Document:

EX-10.20

 Exhibit 10.20 

 
 

 
 October 15, 2018 

Mr. Aristotle Balogh 
 Re: Offer of
Employment with Airbnb, Inc. (“Agreement”) 
 Dear Aristotle: 

Congratulations! We are thrilled to offer you a place in the Airbnb family. 

This letter is to let you know that Airbnb, Inc. (“Airbnb” or the “Company”) is formally offering you the
position of Chief Technology Officer (CTO) and we couldn’t be happier. 
 We hire people who amaze, inspire, and delight us. You’re just the
person we’ve been looking for. We know that your skills and experience will help Airbnb change the world – one traveler, host, experience, and neighborhood at a time. 

You will report directly to the Chief Executive Officer, Brian Chesky, starting on November 12, 2018 (the “Start Date”). For the
avoidance of doubt, it is understood and agreed that you will not have an employment relationship with Airbnb before the Start Date. You will be located in San Francisco where you will do your onboarding. 

We can’t wait to have you on board. 
 Compensation and
Benefits 
 Airbnb offers a highly competitive package of compensation and benefits. Your package includes the following: 

Salary 
 Your annual salary (“Annual
Salary”) will be six hundred thousand dollars ($600,000), which amount would be subject to any required tax and other deductions, payable in bi-monthly installments in accordance with
Airbnb’s normal payroll practices. The Annual Salary shall be reviewed by the Company, the Board of Directors or Compensation Committee from time to time in accordance with the Company’s ordinary practice. 

  
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 Make Good Bonus 

Airbnb will pay you a make good bonus of six hundred seventy five-thousand dollars ($675,000). The bonus will be paid in one lump sum in a pay period in
January 2019. 
 2019 Bonus 
 In addition, you will be
eligible to earn a one-time performance bonus for the 2019 calendar year, which will be targeted at seventy-five percent (75%) of your Annual Salary (the “2019 Bonus”). The 2019 Bonus
will be governed by the terms and conditions of the 2019 Bonus Plan, once approved by the Board of Directors. The 2019 Bonus will be based upon factors including the Company’s attainment of written targeted goals as set by the Board of
Directors or Compensation Committee in its sole discretion, and documented in the 2019 Bonus Plan. The 2019 Bonus payment, if any, will be subject to any required tax and other deductions, payable in accordance with Airbnb’s normal payroll
practices. No amount of 2019 Bonus is guaranteed, and you must be an employee on the 2019 Bonus payment date to be eligible to earn the 2019 Bonus; no partial or prorated bonuses will be provided. You will only be eligible for a bonus after calendar
year 2019 if there is a bonus plan in place for similarly situated executives. 
 New Hire Equity 

First RSU Award. Subject to the approval of Airbnb’s Board of Directors, we will grant you an award of restricted stock units with respect to
190,476 shares (the “First RSU Award”) of Airbnb’s Common Stock. The First RSU Award will be subject to the terms and conditions of Airbnb’s 2018 Equity Incentive Plan (the “Plan”) and an RSU
agreement between you and Airbnb in a form approved by the Board (please refer to Addendum A for general RSU information). The settlement of the First RSU Award is conditioned on satisfaction of two vesting requirements: a time and service-based
requirement and a liquidity event requirement, each of which are described below and in your RSU Agreement. The First RSU Award will be subject to the following time and service-based requirement: 40% of the total shares subject to the First RSU
Award shall satisfy the time and service-based vesting requirement on the first anniversary of November 25, 2018 (the “First RSU Vesting Start Date”), 7.5% of the shares subject to the First RSU Award shall
satisfy the time and service-based vesting requirement on each of the next four Quarterly Installment Dates (as defined below) following the first anniversary of the First RSU Vesting Start Date, 5% of the shares subject to the First RSU Award shall
satisfy the time and service-based vesting requirement on each of the next four Quarterly Installment Dates thereafter, and 2.5% of the shares subject to the First RSU Award shall satisfy the time and service-based vesting requirement on each of the
next four Quarterly Installment Dates thereafter, in each case subject to your continued service to Airbnb on each vesting date. The right to receive 

  
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Airbnb, Inc. Common Stock upon settlement of the First RSU Award will be subject to continued service and conditioned upon an initial public offering of the Company’s Common Stock or the
Company’s Acquisition (as defined in the Plan, and provided that the Acquisition constitutes a change in the ownership or effective control of the Company or in the ownership of a substantial portion of the assets of the Company as defined in
the regulations under Section 409A of the Internal Revenue Code of 1986, as amended) (a “Change in Control Transaction”), in accordance with the terms and conditions of the Plan and the RSU agreement, any required
holding period, and subject to compliance with applicable securities laws. 
 Second RSU Award. Subject to the approval of Airbnb’s Board of
Directors, we will grant you awards of restricted stock units with respect to 19,047 shares (the “Second RSU Award” and, together with the First RSU Award, the “RSU Awards”) of Airbnb’s Common
Stock. The Second RSU Award will be subject to the terms and conditions of the Plan and an RSU agreement between you and Airbnb in a form approved by the Board. The settlement of the Second RSU Award is conditioned on satisfaction of two vesting
requirements: a time and service-based requirement and a liquidity event requirement, each of which are described below and in your RSU Agreement. The Second RSU Award will be subject to the following time and service-based requirement: 1/16th of
the shares subject to the Second RSU Award shall satisfy the time and service-based vesting requirement on each Quarterly Installment Date (as defined below) after May 25, 2019, in each case subject to your continued service to Airbnb on each
applicable date. The right to receive Airbnb, Inc. Common Stock upon settlement of the Second RSU Award will be subject to continued service and conditioned upon an initial public offering of the Company’s Common Stock or a Change in Control
Transaction, in accordance with the terms and conditions of the Plan and the RSU agreement, any required holding period, and subject to compliance with applicable securities laws. 

“Quarterly Installment Date” shall mean the 25th day of each February, May, August and November, but you will not vest at all unless
and until a liquidity vesting event has occurred that is an initial public offering of Airbnb Common Stock or a Change in Control Transaction, in accordance with the terms and conditions of the Plan and the RSU agreement, any required holding
period, and subject to compliance with applicable tax and securities laws. You will receive the Airbnb Common Stock subject to the RSU Awards upon settlement of the First RSU Award or Second RSU Award, respectively, following its vesting, in
accordance with the terms and conditions of the Plan and the RSU agreement, but settlement is not subject to continued service at the time of the liquidity event to the extent you have satisfied the time and service-based requirement. 

  
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 Stock Option. Subject to the approval of Airbnb’s Board of Directors, we will grant you an option
to purchase 114,285 shares of Airbnb Common Stock (the “2019 Option”). Subject to your continued employment, the 2019 Option will vest over four years with the first vest date to be May 25, 2019, at which time, 6.25% of
the 2019 Option will vest and then the remainder shall vest at a rate of approximately 2.083333% on the monthly anniversary of the first vest date for the 2019 Option for the next 45 months. The 2019 Option will be subject to the terms and
conditions applicable to options granted under the Plan and the applicable Stock Option Agreement. The exercise price per share of the 2019 Option will be equal to the fair market value of a share of Airbnb Common Stock on the date of grant of such
Option, as determined by the Airbnb Board of Directors when the 2019 Option is granted, based on the Board’s consideration of a number of relevant factors, including the then-current independent valuation of the fair market value of shares of
Airbnb’s Common Stock for purposes of Section 409A of the Internal Revenue Code. 
 You will not be eligible to receive another equity award
during Airbnb’s Annual Compensation Review in February 2019. You will be eligible to receive a refresh equity award during the regular Annual Compensation Review in February 2020. 

Airbnb Benefits Plan 
 As a full-time employee, you will
be eligible to participate in Airbnb’s comprehensive benefits programs. 
 We want you to be happy and healthy. So you’ll get access to a variety
of benefits, including medical, dental, and vision care; short and long-term disability; life and AD&D insurance; Flexible Spending Accounts; and Employee Assistance Programs. You’ll be enrolled in these plans effective your first date of
hire. 
 In addition, you may choose to participate in Airbnb’s 401k traditional and 401k Roth Plans. 

Participation in any of Airbnb’s employee benefit plans is expressly subject to the written terms and conditions contained in the applicable plan
documents. You will receive detailed information about our benefit plans on your first day with us. 
 Airbnb Transit Subsidy 

You will be eligible to participate in Airbnb’s monthly transit subsidy program which includes subsidies for parking and/or transit or biking. 

  
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 Employee Travel Coupon 

The only way we’ll understand our community is if we are genuine Airbnb community members. Therefore, every Airbnb employee receives a $500.00 Employee
Travel Coupon (ETC) at the beginning of each quarter in a calendar year. You will receive your first ETC during your first week as an employee. We hope you use this coupon to explore new places, meet new people, and gain new understanding into how
Airbnb connects the world. You will receive detailed information about your ETC and the ETC Program on your first day. 
 Paid Time Off (PTO), Paid Sick
Time, Holidays, and Winter Closure 
 As a regular, full-time employee, you are eligible to earn fifteen (15) days of PTO per calendar year. Airbnb also
offers five (5) Paid Sick days so that you can rest-up and get healthy from home on those days when you are feeling under the weather. In addition, you will receive paid holidays per our Company policy.
In addition to PTO and Holidays, there is a Winter Closure tacked on at the end of the year so you can plan ahead to spend time with family and friends. The holiday calendar is published annually and is subject to change. You will have access to
detailed information about our PTO, Paid Sick Time, and Holidays policies upon starting with us. 
 Airbnb reserves the right to change or otherwise modify,
in its sole discretion, the preceding terms of employment. 
 Conditions of Employment 

This offer of employment is contingent on the following: 

Authorization to Work 
 This offer is contingent upon your
ability to provide proper work authorization to be employed by Airbnb. Within 3 business days of your Start Date, you must show proof of identity and legal authorization to work in the United States as required by the Immigration Reform and Control
Act of 1986. And, from time to time during your employment, you may be asked to provide proof of your right to work in the US. 
 If you are currently in a
nonimmigrant visa status, or your work authorization will be sponsored by Airbnb, we will initiate the visa process with our chosen immigration counsel, once an offer has been accepted. Our immigration counsel will reach out to you with a request to
provide the documents necessary to support the visa application process. It is advised that you do not give notice to your current employer until your Airbnb sponsored visa has been approved. 

  
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 Background Check 

You must receive a satisfactory verification of criminal, education and/or employment background, and satisfactory verification of references in the discretion
of the Company. This offer and any employment is subject to, and contingent upon, a satisfactory background and/or reference check(s). Furthermore, the Company may rescind or revoke your offer of employment and/or sever any employment relationship
that is deemed to exist if, in its discretion, the Company determines that you fail to receive a satisfactory background and/or reference check, or you fail to consent to or complete a request for a background or reference check(s). 

Confidentiality and Protection of Intellectual Property 

You must sign and comply with Airbnb’s Employee Invention Assignment and Confidentiality Agreement, attached as Exhibit A (the
“Confidentiality Agreement”), and deliver it with this executed letter. 
 In addition, we want to impress upon you that we do not want you to,
and we direct you not to, bring with you any confidential or proprietary material or information of any former employer or to violate any other obligations you may have to any former employer. 

Other Agreements 
 This Agreement, the Confidentiality
Agreement and the other agreements referred to in this Agreement supersede and replace any prior agreements, representations or understandings (whether written, oral, implied or otherwise) between you and Airbnb and constitute the complete agreement
between you and Airbnb regarding the subject matter set forth herein and therein. This letter agreement may not be amended or modified, except by an express written agreement signed by both you and the Chief Executive Officer. 

Exhibit B to this letter sets forth a complete list of all plans and agreements that you will be required to enter into with respect to, or that
otherwise will relate to or govern the terms of, your employment with Airbnb, your equity compensation arrangements as set forth in this letter and your share ownership upon the exercise or settlement of your equity awards (including any
restrictions or obligations that such shares would be subject to, but excluding, for the avoidance of doubt, any such agreements as they relate to your Investment) (collectively, the “Other Agreements”). In the event of any
conflict between this letter and any Other Agreement (including any Other Agreement of Airbnb or among any shareholders of Airbnb), this letter will prevail. For the avoidance of doubt, any securities and/or shares issued under this Agreement will
be subject to the Airbnb Amended and Restated Bylaws. 

  
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 Arbitration 

You and Airbnb (the “Parties”) each agree that any and all controversies, disputes or claims arising out of, relating to or concerning
your employment relationship or the termination thereof, including without limitation, the validity, enforceability, interpretation of this agreement to arbitrate, and including, but not limited to, claims for unpaid wages, wrongful termination,
claims relating to equity interests that may have been granted to you, and/or discrimination or harassment, whether sounding in tort, contract, federal, state, local or other statutory violation or otherwise, and without regard to legal
characterization of theory, shall be finally resolved through binding arbitration by JAMS under the JAMS Employment Arbitration Rules and Procedures then effect and subject to the JAMS Policy on Employment Arbitration Minimum Standards of Procedural
Fairness (the “JAMS Rules”). 
 The arbitration shall be before a single arbitrator appointed pursuant to the JAMS Rules and shall occur in San
Francisco County California. The award shall be a written decision, shall be a reasoned decision stating the factual and legal conclusions and legal basis therefore, and shall be in English. The arbitrator’s decision shall be final, binding,
and conclusive. The agreement to arbitrate does not restrict your right to file administrative claims you may bring before any government agency where you are permitted by law to file such claims (including the National Labor Relations Board, the
Equal Opportunity Commission and the Department of Labor). The Parties further agree that this Agreement is intended to be strictly construed to provide for arbitration as the sole and exclusive means for resolution of all disputes hereunder to the
fullest extent permitted by law. The Parties expressly waive any entitlement to have such controversies decided by a court or a jury. The Parties agree that judgment on any award in arbitration shall be enforceable in any court with competent
jurisdiction. This clause shall not preclude either Party from seeking provisional remedies in aid of arbitration from a court of competent jurisdiction. 

At-will Relationship 

As is customary, our employment relationship is at-will. This means either you or Airbnb may terminate the employment
relationship at any time and for any reason or no reason, without prior notice. Any modification or change in your at-will employment status may only be made if in writing and signed by you and Airbnb’s
Chief Executive Officer and General Counsel. 
 In making your decision to accept this offer of employment, you agree and acknowledge that you have not
relied upon any other promises or representations made by Airbnb or our representatives except those made in this letter. Further, once accepted, this offer letter constitutes the entire agreement between you and

  
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Airbnb with respect to the subject matter herein and supersedes all prior offers, negotiations and agreements, if any, whether written or oral, relating to such subject matter. 

  
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 This offer will remain open for 5 business days after it has been signed by Airbnb. Should you have anything
else that you wish to discuss, please do not hesitate to contact Beth Axelrod. If you decide to accept our offer, please sign this letter via electronic signature as sent through DocuSign. Please retain a copy for your personal records. 

Aristotle, I am personally delighted to have you on board. We have an incredible journey in front of us. I’m so happy that you’ll be sharing it with
everyone at Airbnb. 
 Let’s change the world together. 

Sincerely, 
 Airbnb, Inc. 

 

			
		
	 By:
	 	 /s/ Beth Axelrod

	 Name:
	 	 Beth Axelrod

	 Title:
	 	 VP Employee Experiencee

 I have read and understood this offer letter and acknowledge, accept and agree to its terms and further acknowledge that no
other commitments were made to me as part of my employment offer except as specifically set forth herein. 
  

							
	 /s/ Aristotle Balogh
	  		 	Date Signed:	 	 10/15/2018

	 Aristotle Balogh
	  		 		 	

  
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 Exhibit A 

Airbnb Employee Invention Assignment and Confidentiality Agreement 

  
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 Exhibit B 

List of Other Agreements 
  

	1.	 Amended and Restated Bylaws 

 

	2.	 Airbnb’s Anti-Bribery & Corruption Policy, Global Harassment Discrimination &
Retaliation Policy 

  

	3.	 Global Information Security & Privacy Policy 

 

	4.	 Global User Information Access Policy 

 

	5.	 Airbnb’s Code of Ethics 

  
 -11-EX-10.22

 Exhibit 10.22 

 
 

 
 SEVERANCE AGREEMENT & RELEASE OF CLAIMS 

This Severance Agreement & Release of Claims (“Agreement”) is between Greg Greeley (“you”) and Airbnb, Inc., (“Airbnb”)
including Airbnb’s subsidiaries, successors, current and former directors, officers, agents, attorneys, and managers. You and Airbnb together are collectively referred to herein as “the Parties.” 

Your employment ended on August 1, 2020 (“Termination Date”). On the Termination Date, you were entitled to, among other things, payment of
earned (a) wages, (b) accrued, unused PTO, and (c) reasonable and necessary business expenses incurred during your employment, subject to Airbnb’s Travel and Expense policy regardless of whether your sign this Agreement (“Final
Pay”). 
 The parties have negotiated this Agreement, which if signed and not revoked by you, will provide benefits as described below. 

AGREEMENT 
 1.
Consideration. Provided that you have not exercised any revocation rights as detailed below, and in exchange for the general and specific release of claims described in this Agreement, as of the Effective Date (as defined below), and
contingent upon (a) your providing services throughout the Consulting Period as described in this Section; and (b) your execution of the general and specific release in this Agreement; Airbnb will provide you with the following
consideration: 
  

	 	a.	 Separation and Severance Rights: Subject to the conditions above and herein, following the Termination
Date, Airbnb will: 

  

	 	i.	 Payments. Airbnb will pay to you the amount of your current annual salary of $600,000.00, paid in a
single lump sum via direct deposit, within two payroll dates following the Effective Date, less any required taxes and any voluntary withholdings. 

  

	 	ii.	 COBRA. Airbnb will pay your COBRA premium directly to the insurance provider for up to twelve
(12) months from the Termination Date, if you are eligible and elect to continue your insurance coverage. 

  

	 	iii.	 2020 ACR Equity. Airbnb acknowledges that, as of the Termination Date, you have satisfied the time and
service-based vesting conditions of your equity awards (options and RSUs) to the extent set forth on the table in Schedule 1 attached hereto under the heading “Currently Vested Shares”, and will satisfy the time and service-based
conditions of your equity awards (options and RSUs) based on your services during the Consulting Period to the extent set forth on the table in Schedule 1 attached hereto under the heading “Shares Vesting During Consulting Period”
(collectively, “Your Awards”). As specific consideration for the non-compete agreement, Airbnb will recommend to the board that the vesting for your “Second Option” (as defined in your
Offer Letter with Airbnb, dated February 27, 2018) be amended to provide that 1/48th of the total number of Airbnb shares 

  
 1 

	 	
initially underlying the Second Option will vest and become exercisable on each monthly anniversary of March 12, 2020. For the avoidance of doubt, this means that 19,841 shares underlying
the Second Option will be vested and exercisable as of the Termination Date, and 4,960 shares (or 4,961 shares in the case of the period from October 12 to November 12) underlying the Second Option will vest and become exercisable monthly
during the Consulting Period, such that, if you do not otherwise terminate your continuous service through the end of the Consulting Period, your Second Option will become vested and exercisable in respect of 39,682 shares (i.e. the accumulated
monthly time vesting of the Second Option awards, with waiver of the cliff). All vested options, including those that vest during the Consulting Period and those that vest in exchange for the non-compete
agreement, will remain exercisable in accordance with Section 3.1(b) of the stock option agreement applicable to such options which is no later than the earliest to occur of (i) consummation of an Acquisition (as defined in 2018 Equity
Incentive Plan), (ii) the seven (7)-year anniversary of the end of the Consulting Period, and (iii) March 15, 2028. Airbnb hereby confirms that there are no call rights to purchase any of the shares underlying your options. No portion of
the RSUs that constitute Your Awards (i.e., those that have and will satisfy the Time and Service Based Requirement through the Termination Date and the Consulting Period) shall terminate based on your termination of services to Airbnb, and such
portion of your RSUs shall remain eligible to vest and settle in connection with the achievement of the Liquidity Event Requirement, as set forth in your applicable RSU Notice of Grant and the Plan. 

 

	 	b.	 Consulting Period. The Parties agreed, prior to your Termination Date that you would continue to provide
and be available to provide consulting services as described below following the Termination Date. In addition, the Parties agree that if you sign and do not revoke this Agreement, your “Consulting Period” will extend from August 1,
2020 and continue through November 26, 2020. 

  

	 	i.	 Following the Termination Date, you immediately transitioned to a consulting role beginning on August 1,
2020, with no break in service or leave provided to you. In this role, you will advise the Chief Executive Officer of Airbnb or his designee at their request. Among other duties, you will continue to (a) be available to assist in transition of
the Homes business, upon request; (b) be available to provide guidance on strategic business decisions affecting the Homes business, upon request; and (c) monitor the travel & accommodations industry on behalf of Airbnb and share
relevant updates on industry reopening, potential partnerships, and other ideas regarding opportunities that Airbnb may pursue within the industry. You agree to work in this consulting role approximately 1-2
days per month. You will maintain email access via an Airbnb .ext email address during the Consulting Period. 

  

	 	ii.	 Upon the expiration of the Consulting Period on November 27, 2020, it is within the sole discretion of you
and Airbnb to reach a separate agreement with respect to a continued advisory relationship and, if so, the terms and conditions of any such a continued advisory relationship, including any compensation therefore. By entering into this Agreement,
however, neither you, nor Airbnb, is making any representation or promise to enter into an additional agreement for advisory services, employment, or otherwise in the future. 

  
 2 

	 	iii.	 As consideration for you agreeing to provide the above services during the Consulting Period, you will be
deemed to continue to satisfy the time-based vesting conditions on any equity awards held by you in accordance with the vesting schedules applicable to such awards, as governed by any grant agreements, grant notices and applicable Airbnb equity
plans, during the Consulting Period, including satisfying the time-based vesting conditions of the Second Option per Section 1(a)(iii). In addition, the Parties agree that, by entering into this Agreement, the advisory services you perform
under this Agreement through November 26, 2020 will be considered “continuous services” for purposes of satisfying the time-based vesting conditions on any equity awards held by you in accordance with the vesting schedules applicable
to such awards, as governed by any grant agreements, grant notices and applicable Airbnb equity plans. On November 27, 2020, your equity that has not otherwise met time-based vesting conditions will be forfeited under the terms of the
applicable grant agreements, grant notices, and equity plan. 

 You agree that the payments and benefits set forth in this Section are all
that you will receive under this Agreement, and you will not seek any other compensation in connection with the matters covered by this Agreement, nor in any way stemming from your employment or separation from Airbnb. 

You further acknowledge that the payments and benefits described in Section 1(a) & (b)(i-iii) above,
represent payment and benefits above and beyond those to which you would be entitled if you did not enter this Agreement. 
 2. Equity. When your
employment with Airbnb ends, your rights concerning Your Awards will remain governed by the applicable grant agreements, grant notices and applicable Airbnb equity plans (collectively, the “Equity Governing Documents”), but subject to the
modifications set forth in this Agreement. 
 3. Tax Indemnification. Airbnb has offered no advice or promises about the tax consequences of your
equity awards (Section 2) or any Consideration provided under this Agreement. You agree to pay any required federal and state taxes stemming from the payments described herein. 

4. Effective Date. The “Effective Date” of this Agreement is 12:01 a.m. on the eighth (8th) calendar day after you sign. To avoid any doubt,
you have seven (7) calendar days from the date you sign to revoke your acceptance of this Agreement. 
 This Agreement is not effective or enforceable
until the revocation period expires. If you revoke this Agreement, you will not receive the Consideration described in Section 1 of this Agreement. 

  
 3 

 5. Non-Disclosure of Confidential and Proprietary
Information. You acknowledge that you are bound by the Employee Invention Assignment and Confidentiality Agreement, incorporated herein by reference, and which survives after your employment ends. You agree to keep confidential Airbnb’s
confidential and proprietary information. You will not directly or indirectly disclose or make it available to any third party, or use any confidential information, which includes, but is not limited to, trade secrets, patents, patent applications,
price decisions or determinations, inventions, customer lists, other proprietary information or other Airbnb intellectual property rights, until after the information has become publicly known other than by your disclosure. 

6. Defend Trade Secrets Act of 2016. This Federal law provides immunity in certain circumstances to Airbnb employees, contractors, and consultants for
limited disclosures of Airbnb trade secrets. Specifically, Airbnb employees, contractors, and consultants may disclose trade secrets: (a) in confidence, either directly or indirectly, to a Federal, State, or local government official, or to an
attorney, “solely for the purpose of reporting or investigating a suspected violation of law,” or (b) “in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal.” Additionally,
Airbnb employees, contractors, and consultants who file retaliation lawsuits for reporting a suspected violation of law may also use and disclose related Trade Secrets in the following manner: (c) the individual may disclose the trade secret to
their attorney, and (d) the individual may use the information in related court proceeding, as long as the individual files documents containing the trade secret under seal, and does not otherwise disclose the trade secret “except pursuant
to court order.” You shall not be held criminally or civilly liable under any Federal or State trade secret law for the disclosure of a Trade Secret that: (1) is made (a) in confidence to a Federal, State, or local government
official, either directly or indirectly, or to an attorney, and (b) solely for the purpose of reporting or investigating a suspected violation of law; or (2) is made in a complaint or other document filed in a lawsuit or other proceeding,
if such filing is made under seal. Disclosures to attorneys, made under seal, or pursuant to court order are also protected in certain circumstances under 18 U.S.C. 1833. 

7. Return of Airbnb Information and Property. You represent and promise that you will return to Airbnb by the Effective Date all of its property and
data knowingly held in your possession or control, (including, but not limited to, computer equipment, credit cards, badges, keys, mobile devices, external hard drives, Airbnb documents and other information or data, work product, and the passwords
necessary to access Airbnb work product, but excluding any items that Airbnb chooses not to recover). Airbnb property includes all originals plus hard copies and electronic versions of all documents, such as
e-mails, facsimiles, files, policies, letters, manuals, memoranda, power points, records and reports. 
 8.
Reserved. 
 9. General Release of Claims. In exchange for the Consideration (Section 1), you agree (except as otherwise provided in Civil
Code section 1542) to fully release Airbnb, its predecessors, successors, subsidiaries, parents, affiliates, and any other entity related to it, and each of their respective current or former directors, officers, investors, shareholders, employees,
attorneys, managers, assigns, insurers and/or other agents, and anyone else acting for any of them, in both their official and individual capacities (collectively “Releasees”), from all debts, claims, liabilities, demands, losses, and
causes of action of every kind, nature and description, known or unknown, suspected or unsuspected, and damages of every kind and nature which exist or can arise or arose out of your employment and/or termination of employment with Airbnb, or any
other matter, through and including the 

  
 4 

 Effective Date of this Agreement. This release includes, but is not limited to, any rights or claims arising
under the United States Constitution; California Constitution; Washington Constitution; federal, California, and Washington statutory and common law (including contract law, employment and tort law); the California Fair Employment and Housing Act;
the Washington Law Against Discrimination; the Age Discrimination in Employment Act (“ADEA”); Title VII of the Civil Rights Act of 1964; the Americans with Disabilities Act; federal and state Worker Adjustment and Retraining Notification
Acts; the California Labor Code, including but not limited to the California Private Attorneys General Act; California Wage Orders; the Washington Minimum Wage Act; the Washington Wage Rebate Act; the California Business and Professions Code; the
California Government Code; and any and all other federal, state and local laws, statutes, executive orders, regulations and common law; any claim for any loss, cost, damage, or expense arising out of any dispute over the non-withholding or other tax treatment of any of the proceeds received by you as a result of this Agreement; any and all claims for attorneys’ fees and costs; and any and all claims relating to, or arising
from, your right to purchase, or actual purchase of shares of Airbnb stock, including, without limitation, any claims for fraud, misrepresentation, breach of fiduciary duty, breach of duty under applicable state corporate law, and securities fraud
under any state or federal law, and all rights to participate in any class or collective action against Airbnb or any other Releasee under any federal, state or local law or any legal theory. The Parties agree that this is a compromise settlement of
all claims and therefore, it is not an admission of liability on the part of Airbnb. 
 Airbnb acknowledges that it is not aware of any claims it or any
third party may hold against you, or any liability that you may sustain, of any kind and nature which exists or could arise or arose out of your employment and/or termination of employment with Airbnb, or any other matter, through and including the
Effective Date of this Agreement. 
 10. Excluded from this release are any claims for breach of this Agreement, any claims arising following the date
hereof with respect to any equity interests or rights to equity interests you hold in Airbnb under the Equity Governing Documents, and any claims that cannot be waived by law, any rights to indemnification under Airbnb governance documents,
agreements or insurance policy, including any tail coverage period, indemnification rights afforded under state corporate law, and claims pursuant to this Agreement that arise after the date hereof. 

11. California Civil Code Section 1542 Waiver. You also agree and acknowledge that the release contained in Section 9 applies to all unknown
and unanticipated injuries and/or damages (as well as those now disclosed). Section 1542 of the California Civil Code provides: 
 A
general release does not extend to claims that the creditor or releasing party does not know or suspect to exist in his/her favor at the time of executing the release, and that, if known by him/her, would have materially affected his/her settlement
with the debtor or released party. 
 By signing this Agreement, you waive the provisions of Section 1542 and any similar state provisions. 

  
 5 

 12. Protected Rights. Sections 9 and 10 of this Agreement, as well as the Sections addressing your
confidentiality obligations, representations regarding pending or future lawsuits, non-disparagement, agreement to arbitrate, and any other limitation and/or waiver in this Agreement exclude: claims arising
after you sign this Agreement; claims for breach of this Agreement; and claims that cannot be waived, such as for unemployment or worker’s’ compensation. 

Neither the release sections of this Agreement, nor anything else in this Agreement limits, or is intended to limit, your right or ability to: (i) sue to
challenge this Agreement’s validity under the ADEA; (ii) file a complaint, charge, or claim of discrimination or other illegal conduct, with the National Labor Relations Board (NLRB), the Department of Labor (DOL), the Equal Employment
Opportunity Commission (EEOC), or any similar federal, state or local fair employment practices agency, including law enforcement agencies; communicate directly with or provide information (including testimony) to an agency, self-regulatory
authority, or state or federal regulatory authority, such as the Financial Industry Regulatory Authority (FINRA) or the U.S. Securities and Exchange Commission (SEC); or (iii) otherwise participate in an agency investigation or other
administrative proceeding; or testify in any forum or proceeding as required by law. You may specifically testify regarding sexual harassment or criminal conduct, whether (a) in court pursuant to a lawfully issued subpoena or court order, or
(b) before the state legislature at the legislature’s written request. If you reside or last worked for Airbnb in Illinois, nothing in this Agreement limits your rights to make truthful disclosures regarding allegedly unlawful employment
practices. Nothing in this Agreement limits your rights to make truthful disclosures or to have truthful discussions regarding employment-related sexual harassment or assault. You nonetheless give up all rights to any money or other individual
relief based on any agency or judicial decision, including class or collective actions or other rulings. However, you may receive money properly awarded by the SEC as a reward for providing information to that agency. 

Nothing in this Agreement may be interpreted as a waiver of your vested Airbnb benefits or as a waiver of your right to continue any benefit under the terms
of a benefit plan so long as you remain an eligible participant in such benefit plan. Likewise, nothing in this Agreement is meant to waive any right that is not subject to waiver by private agreement, including any right that you may have under
California Labor Code section 2802 to indemnification for expenses or losses you incurred performing your Airbnb duties. 
 13. Acknowledgement of Waiver
of Claims Under ADEA. You acknowledge that you are waiving and releasing your rights under the Age Discrimination in Employment Act of 1967 (“ADEA”) and that this waiver and release is knowing and voluntary. You and Airbnb agree that
this waiver and release does not apply to any rights or claims that may arise under the ADEA after the Effective Date. You acknowledge that the Consideration described in Section 1 of this Agreement is in addition to anything of value to which
you were already entitled. You also acknowledge that: 
  

	 	a.	 this Agreement includes the waiver and release of important legal rights, and to consult with an attorney
before signing it; 

  

	 	b.	 you have up to twenty-one (21) calendar days to consider this
Agreement once you receive it; 

  
 6 

	 	c.	 you have seven (7) calendar days after you sign to revoke this Agreement; 

 

	 	d.	 to revoke this Agreement, you must deliver to Q Hamirani’s attention at the address below or via e-mail to *** a written revocation before 12:00 a.m. (midnight) PST on the seventh calendar day following the date you sign the Agreement: 

Airbnb, Inc. 
 888 Brannan
Street, 3rd Floor 
 San Francisco, California 94103 

14. No Admission of Liability. Neither the terms of this Agreement, nor any payment under this Agreement, are to be interpreted as an admission of
liability or wrongdoing by Airbnb, or as Airbnb’s admission of a violation of your—or anyone else’s—rights, or a violation of an order, law, statute, duty or contract. Airbnb specifically denies it violated your rights or any
order, law, statute, duty or contract. Each Releasee (as defined in Section 9) denies all liability. 
 15. Confidentiality. You confirm that
you have not disclosed, and agree to maintain in confidence the existence of, contents and terms of this Agreement, and the Consideration, (collectively referred to as “Settlement Information”), unless otherwise required by law or allowed
under Section 11 above. You agree to take every reasonable precaution to prevent disclosure of any Settlement Information to third parties, unless such disclosure is allowed under Section 12 above, and agree that there will be no
publicity, directly or indirectly, concerning any Settlement Information, including but not limited to through the Internet or through social media such as Twitter, Facebook and the like. You agree to take every reasonable precaution to disclose
Settlement Information only to those attorneys, accountants, advisors, government entities, and family members who have a reasonable need to know. Each of them is bound by this confidentiality provision, and a disclosure by them is a disclosure by
you. You agree that, if asked, you shall state only that the matter has been amicably resolved. Nothing in this paragraph will prohibit you from providing truthful information in response to a binding subpoena or other legal process, provided that
if a subpoena or legal process requires you to produce or disclose Confidential Information or Settlement Information, you will first provide written notice to Airbnb, Inc. Attention: General Counsel (with email to ***) in sufficient time for Airbnb
to pursue (at its own expense) any right to protective or other relief. 
 16. Communications. The Parties agree that Airbnb retains the sole
discretion as to the content of any and all internal or external communications regarding your departure, or the rationale for your departure, made by Airbnb or by you, but that you will be afforded the opportunity to provide input on such
communications. You further agree you will not make verbal or written communications describing your departure, or the rationale for your departure, without Airbnb’s explicit approval. 

17. Non-Disparagement. You agree that you will not, directly or indirectly, disparage Airbnb, its products,
services, or its employees or directors, in any written or oral statement, whether communicated on the Internet via blog post, tweet, message board or other electronic means or through any other oral or written means or device. Airbnb agrees that it
will instruct its Executive Team (as defined below), and your successor not to directly or 

  
 7 

 indirectly, disparage you, or your service to Airbnb, in any written or oral statement, whether communicated
on the Internet via blog post, tweet, message board or other electronic means or through any other oral or written means or device. For purposes of this Section 17, the “Executive Team” consists of: Brian Chesky, Joe Gebbia, Nate
Blecharczyk, Dave Stephenson, Ari Balogh, Rich Baer, Tara Bunch, Greg Greeley, Catherine Powell, Alexandre Schleifer, Beth Axelrod, Hiroki Asai, Joebot Zadeh, Aisling Hassell, Christopher Lehane, Margaret Richardson and Melissa Thomas-Hunt. 

18. Non-Compete. For a period of 12 months from the Termination Date, you agree not to directly or indirectly,
without express written consent from Airbnb, (i) own, set up, control, manage, operate, participate in, engage or be involved in any business or business relationship with, be employed by, or provide any type of service to any business or
entity that is a Competing Business (including as principal, sole proprietor, partner, member, employee, independent contractor, consultant, advisor, officer, or director,) in the Business Area, (ii) induce or attempt to induce any existing
customer, supplier, independent contractor, consultant, vendor, joint venture, investor or other business relation of Airbnb or any of its Affiliates to provide business or services in a manner in which would reduce or cease doing business in whole
or in part with Airbnb, or (iii) interfere with any business relationship between Airbnb and any third party (including any customer, supplier, independent contractor, consultant, vendor, joint venture, investor or any other business
relationship). 
 “Business Area” shall mean any countries worldwide in which the Company or any of its Subsidiaries
directly or indirectly conducts the Company’s business as of the Termination Date. 
 “Competing Business” is defined
in Schedule 2. 
 19. Prospective Employer Inquiries; Mutual Press Release(s). All inquiries by your potential future employers will be directed to
the Talent Operations team at ***. In response to such inquiries, Airbnb will only state that it is company policy to provide potential employers with position held and dates of employment. The Parties agree that any announcement or press release
public statements regarding you shall be mutually agreed upon and subject to your prior written approval. 
 20. Future Cooperation. You agree to
cooperate with Airbnb in any current or future litigation or potential litigation or other legal matters, including any arbitrations or regulatory inquiries or investigations, in any reasonable manner as Airbnb may request, including but not limited
to meeting with and fully and truthfully answering the questions of Airbnb or its representatives or agents, and testifying and preparing to testify at any deposition or trial, subject to reimbursement for reasonable out of pocket expenses approved
by Airbnb and incurred as a result of such cooperation. You also agree to provide truthful and timely answers to any questions Airbnb may have about the work you performed during your employment. 

  
 8 

 21. Covenant Not to Sue. A “covenant not to sue” is a legal term which means you promise
not to file a lawsuit in court. It is different from the release of claims covered above in Sections 9 and 11. Besides waiving and releasing the claims set forth above, you further agree never to sue Airbnb in any forum for any reason or claim
covered by the release of claims in Sections 9 and 11. If you sue Airbnb in violation of this covenant, you shall be liable to Airbnb for its reasonable attorneys’ fees and other costs incurred in defending against such an action.
Notwithstanding this covenant not to sue, you may bring a claim against Airbnb if the claim is excluded from the releases herein, or to challenge this Agreement’s validity under the ADEA. Airbnb agrees never to sue you in any forum for any
reason or claim that would fall within its acknowledgement contained in Section 9. 
 22. Legal Costs. The Parties are each responsible for
their own attorneys’ fees and any other costs that the Parties may incur in connection with this Agreement, including review of this Agreement 
 23.
Authority. The Airbnb official who signs this Agreement has the authority to act on behalf of Airbnb and to bind the company to the terms and conditions of this Agreement. You represent that you have the capacity to act on your own behalf,
and to bind yourself to the terms and conditions of this Agreement. There are no liens, lien claims, or assignments against any of the claims or causes of action you are releasing. You have not transferred any rights, causes of action, or claims
released in this Agreement. 
 24. No Representations. You acknowledge you have had the opportunity to consult with an attorney, and have carefully
read and understand the provisions of this Agreement. You have not relied on any representations or statements that are not specifically stated in this Agreement. 

25. Severability. If any provision of this Agreement is declared by a court with jurisdiction or an arbitrator to be illegal, unenforceable or void,
that part shall be modified and the rest enforced. If a court (or an arbitrator) finds any such part incapable of being modified, it shall be severed and the rest of the Agreement enforced. 

26. Entire Agreement. This Agreement, collectively with the Employee Invention Assignment and Confidentiality Agreement incorporated by reference in
Section 5, and the Equity Governing Documents (as may be affected by this Agreement), is the entire agreement and understanding between the Parties concerning its subject matter, and it replaces and controls to the extent of any conflicts in
all prior representations, understandings, and agreements on this subject matter. Any change or additional obligation assumed in connection with this Agreement will be effective only if it is in writing and signed by authorized representatives of
both Parties. Nothing in this Agreement may be changed, altered, modified, or waived except in a writing that is signed by authorized representatives of the Parties. 

27. Final and Binding. This Agreement is binding on the Parties and their heirs, administrators, representatives, executors, successors, and assigns,
and will benefit the Parties and their heirs, administrators, representatives, executors, successors, and assigns. 
 28. Plain Meaning. This
Agreement will be interpreted according to its plain meaning, and not strictly for or against you or Airbnb. 

  
 9 

 29. No Waiver. Your or Airbnb’s failure to insist on performance of any terms in this Agreement,
or failure to prosecute a breach of the Agreement, will not be considered a waiver of those terms and conditions. This entire agreement will remain in full force and effect. 

30. No Oral Modification. Any change or additional obligation assumed in connection with this Agreement will be effective only if it is in writing and
signed by both Parties or their authorized representatives. Nothing in this Agreement may be changed, altered, modified, or waived except in a writing that is signed by both of the Parties. 

31. Governing Law. This Agreement has been signed and delivered in the State of Washington, your state of residence, and it will be interpreted and
enforced under Washington law, without regard to conflict of law principles. Any disputes arising out of this Agreement that are not resolved subject to binding arbitration shall hereby irrevocably and unconditionally submitted to the exclusive
jurisdiction of any Washington State court or federal courts of the United States of America sitting in the Western District of Washington, and any appellate court from any such court, in any action or proceeding arising out of or relating to this
Agreement or the transactions contemplated hereby or for recognition or enforcement of any judgment relating thereto, and each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such action or
proceeding may be heard and determined in such Washington State court or, to the extent permitted by law, in such federal court. Each of the parties hereto agrees that a final judgment in any such action or proceeding shall be conclusive and may be
enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. 
 32. Arbitration. The Parties agree that any
dispute that arises out of or concerns this Agreement, including the confidentiality provisions and this Section, will be submitted exclusively to final and binding arbitration before a mutually agreed upon arbitrator under the Federal Arbitration
Act (“FAA”), 9 U.S.C. §1, et seq. The arbitration will be resolved by JAMS under the JAMS Employment Arbitration Rules and Procedures (the “JAMS Rules”). The arbitrator will be empowered to award any appropriate relief,
including remedies at law, in equity or injunctive relief. The arbitration will be held in Seattle, Washington, and the arbitrator will issue a reasoned written decision stating the factual and legal basis for the award. The Parties agree that this
arbitration will be the only method of resolving any dispute under this Agreement, and that neither may file an action in any court or other forum. Both Parties waive their right to a jury trial. A Party must notify the other party of any dispute in
writing within thirty (30) days of when the Party knew or should have known of the dispute. Otherwise, the Party’s claim will be waived to the maximum extent allowed by law. Each party will pay the fees for their own attorney(s), subject
to any remedies to which that Party may later be entitled by law or as provided in this Agreement. However, Airbnb will pay the arbitrator’s fees and the arbitration costs in all cases where it is required by law to do so. If Airbnb is not
required by law to pay the arbitrator’s fees and the arbitration costs, the fees and costs will be apportioned equally between the Parties. The Parties agree that judgment on any award in arbitration will be enforceable in any court with
competent jurisdiction. This clause will not prohibit either Party from seeking provisional remedies, e.g., injunctive relief, from the exclusive jurisdiction of any Washington State court or federal courts of the United States of America sitting in
the Western District of Washington. 

  
 10 

 33. Attorneys’ Fees. Except as otherwise provided in this Agreement, if either Party brings an
action to enforce its rights under this Agreement, the successful party will be entitled to recover its costs and expenses, including the costs of mediation, arbitration, litigation, and court fees, plus reasonable attorneys’ fees, incurred in
connection with such an action. 
 34. Electronic Signature/Transmission. You acknowledge and agree that this Agreement may be executed by electronic
signature, including but not limited to signature by DocuSign or similar service, which shall have the same legal validity and enforceability as a manually executed signature or use of a paper-based recordkeeping system to the fullest extent
permitted by applicable law. You hereby waive any objection to the contrary. You understand and agree that without limitation, “electronic signature” shall include electronically scanned and transmitted versions of a signature, including
but not limited to PDF versions. The Parties further agree that signatures may be delivered by facsimile or electronically and each such signature will be deemed an original. 

35. Counterparts. This Agreement may be signed in counterparts, and each counterpart will have the same effect as an original. 

36. Voluntary Execution of Agreement. You are signing this Agreement voluntarily and without threat or inappropriate influence by Airbnb, with the full
intent of releasing all claims. You acknowledge that: 
  

	 	a.	 you have read the Agreement; 

 

	 	b.	 you have been represented by legal counsel of your choice or have voluntarily declined to hire an attorney to
represent you; 

  

	 	c.	 you understand the terms and consequences of this Agreement and of the releases it contains;

  

	 	d.	 you are fully aware of the legal and binding effect of this Agreement; and 

 

	 	e.	 this Agreement is a negotiated severance agreement because it is voluntary, deliberate, and informed, provides
consideration of value to you, and you have been given notice and an opportunity to retain an attorney and are represented by an attorney and have in fact sought counsel on all terms of this Agreement. 

[Signature page follows] 

  
 11 

 The Parties have signed this Agreement on the dates below. 

 

							
		 		 	 AIRBNB, INC.

				
	Dated: 9/9/2020	 		 	By:	 	/s/ Q Hamirani
		 		 		 	 Q Hamirani

		 		 		 	 Director, Global Talent Operations

			
		 		 	 GREG GREELEY

				
	Dated:9/9/2020	 		 	By:	 	/s/ Greg Greeley
		 		 		 	 Greg Greeley

  
 12 

 SCHEDULE 1 

Summary of Vested Equity and Equity which could Vest 

  
 13 

 Options 

 

																	
	 Option Grant
Date
	 	 Option

Number
	 	 Original Grant
Amount
	 	 Grant Price
	 	 First Options
Date Vested
	 	First Options
Vesting
Schedule	 	 	 Second

Options
 Vesting

Schedule*
	 	 Second

Options Date
Vested

	 3/15/18
	 	N0000113	 	238,095	 	$105.40	 	3/12/20	 	 	59,523	 	 		 	
	 3/15/18
	 	N0000113	 	238,095	 	$105.40	 	4/12/20	 	 	4,961	* 	 		 	
	 3/15/18
	 	N0000113	 	238,095	 	$105.40	 	5/12/20	 	 	4,960	* 	 		 	
	 3/15/18
	 	N0000113	 	238,095	 	$105.40	 	6/12/20	 	 	4,960	* 	 		 	
	 3/15/18
	 	N0000113	 	238,095	 	$105.40	 	7/12/20	 	 	4,961	* 	 		 	
	 3/15/18
	 	N0000113	 	238,095	 	$105.40	 	8/12/20	 	 	4,960	* 	 		 	
	 3/15/18
	 	N0000113	 	238,095	 	$105.40	 	9/12/20	 	 	4,960	* 	 		 	
	 3/15/18
	 	N0000113	 	238,095	 	$105.40	 	10/12/20	 	 	4,960	* 	 		 	
	 3/15/18
	 	N0000113	 	238,095	 	$105.40	 	11/12/20	 	 	4,961	* 	 		 	
	 3/15/18
	 	N0000114	 	238,095	 	$105.40	 		 				 	39,682	 	11/26/20
	 Totals
	 		 		 		 		 	 	99,206	 	 	39,682	 	

  

	*	 calculated at 4,960 per month (6 year schedule from 3/18, with vesting commencing 3/20 with first vesting date
at 4/20 for the next 4 years) 

 RSUs 
  

															
	 RSU Grant

Date
	 	 RSU Grant
Number
	 	 Original Grant
Amount
	 	 RSU Price
	 	 RSUs Vested #
	 	 Date Time

and Service
Vested**
	 	 RSUs Vesting#
	 	 Date to

Further Time
 and
Service
Vest**

	 3/15/18
	 	R0013328	 	238,095	 	$0.00	 	59,523	 	5/25/19	 		 	
	 3/15/18
	 	R0013328	 	238,095	 	$0.00	 	14,881	 	8/25/19	 		 	
	 3/15/18
	 	R0013328	 	238,095	 	$0.00	 	14,881	 	11/25/19	 		 	
	 3/15/18
	 	R0013328	 	238,095	 	$0.00	 	14,881	 	2/25/20	 		 	
	 3/15/18
	 	R0013328	 	238,095	 	$0.00	 	14,881	 	5/25/20	 		 	
	 3/15/18
	 	R0013328	 	238,095	 	$0.00	 		 		 	14,881	 	8/25/20
	 3/15/18
	 	R0013328	 	238,095	 	$0.00	 		 		 	14,881	 	11/25/20
	 Totals
	 		 		 		 	119,047	 		 	29,762	 	

  

	**	 Still subject to Liquidity Event Vest 

	#	 vesting @ 25% at first year anniversary, with balance over remaining 12 quarters at 1/16th of total award per
quarter 

 9/29/42 

 Schedule 2: 

*** 

  
 14

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