant
for purposes of receiving a payment of Award until such individual ceases to be a
Participant.

	 	J.	 	“Shares” means shares of Common Stock of the Company, $0.001 par value per
share.

Article 3. Awards

Subject to Article 4, immediately following the date of the annual meeting of the Company’s
stockholders in each of 2011, 2012 and 2013 (each, the “Annual Meeting”), the Company shall pay to
each Participant:

(1) a cash payment equal to the product of (i) multiplied by (ii), where (i) equals the
Adjustable Award for such year and (ii) equals the quotient of (a) divided by (b), where (a), the
numerator, equals the Market Value as of the date of the subject Annual Meeting and (b), the
denominator, equals the Market Value as of the date of the prior year’s Annual Meeting;

(2) a cash payment equal to the Non-Adjustable Board Service Award for such year; and

(3) if applicable, a cash payment equal to the Non-Adjustable Chair Service Award for such
year.

Each Award shall be paid in United States dollars, unless the Award Committee determines to pay the
amount of any such Award in a local currency.

Article 4. Termination of Service as a Director; Forfeitures

(a) Participation in the Plan shall cease immediately upon a Participant’s resignation or removal
from the Board for any reason (with or without cause), or if determined by the Award Committee,
upon the Participant’s death or disability. Disability will be determined upon receipt of a letter
of determination or similar of the Participant’s complete disability by the applicable governmental
authority under local applicable law, which complete disability entitles the Participant to
disability payments under local law. Notwithstanding the foregoing, in the event a Participant has
served as a member of the Board from one Annual Meeting to the next Annual Meeting but is not
re-elected to the Board at the latter Annual Meeting, the subject Participant shall be entitled to
receive the Award for service during the subject year but shall not be entitled to receive any
Awards for services in years he did not serve as a member of the Board. As an example, if a
Participant serves a member of the Board from the 2010 Annual Meeting until the 2011 Annual
Meeting, he or she will be entitled to receive the Award for services in 2010. However, if the
subject Participant is not re-elected at the 2011 Annual Meeting, he or she shall
not receive the Award for 2011. Notwithstanding anything herein to the contrary, in the event of
Participant’s resignation from the Board before the end of any year-long period between Annual
Meetings, the Company shall pay to Participant an amount equal to the product of (i) multiplied by
(ii), where (i) equals the proportion of the year that such Participant served as a member of the
Board and (ii) equals the Award that such Participant would have been entitled to receive had the
Participant served the entire year (the “Proportional Award”). If a Participant is removed from
the Board, such Participant will not be entitled to receive a Proportional Award.

 

3

 

(b) Subject to Article 4(a), any Award under this Plan that has not been actually paid to the
Participant prior to the date of the Participant’s death or disability shall be forfeited, except
that the Award Committee may pay an Award which is not then otherwise due and payable upon the
disability or death of the Participant in accordance with such rules or procedures established by
the Award Committee.

(c) The Participant may designate in writing one or more persons (“beneficiary”) in the event the
Award Committee decides to pay an Award after the death of a Participant in accordance with this
Section 4, to receive any unpaid portion of the Participant’s Award upon the death of the
Participant. By similar action, the Participant may designate a change of beneficiary at any time,
which change shall be effective only upon receipt by the Award Committee of said notice. The last
such designation form filed with the Award Committee prior to the Participant’s death shall
control. The Award Committee may establish a form or other requirements for such designation. If
the Participant designates his spouse as a beneficiary, the divorce of Participant shall
automatically revoke that designation of his spouse as beneficiary except to the extent otherwise
provided in a subsequent beneficiary designation filed by the Participant with the Award Committee.
In the absence of a written designation, or in the event the Participant dies without a
beneficiary surviving him, the amount which would otherwise be payable to his beneficiary shall be
paid to the surviving spouse of the Participant or if none, to the Participant’s estate. A
beneficiary of a Participant shall have no interest or rights hereunder during the lifetime of the
Participant.

Article 5. Administrative Provisions

	 	A.	 	The Plan was approved by the Board on
June 25, 2010 to be effective as
of June 10, 2010.

	 	B.	 	Unless the Board provides otherwise, the Plan shall be administered and
interpreted by the Award Committee, which has been provided absolute authority
hereunder to administer the Plan. The Board and its members, the members of the Award
Committee and any other individual who may, from time to time, have been delegated
responsibility with respect to the administration of this Plan (collectively,
“Authorized Persons”), shall have the full authority, discretion and power necessary
or desirable to administer and interpret this Plan, in accordance with the Plan terms.
Benefits under the Plan shall be payable only if the Authorized Persons in their
respective sole and absolute discretion determine that any such benefits are properly
payable under the Plan. Without in any way limiting the foregoing, all Authorized
Persons shall have complete authority, sole discretion and power to: (i) determine the
Performance Goals

 

4

 

applicable to each Participant, as well as the relative weighting of each such Performance Goals to
determine eligibility for payment of an Award hereunder; (v) interpret the
provisions of this Plan and any other documentation used in connection with this
Plan; (iii) establish and interpret rules, regulations and procedures (written or by
practice) for the administration of the Plan; and (iv) make all other determinations
and take all other actions necessary or desirable for the administration or
interpretation of this Plan. The express grant in the Plan of any specific power to
Authorized Persons shall not be construed as limiting any power or authority of such
Authorized Person. All actions, decisions and interpretations of the Authorized
Persons shall be final, conclusive and binding on all parties. All expenses of
administering the Plan shall be borne by the Company.

	 	C.	 	Nothing in this Plan shall be deemed by implication, action or otherwise to
constitute a contract of employment.

	 	D.	 	A Participant shall have no right to anticipate, alienate, sell, transfer,
assign, pledge or encumber any right to receive any Award made under the Plan, nor
will any Participant have any lien on any assets of the Company by reason of any Award
made under the Plan.

	 	E.	 	The Company shall have the right to deduct or withhold, or require a
Participant to remit to the Company, any taxes required by law to be withheld from
Awards made under this Plan.

	 	F.	 	The Plan may be amended, suspended or terminated at any time and from time to
time, by action of the Board or the Award Committee, but in any event, the Plan will
be terminated no later than upon the last date the Company pays all Participants any
and all amounts that may due under the Plan and no amounts remain due and payable
under the Plan to any person as determined by Award Committee.

	 	G.	 	The adoption of the Plan does not imply any commitment to continue to
maintain the Plan, or any modified version of the Plan, or any other plan for
incentive compensation for such Participant for any period of time. Neither the
adoption of this Plan, its operation, nor any documents describing or referring to
this Plan (or any part thereof) shall confer upon any person any right to continue as
a member of the Board or in any way affect any right and power of the Company or the
shareholders to remove the director from the Board in accordance with the charter
documents of the Company.

	 	H.	 	This Plan, insofar as it provides for Awards, shall be unfunded, and the
Company shall not be required to segregate any assets that may at any time be
represented by Awards under the Plan. Any liability of the Company to any person with
respect to any Awards under this Plan shall be based solely upon any contractual
obligations which may be created pursuant to this Plan. No such obligation of the
Company shall be deemed to be secured by any pledge of, or other encumbrance on, any
property of the Company.

 

5

 

	 	I.	 	In order to be effective, any amendment of this Plan or any Award must be in
writing and made by the Award Committee. No oral statement, representation, written
presentation or the like shall have the effect of amending or modifying this Plan or
any Award, or otherwise have any binding effect on the Company, the Board, the Chief
Executive, the Award Committee or any individual who has been delegated authority to
administer this Plan.

	 	J.	 	The Plan shall be construed in accordance with and governed by the
substantive laws of the State of Delaware, without regard to principles of conflicts
of law.

	 	K.	 	In case any provision of the Plan shall be held illegal or void, such
illegality or invalidity shall not affect the remaining provisions of this Plan, but
shall be fully severable, and the Plan shall be construed and enforced as if said
illegal or invalid provisions had never been inserted herein.

	 	L.	 	Except for their own gross negligence or gross misconduct regarding the
performance of the duties specifically assigned to them under, or their willful breach
of the terms of this Plan, the Company (and its affiliates), Board and its members,
the Award Committee and its members, and any other entity or individual administering
any aspect of this Plan shall be held harmless by the Participants and their
respective representatives, heirs, successors, and assigns, against liability or
losses occurring by reason of any act or omission under the Plan.

Executed effective as of the 10th day of June, 2010.

	 	 	 	 	 	 	 
	 	 	MercadoLibre, Inc.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

	 	 

 

6

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00176-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00176-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00176-of-00352.parquet"}]]