Document:

Int Temp Expatriate Assignment Policy , February 22, 2010 for Joshua Silverman

 Exhibit 10.34 

 

 

 INTERNATIONAL TEMPORARY EXPATRIATE 

ASSIGNMENT POLICY 
 Long Term Assignment (LTA) 
 Employee: Joshua Silverman 

					
	 INTERNATIONAL LONG TERM ASSIGNMENT POLICY (LTA)
	  	 	3	  
	 Eligibility/Administration
	  	 	3	  
	 Duration
	  	 	3	  
	 Commencement/Start Date
	  	 	3	  
	 Country of Reference (“Home Country”)
	  	 	3	  
	 Objectives
	  	 	3	  
	 1. COMPENSATION AND BENEFITS OVERVIEW
	  	 	4	  
	 1.0 Base Salary
	  	 	4	  
	 1.1 Incentives
	  	 	4	  
	 1.2 Long-Term Benefits
	  	 	4	  
	 1.3 Health Care
	  	 	5	  
	 1.4 Business Travel Accident Insurance
	  	 	5	  
	 1.5 Emergency Leave
	  	 	5	  
	 1.6 Annual Leave/ Paid Time Off
	  	 	5	  
	 1.7 Home Leave
	  	 	5	  
	 1.8 Holidays
	  	 	6	  
	 1.9 Sick Leave & Disability
	  	 	6	  
	 1.10 Working Hours
	  	 	6	  
	 2. ON-GOING ALLOWANCES AND REIMBURSEMENTS
	  	 	6	  
	 2.1 Cost of Living Allowance (COLA)
	  	 	6	  
	 2.2 Transportation Allowance
	  	 	7	  
	 2.3 Host Country Housing
	  	 	7	  
	 (i) Changes in housing
	  	 	8	  
	 (ii) Host Housing Owned by IA
	  	 	8	  
	 2.4 Dependent Education Reimbursement
	  	 	9	  
	 3. REPATRIATION
	  	 	9	  
	 3.1 End of Assignment Assistance
	  	 	9	  
	 3.2 Pre-Departure Details and Arrangements
	  	 	9	  
	 3.3 Air Travel
	  	 	9	  
	 3.4 Shipment of Personal Effects, Household Goods and Furniture
	  	 	9	  
	 3.5 Pet Transport
	  	 	10	  
	 3.6 Temporary Accommodations
	  	 	11	  
	 4. TERMINATION
	  	 	11	  
	 4.1 Involuntary Termination
	  	 	11	  
	 4.2 Voluntary Termination
	  	 	11	  
	 5. TAXES
	  	 	11	  
	 5.1 Treatment of Stock Options
	  	 	11	  
	 6. CONFIDENTIALITY CLAUSE
	  	 	12	  
	 7. EMPLOYEE SIGNATURE
	  	 	12	  

 INTERNATIONAL LONG TERM ASSIGNMENT POLICY (LTA) 

Eligibility/Administration 
 This policy
relates to the assignment of middle to senior level employees with specialized technical knowledge or management expertise, and assumes a temporary assignment to a host location for a period of one to five years and an intention to return to the
home country at the end of the assignment. This policy applies to employees relocating from their home country to temporarily live and work in a host country. 
 The assignment will generally be initiated by Skype to fill a strategic position with the most qualified employee available, when the necessary skills are not available in the host country. Qualifying
dependents typically accompany the international assignee (IA). 
 For the purposes of these policies, qualifying dependents include the
IA’s spouse or domestic partner, and children up through secondary level of education (including step-children, adopted children, children of a same-sex domestic partner). Disabled adult children or dependent parents unable to support
themselves will also be covered. 
 The Human Resources Team will be responsible for administering the program. 

Duration 
 Assignments will generally be
for a period of one to five years. At the end of the assignment, the IA and qualifying dependents will, under normal circumstances, be repatriated to their home country. 
 Commencement/Start Date 
 The assignment is contingent upon your obtaining the appropriate
work permit or visa. Your assignment cannot commence, nor should you begin to relocate, until you have obtained all the required approvals to work in the new host location. 
 The official start date of the assignment will be the later of: 
  

	•	 	 the effective date of the work permit 

  

	•	 	 the effective date of any other legally required documents such as a social insurance number 

 

	•	 	 the physical date of entry into the host location 

 Country of Reference (“Home Country”) 
 The IA’s country of reference will be
the IA’s country of employment with Skype prior to the assignment (hereinafter referred to as the “home country”). Allowances under this policy, which may be tied to the IA’s home country as a point of comparison, will be based
upon cost data relating to the IA’s host location. 
 Objectives 
 The Skype Long Term Assignment Policy is based upon two fundamental principles: 
  

	1.	 The “Balance Sheet” approach has been adopted to compensate IA’s on assignment, to protect them against additional costs
incurred, and to ensure that they maintain a living standard broadly comparable to that enjoyed by their peers in the host country at the same job 

	 	 
level and family size. Application of this approach is intended to be reasonable and fair. Exact replication of a home country standard will not occur. This approach is indicative of the
“no gain, no loss” philosophy inherent in this policy, whereby IA’s are generally protected against financial loss due to higher costs (including higher income taxes) overseas, yet are not enriched when overseas costs are lower.

  

	2.	“Full Compliance” – Skype IA’s have an obligation and responsibility to uphold the reputation of Skype , by properly and fully complying with
all home and host country legal and tax requirements, as a condition of employment. 

 1. COMPENSATION AND BENEFITS OVERVIEW

 The International Long Term Assignment Policy is comprised of salary, applicable bonuses and certain allowances as described below,
including goods and services, and tax equalization. Employees on international assignment will continue to be employees of their home country. It is Skype’s intention to provide a compensation and benefits package that fairly compensates the IA
during the international assignment. It is not Skype’s intention for the IA to realize a significant financial windfall as a result of the international assignment. 
 Payment of the compensation elements will normally be made by the home country payroll. In some cases, due to the responsibilities of the position, it may be necessary to place the employee on the host
country payroll as an employee of the host country. In those instances, the assignment will still qualify under this policy. 
 1.0 Base
Salary 
 Base salary will be administered and paid according to the salary program in effect in the IA’s home country, and the salary
level will be determined according to the base salary paid for the IA’s position and level in the home country. Assumption of new and/or additional responsibilities in the host location may be reflected in a base salary adjustment. Salary
actions, including guidelines for timing and amounts of increases will be consistent with the salary program in effect in the home country. 

The IA will be paid base salary payments (net of various withholdings) from the home country payroll and expressed in home country currency. Banking fees
and wire transfer charges will be paid by Skype . Performance reviews will be managed from the home country with input from host country management. 
 1.1 Incentives 
 While on international assignment, bonus and commission payments, if
applicable, will be administered and paid according to the incentive programs pertaining to the home country position, based on performance goals relating to the international assignment. 
 1.2 Long-Term Benefits 
 Home country life insurance, retirement plans and disability
coverage will continue while on assignment. Wherever feasible and cost-effective, home country social security coverage will be maintained, along with exemption from host country coverage under Totalization Agreements (if

 
applicable) or other similar arrangements. If continuation of home country benefits is not permitted, alternative arrangements will be made. IA’s will continue to be responsible for their
home country social tax payments, with tax equalization provided by Skype as agreed (see Tax Equalization Policy). 
 1.3 Health Care

 A pre-move medical examination may be required, as will immunizations, depending on the requirements of the host country, immigration
regulations, and any other countries visited on business. Home country health care benefits will not be available for assignments longer than six months. In cases where the home country benefits are not available, an out of area global health care
plan will be made available. US health care benefits will be extended to IA’s and qualifying dependents on assignment to the US. 
 1.4
Business Travel Accident Insurance 
 The IA will be insured against loss of life while traveling on Skype business, including authorized
stopovers. Daily travel to and from work, in the home or host country, is not covered. 
 1.5 Emergency Leave 

In the event that an IA or qualifying dependent requires medical care that is not adequately available locally, Skype will either cover the costs through
one of its insurance policies or reimburse the IA for the person’s round trip economy class air fare to the nearest city where such medical care is available. If the qualifying dependent requiring medical care is a minor, or cannot in any event
travel unaccompanied, Skype will also reimburse the IA for one round trip economy class air fare of an adult (generally the IA or spouse/domestic partner) who accompanies the qualifying dependent. 

The IA must request permission in advance of treatment, in order for reimbursement to be approved. The request should state the nature of the treatment
to be sought, why the IA believes adequate care is not locally available, and where he/she intends to seek such treatment. Trips of the above nature will not be considered as part of, or replacement for, normal home leave or earned vacation.

 A five-day emergency leave can also be arranged to permit the IA and qualifying dependents to return to the home country in the event of a
death of an immediate family member of the IA. For the purposes of this policy, immediate family includes the IA’s spouse, domestic partner, children, parents, grandparents, siblings, in-laws and guardians. 

1.6 Annual Leave/ Paid Time Off 
 While
on international assignment, the IA will remain on the home PTO/vacation policy. PTO should be requested using the home country PTO process utilizing the home country payroll. It is the responsibility of the IA to accurately record PTO time as there
will be occasional audits. 
 1.7 Home Leave 
 The IA and all qualifying dependents are eligible to travel home to the point of origin once every twelve months. Home Leave is to be used in conjunction with annual vacation/paid time off. The home leave
must be to the place of origin and vacation to other destinations will not qualify. 

 
The home leave benefit provides for business class airfare , additional expenses such as lodging, meals, and taxis are not covered by Skype . 

Skype will only reimburse for the cost of trips to the pre-defined “home” destination. Home trips cannot be exchanged for any other location or
cash allowance. If the IA does not take home leave in a given year, the home leave reimbursement is forfeited. 
 In circumstances when the
family will not accompany the employee on the assignment, additional home leave may be provided. In this case, host country housing will be provided to accommodate the IA only. 
 1.8 Holidays 
 The IA will be eligible for public holidays observed at the host location.
The IA will waive public holidays of the home country. 
 1.9 Sick Leave & Disability 

The IA will be eligible for short-term disability and sick leave under the home country’s policy. Long-term disability will be provided under the
home country’s policy. 
 1.10 Working Hours 
 The IA will be expected to observe working hours customary in the host location. 
 2. ON-GOING
ALLOWANCES AND REIMBURSEMENTS 
 Skype has adopted a “Balance Sheet” approach to ensure that assignees can maintain a purchasing
power comparable to that which they would have enjoyed in their home country. Consistent with this approach, IA’s may be entitled to certain allowances or reimbursements to cover additional costs incurred as the result of an international long
term assignment. 
 Allowances will not be included in calculations for incentives, retirement plan and other IA benefits, except when
specifically required by local law. All allowances are discontinued automatically when the IA’s assignment concludes, or when the IA terminates employment with Skype . In the case of a new assignment to another host country, allowances will be
recalculated to reflect the new country of assignment. Should the IA and the company decide to convert the assignment to a permanent position in the host location (localization) allowances will be determined under the policy for permanent
relocations. In most cases this will mean the cessation of most of the expatriate allowances such as housing, COLA, and, as applicable, tax equalization and tax preparation assistance. 
 Occasionally, individuals currently employed with other companies under previously existing expatriate contracts may be considered for employment opportunities at Skype . Skype will determine whether the
individual should be considered an expatriate under Skype policy or a local hire. In either case, the terms and conditions under the previous contract will not be assumed by Skype . 
 2.1 Cost of Living Allowance (COLA) 

 The Cost of Living Allowance (COLA) is designed to normalize the home country salary to the cost of goods
and services in the host country. The COLA adjustment is designed to address three major economic issues: different relative costs in the home and host countries, inflation rates in the two countries, and fluctuations in the currency exchange rates.

 Tables prepared and published by an outside survey organization will be used as the basis for determining the IA’s COLA, which is
determined by home and host city location, base salary and family size. 
 The COLA will commence when the IA resides in permanent housing and
is no longer eligible for temporary housing and per diem allowances. Skype will update the COLA for changes in the IA’s base salary or family size. The COLA will be paid monthly and reviewed quarterly (Jan 1, Apr 1, Jul 1, Oct 1) and adjusted
for fluctuations greater than 5%. 
 The COLA may decrease as well as increase when adjusted. 

Skype will pay a COLA in the amount of USD 6,000 per month, payable in accordance with the Company’s customary payroll policies in force at the
time of payment, 
 2.2 Transportation Allowance 
 Skype will provide an allowance for reasonable transportation needs up to USD 1,000/month, payable in accordance with the Company’s customary payroll policies in force at the time of payment, will be
provided. It is intended that the employee will bear normal commute costs. This assistance will be in the form of a cash allowance. 
 2.3
Host country housing 
 Skype HR in conjunction with the CEO will determine, based on cost and tax considerations, whether the IA will
live in housing already leased by Skype , or be permitted to seek housing subject to the guidelines of this policy, as described below. The personal relocation consultant will be directly involved in all discussions relating to leases. 

Skype Global Mobility in conjunction with the personal relocation consultant will engage a local relocation service to find suitable permanent
housing. Relocation or agent fees, if incurred, will be negotiated and paid by the personal relocation consultant 
 Although the IA will
normally be expected to sign the lease, the personal relocation consultant will negotiate the lease terms; make any advance rent payments, and deposits and will collect refundable deposits upon lease termination. 

Regardless of the legal form of the housing arrangements, the IA is responsible for all damages to housing that he/she occupies (excluding normal wear
and tear). The IA must carefully inspect the housing accommodations before taking and relinquishing possession, and must obtain a document listing any damages, signed by lessor and lessee. 
 The personal relocation consultant will provide a housing allowance of EUR12,000 each month designed to cover the host country housing costs. In addition, USD 200(per month will be provided towards to
cost of utilities. Any associated refundable deposits shall be refundable to the Company. The assignee will pay all home country housing and management costs. If no home housing costs are incurred, then the Company will deduct a “housing
norm”. It is the intent of the 

 
Company to keep the employee “whole” or “neutral” by bearing excess housing costs. It is not the intention to provide rent-free living during the assignment.

 The method of payment will consider host country tax rules, as well as aim to insulate the IA from the effect of exchange rate fluctuations.
For example, Skype may lease the housing directly, if doing so reduces host country taxes, compared to payment of a cash housing allowance. 

Housing assistance will commence when the IA is in permanent housing, and is no longer receiving temporary housing assistance. 

It is Skype’s aim to offer moderate accommodation that is commensurate with standards typical for local employees at a similar grade level. It is
not Skype’s intent to maintain the same standard of living as was experienced in the home location. Tables prepared and published by an outside survey organization will be used as the basis for determining the IA’s housing allowance. A
reasonable and fair approach to housing based on all the facts and circumstances will be followed. For this purpose, housing assistance includes rent, property and /or occupancy taxes, furniture rental and security. Domestic help is not included.

 It is expected that the IA will locate housing within reasonable commuting distance of Skype’s local office. In any market, there is a
wide variation in such factors as number of rooms, total floor space, amenities, location, and rent level. 
 The process of determining the
actual housing expenditures will consider: 
  

	•	 	 The amount of the base salary paid and the job level of the IA. 

 

	•	 	 The typical housing standard available, based on local conditions. 

 

	•	 	 The requirements for housing size and amenities, in light of the IA’s family size and requirements 

 

	•	 	 The location of housing, with a view to reasonable commuting distance to Skype’s offices (15-45 minutes). 

Rental limits will be set according to two criteria: 
  

	1.	Published housing tables: These tables reflect actual survey data in the local housing market, and show the average actual rent and utilities under existing
leases as a function of base salary and family size. 

  

	2.	An approved expenditure limit: A limit falling within the price range of comparable current available rentals, as determined by real estate consultants and by
Skype , will be set. Amounts within 5% of the published tables will be deemed reasonable. 

  

	(i)	Changes in housing 

 Once permanent
housing is provided, any changes in housing must first be approved by Global Mobility. The moving of household goods will be provided for, or reasonable costs reimbursed for, if there is an approved change of housing location. 

 

	(ii)	Host Housing Owned by IA 

 Skype strongly discourages IA’s from purchasing a home in the host country. No housing purchase
assistance is provided by Skype . 
 2.4 Dependent Education Reimbursement 
 Skype policy requires local schools to be utilized where possible. If the quality of the schooling is not comparable to the home country, or there is a language the personal relocation consultant may
provide reimbursement for tuition, registration, textbooks and uniforms. Reimbursement is provided for each qualifying dependent child up through 12th grade of schooling at the appropriate alternative school. Education reimbursement starts once a
child reaches age 3 and is enrolled in a school with a course of instruction. Day care and nanny costs are not reimbursable. Skype will reimburse for those costs in excess of the typical home country educational costs, as in housing. 

3. REPATRIATION 
 3.1 End of
Assignment Assistance 
 Unless the IA voluntarily terminates employment during the assignment, Skype will provide relocation assistance upon
repatriation, and will cover many of the expenses associated with the move back to the point of origin at the conclusion of the assignment. A personal relocation consultant will be provided by Skype’s designated relocation company engaged to
assist in the relocation. 
 3.2 Pre-Departure Details and Arrangements 
 Prior to departure, the returning IA is responsible for meeting or speaking with the personal relocation consultant to arrange all aspects of the move. Under no circumstances is the IA to begin contacting
other parties and making arrangements on his/her own behalf without prior consultation with the personal relocation consultant or the Global Mobility team. 
 3.3 Air Travel 
 At the conclusion of the assignment, Skype will pay for one-way,
(businessclass) direct route (where possible) air transportation to the point of origin for the IA and qualifying dependents. 
 Other
reasonable incidental expenses relating to travel (e.g., baggage handling, gratuities, taxis, etc.) may be submitted for reimbursement to the personal relocation consultant. 
 3.4 Shipment of Personal Effects, Household Goods and Furniture 
 The personal relocation
consultant will arrange for the shipment of household goods. All household goods will be moved through the shipping company selected by Skype . International customs regulations will be observed for all moves. 

Skype will pay for professional packing, surface shipping, delivery, uncrating, unpacking, in-transit storage, if necessary, applicable moving insurance
and import duties for the shipment of personal effects and furniture. 
 The IA is expected to use discretion concerning the moving of personal
possessions. Skype will assume no cost or responsibility for shipment of items of unusual value or which require special 

 
handling, such as antiques, special collections, heirlooms, fine china, jewelry, wine and other liquors or other such items. 
 Air: The IA is authorized for an air shipment of up to 500 pounds per person up to a maximum of 1,000 pounds per family. 
 Surface/Sea Shipment: Skype will pay for the shipment by land or sea of one 40 foot container for the family. 
 Protection is not provided against normal wear and tear or malfunction of electronic items and appliances whether due to varying voltage requirements or any other reason. Watches, jewelry, precious
stones, money, documents, coin collections, furs and other high value personal items are not covered. The IA should arrange to store or transport and insure these items on his/her own. These items should not be shipped with household goods.

 The IA or his/her spouse or domestic partner should be present during packing, loading and unloading of household goods, and must carefully
review the inventory list prior to signing. The IA is encouraged to be very detailed in the preparation of the inventory list, and should consider taking photographs of shipped items as it will be to his/her advantage in case of a claim for loss or
damage. A detailed inventory list will enable the IA to realize maximum results from an insurance claim. Consider videotaping larger items. 

The IA must file all insurance claims within 90 days of the date of delivery to the new residence in the event that an item is lost or damaged during the
move. The IA must contact the personal relocation consultant immediately. They will provide the IA with the necessary forms and instructions for filing a claim. THE PERSONAL RELOCATION CONSULTANT MUST RECEIVE A WRITTEN CLAIM FORM TO BE ABLE TO
SETTLE THE CLAIM. 
 Items Restricted from Household Goods Shipment: The IA must adhere to international and other applicable
shipping regulations and restrictions. Skype will not provide reimbursement for any costs associated with delays in customs or additional customs charges that are related to inclusion of the following items: 

 

	 	•	 	 Items that are subject to import restrictions and/or excessive shipping costs 

 

	 	•	 	 Automobiles or recreational vehicles 

  

	 	•	 	 Bulky or unusually heavy sports/hobby equipment (i.e. motorcycles, snowmobiles, trailers, boats, aircraft, pianos, pool tables, etc.)

  

	 	•	 	 Explosives, flammable or hazardous materials/chemicals 

 

	 	•	 	 Weapons, firearms or ammunition 

  

	 	•	 	 Expendable household provisions (i.e. fertilizers, detergents, paints, oil, firewood, live plants, construction material, lumber, containers of
fluid/liquids, containers of food or frozen foods) 

  

	 	•	 	 Alcoholic beverages 

  

	 	•	 	 Tool/storage sheds 

  

	 	•	 	 Dog houses, play houses, playground equipment, hot tubs 

 

	 	•	 	 Livestock/pets 

  

	 	•	 	 Farm tractors/ equipment 

  

	 	•	 	 Satellite dish antenna 

  

	 	•	 	 Jewelry, antiques, works of art, coin or stamp collections, currency, credit cards, securities, personal documents, precious stones and metals and
other items of high value 

 3.5 Pet Transport 
 Skype will pay for the travel and carrying case of two household pets. The pet(s) must be transported on the same airline flight the employee is traveling. The employee will be responsible for delivery of
the pet(s) to and from the airport. Expenses such as immunizations, certification, kennel expenses, pet deposits in temporary housing and food will be the employee’s responsibility. 
 3.6 Temporary Accommodations 
 Prior to departure: Subject to advance approval, Skype
will pay for approved hotel or other accommodations for the IA and qualifying dependents for up to seven days in the host country prior to departure back to the point of origin. 
 Arrival in home country: If the IA is unable to immediately reoccupy his/her home country residence upon repatriation, Skype will pay for approved temporary lodging not to exceed 30 days.

 4. TERMINATION 
 4.1
Involuntary Termination 
 Skype will pay repatriation back to the home country in the event of involuntary termination due to Reduction in
Force or other terminations not for cause. Skype will pay moving expenses back to the home country per section 3, provided such expenses are incurred within 30 days of termination. In the event of termination for cause, Skype will not pay for any
repatriation expenses, including travel or moving expenses back to the home country. 
 4.3 Voluntary Termination 

In the event that an IA terminates service prior to assignment completion, no repatriation expenses will be provided, including travel or moving expenses
back to the home country, unless legally required.  
 5. TAXES 
 Skype will not tax equalize the impact of any taxes related to the Assignment other than tax equalization of any tax burden on Assignment allowances during the Assignment period. 

Skype has retained an independent tax accounting firm to provide assistance with the preparation of both home and host country income tax returns. The IA
is required to use the company designated tax provider during the period covered by the tax equalization policy. The IA should contact the firm as soon as possible to arrange a pre-departure tax meeting and to arrange a post-arrival meeting in the
host location. 
 5.1 Treatment of Stock Options 

 Skype will not be providing tax equalization from exercising Skype stock options. With
respect to the exercise of Skype stock options, it is to your benefit to notify E&Y as soon as possible to determine any tax liability that may arise. The purpose of this requirement is to ensure that you have a full understanding of the
potential foreign tax liability that may arise. 
 6. CONFIDENTIALITY CLAUSE 
 This agreement shall be held in strictest confidence. Any disclosure of this agreement by you to anyone outside of the Human Resources or Tax departments could void all or part of the terms and conditions
of this agreement. 
 7. EMPLOYEE SIGNATURE 
 I have read and understand the International Temporary Expatriate Assignment Policy, Long Term Assignment (LTA) and fully agree to the terms and conditions above. 

 

							
	By:	 	 /S/ JOSHUA SILVERMAN
	 		 	2/22/10        
	Name:	 	Joshua Silverman	 		 	Date

 Cc: Employee fileJ. Silverman Separation Agreement and Release dated as of October 19, 2010

 Exhibit 10.35 
 EXECUTION VERSION 
 SEPARATION AGREEMENT AND RELEASE 

This Separation Agreement and Release of Claims (the “Agreement”) is made by and among Joshua Silverman (the
“Employee”), an individual, and Skype Inc., a Delaware corporation (the “Company”). 

WHEREAS, the Employee is a party to an Employment Agreement with the Company, dated as of February 22nd, 2010 (the
“Employment Agreement”), and other related equity agreements; and 
 WHEREAS, the Employee’s employment
with the Company ceased as of September 30, 2010 in accordance with Section 4.4 of the Employment Agreement and the Company desires to provide Employee with the benefits set forth herein to assist Employee in the period of transition
following Employee’s separation. 
 NOW THEREFORE, in consideration of the mutual promises and releases contained herein
and for other good and valuable consideration, the sufficiency of which is hereby acknowledged, the parties agree as follows: 
  

	1)	Separation Benefits. 

  

	 	(a)	Separation Date and Final Paycheck. Employee’s employment with the Company ceased effective September 30, 2010 (the “Separation
Date”). The Employee will receive normal compensation up to and including that date, including payment for all earned but unused vacation less all required tax withholdings and other authorized deductions, and will receive reimbursement for
any business expenses incurred as of the Separation Date. 

  

	 	(b)	Post Employment Payments. Following Employee’s execution and non-revocation of this Agreement (provided that such condition shall not apply to the
payment described in subsection (iii) below), the Company will pay to Employee the following severance and other amounts in accordance with the terms of the Employment Agreement or other applicable arrangements, less all required tax
withholdings and other authorized deductions: 

  

	 	(i)	a pro-rata Annual Bonus payment for the year of separation to be paid at Employee’s 2010 target level and based on the portion of the fiscal year Employee was
employed by the Company through the Separation Date, payable in lump sum within thirty (30) days of the Agreement Effective Date, provided, that this payment shall not be subject to Section 4.12 of the Employment Agreement;

  

	 	(ii)	 a severance payment of USD $3,900,000, with (A) USD $2,190,000 being paid in a lump sum on the sixtieth (60th) day after the Separation Date
(or 

	 	 
the first business day thereafter); (B) USD $60,000 being paid on the first payroll payment date on or following April 15, 2011; and (C) the remainder (USD $1,650,000) payable in
approximately equal installments in accordance with the Company’s regular payroll practices (but off employee payroll) during the period beginning on May 1, 2011 and ending on September 30, 2011; 

 

	 	(iii)	a “thank you” bonus payment of USD $2,000,000, which is also not subject to Section 4.12 of the Employment Agreement and is payable within 30 days of the
Separation Date; 

  

	 	(iv)	accelerated vesting of 11,937 of Employee’s outstanding performance-based stock options and accelerated vesting of 6,904 of Employee’s outstanding time-based
stock options. Any stock options not vested as of the Separation Date shall be cancelled as of the Separation Date; 

  

	 	(v)	 vested stock options (including stock options granted through the co-invest program) shall remain exercisable for three years (the “Extended
Exercise Period”) following the Separation Date and the right under Section 8.01 of the Amended and Restated Exempted Limited Partnership Agreement of Skype Management, L.P., dated March 19, 2010 (the “Management
Partnership Agreement”), to repurchase ordinary shares subject to the time-based stock options and the performance-based stock options (but there is no right at all to repurchase the co-invest stock option or any co-invest shares except as
provided in Section 8.01(a) of the Management Partnership Agreement) (the “Repurchase Right”) during the 12-month period following the Separation Date will be suspended and deferred until the 12-month period commencing on the
third anniversary of the Separation Date, in each case, so long as the Employee (x) reasonably cooperates through December 31, 2010 with the Company in facilitating the Company’s transition to a new chief executive officer and
(y) does not engage in any conduct intended or that a reasonable person in a like position and under like circumstances could expect to cause meaningful harm to the Company and its subsidiaries (the obligations in subsections (x) and
(y) shall collectively be referred herein as the “Conditions”). In the event that the Employee materially violates the Condition in subsection (x) or violates the Condition in subsection (y), then (1) the Extended
Exercise Period shall end on the later of (A) one year following the Separation Date and (B) the date the Employee receives written notice from the Company that the Employee has materially violated or violated the Conditions, as the case
may be, and (2) the Repurchase Right shall be exercisable during the 12-month period following the date the Employee receives such written notice that the Employee has materially violated or violated the Conditions, as the case may be. To the
extent that any material violation of the Condition in subsection (x) is reasonably curable in the good faith discretion of the Board of Directors of the Company (the “Board”), the

  
 2 

	 	 
Board shall give the Employee the opportunity to cure such material violation. Notwithstanding anything else herein, no violation of subsection (y) of the Conditions shall be deemed to have
occurred with respect to any matters covered by the restrictive covenants and post-termination obligations described in Sections 5.1 through 5.6 of the Employment Agreement unless the Employee has materially violated the terms thereof during the
applicable coverage period of such restrictive covenant or post-termination obligation. The Repurchase Right will remain subject to all of the terms and conditions set forth in the Management Partnership Agreement, including that it may not be
exercised after an “initial public offering” or a “change of control” (each as defined in the Management Partnership Agreement). Any dispute as to the application of this Paragraph shall be determined de novo by an arbitrator
pursuant to the terms of Section 7.8 of the Employment Agreement, and the arbitrator shall have the right to award monetary and/or equitable relief with regard to any improper termination of the Extended Exercise Period or any improper exercise
of the Repurchase Right by the Company. 

  

	 	(vi)	for up to eighteen (18) months, a monthly amount that is equal (on an after-tax basis) to the difference between the applicable COBRA premium for the level and
type of coverage that the Employee has as of the Separation Date and the premium cost to Employee as if Employee were an employee of the Company (excluding, for purposes of calculating cost, an employee’s ability to pay premiums with pre-tax
dollars), which payment shall be paid in advance on the first payroll date of each month, commencing with the month immediately following the Employee’s Separation Date; provided, that any payments payable to the Employee during the
first fifty-nine (59) days following the Separation Date shall not be paid on the otherwise scheduled payment date but shall instead accumulate and be paid (together with any other amount that becomes due between such 59th date and the next
payroll date) on the first payroll date coincident with or next following the sixtieth (60th) day following the Separation Date (or the first business day thereafter); and provided, further, that in the event that Employee obtains
other employment that offers group health benefits, such payments by the Company shall immediately cease; and provided, further, that if the Company’s making payments under this Paragraph 1(b)(vi) would violate the
nondiscrimination rules applicable to non-grandfathered plans, or result in the imposition of penalties, under the Patient Protection and Affordable Care Act of 2010 (“PPACA”) and related regulations and guidance promulgated
thereunder, the Company may reform this Paragraph in such manner as is reasonably necessary to comply with the PPACA but to provide the Executive the intended benefit hereunder (without causing a violation under Section 409A of the Internal
Revenue Code of 1986, as amended (the “Section 409A”)). The Employee will notify the Company of his eligibility for health benefits from a subsequent employer within ten (10) business days of such eligibility;

  
 3 

	 	(vii)	payment of pre-approved, reasonable moving expenses back to the United States of America, provided such expenses are incurred no later than September 30, 2011;

  

	 	(viii)	continued payment by the Company, in a similar manner as in effect as of the Separation Date, of (A) the lease payments for the Employee’s current leased
automobile until December 31, 2010 and (B) the lease payments for the current home in Luxembourg that the Employee and his family are residing in as of the Separation Date until September 30, 2011 (or earlier if the Employee and his
family relocate out of Luxembourg). The Employee will notify the Company of his decision to relocate his family out of Luxembourg within ten (10) business days of making a firm commitment to do so; and 

 

	 	(ix)	tax preparation services for Employee’s home country and host country tax returns for the 2009, 2010 and 2011 calendar year. 

 

	 	(c)	Except as set forth in this Agreement or as required by federal, state or local law, Employee shall not be entitled to any additional benefits relating to
Employee’s separation of employment. 

  

	2)	Employee Release. 

  

	 	(a)	Employee, on Employee’s own part and on behalf of Employee’s dependents, heirs, executors, administrators, assigns, and successors, and each of them, hereby
covenants not to sue and fully releases, acquits, and discharges the Company, and its parent, subsidiaries, affiliates, and in such capacities, owners, trustees, directors, officers, agents, employees, stockholders, representatives, assigns, and
successors (collectively referred to as “Company Releasees”) with respect to and from any and all claims, wages, agreements, contracts, covenants, actions, suits, causes of action, expenses, attorneys’ fees, damages, and
liabilities of whatever kind or nature in law, equity or otherwise, whether known or unknown, suspected or unsuspected, and whether or not concealed or hidden, which Employee has at any time heretofore owned or held against said Company Releasees,
including, without limitation, those arising out of or in any way connected with Employee’s employment relationship with the Company or Employee’s separation from employment with the Company, except with respect to those benefits set forth
in Paragraph 1(b) of this Agreement. 

  

	 	(b)	 Notwithstanding the foregoing, nothing in this Agreement shall be a waiver of claims: (1) that may arise after the date on which Employee signs
this Agreement; (2) with respect to Employee’s right to enforce his rights that survive separation under the Employment Agreement or any other written agreement entered into between Employee and the Company (including, without limitation,
any equity grants or agreements); (3) regarding rights of indemnification, advancement and reimbursement of legal fees and directors and officers liability insurance to which Employee is entitled under the Employment Agreement;
(4) relating to any claims 

  
 4 

	 	 
for accrued, vested benefits under any employee benefit plan or pension plan of the Company Releasees subject to the terms and conditions of such plan and applicable law; (5) as a
stockholder or optionholder of the Company Releasees and as provided in any agreement with regard thereto; (6) payments and benefits to which Employee is entitled to receive following the Separation Date, if any, under the terms and conditions
of that certain Secondment Agreement, by and between Employee and the Company, dated as of February 22, 2010; and (7) with respect to eBay, Inc. and its affiliates (“eBay”), any rights to (i) indemnification and
liability insurance provided by eBay pursuant to the terms thereof; (ii) rights to tax equalization payments pursuant to agreements by and between the Employee and eBay; and (iii) rights to any unpaid payments and benefits from eBay
pursuant to that certain transfer of employment letter by and between the Employee and eBay, dated November 14, 2009. 

  

	3)	Time to Consider Agreement. 

  

	 	(a)	Employee acknowledges that Employee: (1) has carefully read this Agreement in its entirety; (2) has had an opportunity to consider for at least 21 days the
terms of this Agreement; (3) is hereby advised by the Company in writing to consult with an attorney of Employee’s choice in connection with this Agreement; (4) fully understands the significance of all of the terms and conditions of
this Agreement and has discussed them with Employee’s independent legal counsel, or has had a reasonable opportunity to do so; (5) has answered to Employee’s satisfaction by Employee’s independent legal counsel any questions
Employee has asked with regard to the meaning and significance of any of the provisions of this Agreement; and (6) is signing this Agreement voluntarily and of Employee’s own free will and agrees to abide by all the terms and conditions
contained herein. 

  

	 	(b)	Employee understands that Employee will have at least 21 days from the date of receipt of this Agreement to consider the terms and conditions of this Agreement.
Employee may accept this Agreement by signing it and returning it to the Company at the address specified pursuant to Section 6 of the Employment Agreement. After executing this Agreement, Employee shall have seven days (the “Revocation
Period”) to revoke this Agreement by indicating Employee’s desire to do so in writing delivered to the Company’s Chief Legal and Regulatory Officer at the address listed in the Employment Agreement by no later than 5:00 p.m. on
the seventh day after the date the Employee sign this Agreement. The effective date of this Agreement shall be the eighth day after the Employee sign the Agreement (the “Agreement Effective Date”). If the last day of the Revocation
Period falls on a Saturday, Sunday or holiday, the last day of the Revocation Period will be deemed to be the next business day. In the event Employee does not accept this Agreement as set forth above, or in the event Employee revokes this Agreement
during the Revocation Period, this Agreement, including but not limited to the obligation of the Company to provide the payments and benefits provided in Paragraph 1 above but excluding the payments described in Paragraph 1(a) and 1(b)(iii) above
(which shall be payable in all events), shall be deemed automatically null and void. 

  
 5 

	 	(c)	This Agreement shall not affect Employee’s rights under the Older Workers Benefit Protection Act to have a judicial determination of the validity of this Agreement
and does not purport to limit any right that Employee may have to file a charge under the Age Discrimination in Employment Act or other civil rights statute or to participate in an investigation or proceeding conducted by the Equal Employment
Opportunity Commission or other investigative agency. This Agreement does, however, waive and release any right to recover damages under the Age Discrimination in Employment Act or other civil rights statute. 

 

	4)	Restrictive Covenants; Survival. Employee hereby acknowledges the existence, continuing validity and enforceability of the terms of the Employment
Agreement intended to survive separation of employment (including without limitation the confidentiality, nonsolicitation, noncompetition, nondisparagement and cooperation covenants of Section 5 and the recoupment provisions in
Section 4.12), and/or any confidentiality agreement or restrictive covenant that Employee signed during Employee’s employment with the Company; provided, however, that Apple Inc., Facebook, Inc. and Cisco Systems, Inc. shall
be added to the listed companies covered by Section 5.4(i) of the Employment Agreement, provided, further, the Employee shall not be in breach of Section 5 of the Employment Agreement if the Employee provides consulting or
advisory services to Silver Lake Partners or any of its affiliates. Employee hereby affirms his understanding that Employee must remain in compliance with those terms following the Separation Date. Employee hereby further acknowledges that, upon
Employee’s material breach of certain restrictive covenants, the Company and/or the Company Releasees may have the right to cease making severance payments in accordance with the terms of the Employment Agreement and to terminate any
outstanding equity awards or recapture shares, or proceeds from Employee’s sale of shares, acquired under an equity award in accordance with the terms of the applicable equity plan, equity award agreement or any other agreement between Employee
and the Company and/or the Company Releasees. 

  

	5)	Confidentiality. Employee and the Company agree that the terms of this Agreement are strictly confidential and that neither party shall disclose the terms
of this Agreement except as required by law or regulation (including, without limitation, as required by legal filing or disclosure requirements), by the Company as advised by the Company’s counsel or by the Employee as advised by his counsel
or by the Employee to his spouse, financial advisor and attorney (each of whom shall be instructed by the Employee to maintain the terms of this Agreement in strict confidence in accordance with the terms hereof), applicable tax authorities, and to
the extent relevant, Employee may disclose the restrictive covenant obligations (and the penalties for violations thereof) under this Agreement and the Employment Agreement to potential future employers. 

 

	6)	 Acknowledgement. This Agreement covers both claims that the Employee knows about and those the Employee may not know about. The Employee
expressly waives all rights afforded by any statute which limits the effect of a release with respect to unknown claims. The Employee understands the significance of the Employee’s release of unknown claims and the Employee’s waiver of
statutory protection against a release of unknown claims. Notwithstanding the provisions of any statute, the Employee expressly acknowledges that 

  
 6 

	 	 
this Agreement is intended to include both claims that the Employee knows about and those the Employee does not know or suspect to exist. 

 

	7)	References. All inquiries to the Company concerning Employee’s employment shall be directed to the Global Human Resources Director, who shall confirm
dates of employment and level of compensation of the Employee during Employee’s employment with the Company. 

  

	8)	Miscellaneous. 

  

	 	(a)	This Agreement is binding upon, and shall inure to the benefit of, the parties and their respective heirs, executors, administrators, successors and assigns.

  

	 	(b)	This Agreement shall be construed in accordance with and governed for all purposes by the laws and public policy (other than conflict of laws principles) of the State
of New York applicable to contracts executed and to be wholly performed therein. If any of the provisions of this Agreement are held to be illegal or unenforceable, in whole or in part, the Agreement shall be revised only to the extent necessary to
make such provision(s) legal and enforceable. Arbitration will be the exclusive method of resolving any disputes under the Employment Agreement and this Agreement (other than (x) any dispute with respect to the payments described in Paragraph
1(b)(iii), which will be resolved in accordance with the dispute resolution provisions in the eBay Inc. Retention Bonus Plan for Skype Employees, or the benefits described in Paragraphs 1(b)(iv) and (v), which will be resolved in accordance with the
dispute resolution provisions in the related equity agreements or (y) any injunctive relief provided for under Section 5.7 of the Employment Agreement). For the avoidance of doubt, Section 7.9(iii) of the Employment Agreement shall
continue to apply. 

  

	 	(c)	The Employee represents and warrants that, as of the Agreement Effective Date, he has not filed or commenced any suit, claim, charge, complaint, action, arbitration, or
legal proceeding of any kind against the Company or its affiliates with regard to matters released hereunder. The Employee agrees that if he hereafter commences, joins in, or in any manner seeks relief through any suit arising out of, based upon, or
relating to any of the claims released hereunder, or in any manner asserts against the Company Releasees any of the claims released hereunder, including through any motion to reconsider, reopen or appeal the dismissal of the action, then he will pay
to the Company Releasees against whom such claim(s) is asserted, in addition to any other damages caused thereby, all attorneys’ fees incurred by such Company Releasees in defending or otherwise responding to said suit or claim. Provided
however, that the requirement that the Employee pay the Company Releasees attorneys’ fees will not be applicable to a claim or portion of a claim that the release is not valid under the Older Workers Benefit Protection Act, or any claim
asserted under the Age Discrimination in Employment Act. 

  

	 	(d)	 The Employee agrees and promises not to voluntarily participate, without receiving the prior written approval of the Company, in any pending or future
civil case, 

  
 7 

	 	 
arbitration, agency proceeding, or other legal proceeding brought against the Company (or any of its affiliates) by a third party (“Third Party Civil Litigation”) with respect to
any issues released hereunder. The Employee also agrees that he will not intentionally cause, encourage, or participate in any Third Party Civil Litigation maintained or instituted against the Company (or any of its affiliates) with regard to
matters released hereunder. Specifically, among other things, this Paragraph 8(d) is intended to preclude the Employee from, with regard to matters released hereunder (a) voluntarily providing any party involved in a Third Party Civil
Litigation, as defined above, against the Company (or any of its affiliates) with any statement, oral or written, sworn or unsworn, to be used in connection with that Third Party Civil Litigation, and/or (b) voluntarily appearing for the
purpose of providing deposition or trial testimony at such party’s request without the prior written approval of the Company. 

  

	 	(e)	Section 8 of the Employment Agreement shall continue to apply to any payments and benefits subject to such Section. The Employee advises the Company that he has
consulted with an attorney of his choice regarding the payment schedule set forth in Paragraph 1(b)(ii) and acknowledges and agrees that the Company and its subsidiaries and affiliates shall have no liability whatsoever to the Employee or otherwise
if such payments are subject to the additional tax and penalties under Section 409A as a result of any acceleration. 

  

	9)	Return of Property. Employee hereby represents to the Company that all property belonging to the Company has been returned, including, without limitation,
all keys, access cards, passwords, access codes, and other information necessary to access any computer or electronic database; all books, files, documents, and electronic media; and all Company property of any kind that Employee has in his
possession or control, or that Employee obtained from the Company. Employee may retain his rolodex and similar address books, including electronic address books, provided that such items only include contact information. To the extent that Employee
is provided with a cell phone number by the Company during employment, the Company shall cooperate with Employee in transferring such cell phone number to Employee’s individual name following separation. 

 

	10)	Resignations. Employee hereby confirms, effective as of the Separation Date, his resignation from his positions as Chief Executive Officer of Skype Global
S.à r.l.’s entire group of businesses and as Class F Manager of Skype Global S.à r.l. and from all other offices, directorships, trusteeships, committee memberships and fiduciary capacities held with, or on behalf of, the Company
or any of its affiliates or any benefit plans of the Company or any of its affiliates. These resignations will become irrevocable on the Agreement Effective Date. Employee further acknowledges and agrees that, after the Separation Date, he will not
represent himself as being a director, employee, officer, trustee, agent or representative of the Company or any of its affiliates for any purpose and will not make any statements as an agent or representative of the Company or any of its
affiliates. 

  

	11)	 Entire Agreement. Employee agrees that this Agreement contains and comprises the entire agreement and understanding between Employee and
the Company regarding 

  
 8 

	 	 
Employee’s separation of employment; that there are no additional promises between Employee and/or the Company other than those contained in this Agreement or any continuing obligations as
described in Paragraphs 1(b), 2(b) and 8(d); and that this Agreement shall not be changed or modified in any way except through a writing that is signed by both the Employee and the Company; provided, that the obligations of Employee and the Company
under any applicable shareholders’ agreement or equity arrangement remain in effect without amendment by this Agreement. 

 [Signature Page to Follow] 

  
 9 

 The parties acknowledge that they have read the foregoing Agreement, understand its
contents, and accept and agree to the provisions it contains voluntarily and knowingly, and with full understanding of its consequences. 
  

			
	By:	 	 /s/ JOSHUA SILVERMAN

		
	Name:	 	Joshua Silverman
		
	By:	 	 /s/ ROBERT
MILLER

			
		
	Employee Name:	 	Robert Miller
	Title:	 	Director
		
	Date:	 	October     , 2010

  
 10

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