Document:

EX-10.15

 Exhibit 10.15 

AIRBNB, INC. 
 EMPLOYEE
STOCK PURCHASE PLAN 
 ARTICLE 1 

PURPOSE 
 The Plan’s purpose is to
assist employees of the Company and its Designated Companies in acquiring a stock ownership interest in the Company, and to help such employees provide for their future security and to encourage them to remain in the employment of the Company and
its Subsidiaries. 
 The Plan consists of two components: the Section 423 Component and the Non-Section 423
Component. The Section 423 Component is intended to qualify as an “employee stock purchase plan” under Section 423 of the Code and shall be administered, interpreted and construed in a manner consistent with the requirements of
Section 423 of the Code. In addition, this Plan authorizes the grant of Options under the Non-Section 423 Component, which need not qualify as Options granted pursuant to an “employee stock purchase
plan” under Section 423 of the Code; such Options granted under the Non-Section 423 Component shall be granted pursuant to separate Offerings containing such
sub-plans, appendices, rules or procedures as may be adopted by the Administrator and designed to achieve tax, securities laws or other objectives for Eligible Employees and the Designated Companies in
locations outside of the United States. Except as otherwise provided herein or determined by the Administrator, the Non-Section 423 Component will operate and be administered in the same manner as the
Section 423 Component. Offerings intended to be made under the Non-Section 423 Component will be designated as such by the Administrator at or prior to the time of such Offering. 

For purposes of this Plan, the Administrator may designate separate Offerings under the Plan, the terms of which need not be identical, in which Eligible
Employees will participate, even if the dates of the applicable Offering Period(s) in each such Offering is identical, provided that the terms of participation are the same within each separate Offering under the Section 423 Component as
determined under Section 423 of the Code. Solely by way of example and without limiting the foregoing, the Company could, but shall not be required to, provide for simultaneous Offerings under the Section 423 Component and the Non-Section 423 Component of the Plan. 
 ARTICLE 2 

DEFINITIONS 
 As used in the Plan, the
following words and phrases have the meanings specified below, unless the context clearly indicates otherwise: 

2.1    “Administrator” means the Committee, or such individuals to which authority to administer
the Plan has been delegated under Section 7.1 hereof. 
 2.2    “Affiliate” means any
person or entity that directly or indirectly controls, is controlled by or is under common control with the Company. The term “control” (including, with correlative meaning, the terms “controlled by” and “under common
control with”), as applied to any person or entity, means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such person or entity, whether through the ownership of voting or
other securities, by contract or otherwise. 

 2.3    “Agent” means the brokerage firm, bank or
other financial institution, entity or person(s), if any, engaged, retained, appointed or authorized to act as the agent of the Company or an Employee with regard to the Plan. 

2.4    “Board” means the Board of Directors of the Company. 

2.5    “Code” means the U.S. Internal Revenue Code of 1986, as amended, and all regulations,
guidance, compliance programs and other interpretative authority issued thereunder. 

2.6    “Committee” means the Compensation Committee of the Board. 

2.7    “Common Stock” means the Class A common stock of the Company. 

2.8    “Company” means Airbnb, Inc., a Delaware corporation, or any successor. 

2.9    “Compensation” of an Employee means the regular earnings or base salary, bonuses and
commissions paid to the Employee by the Company or a Designated Company, as applicable, on each Payday as compensation for services to the Company or the Designated Company, as applicable, before deduction for any salary deferral contributions made
by the Employee to any tax-qualified or nonqualified deferred compensation plan, including overtime, shift differentials, vacation pay, salaried production schedule premiums, holiday pay, jury duty pay,
funeral leave pay, paid time off, military pay, prior week adjustments and weekly bonus, but excluding: (a) education or tuition reimbursements, (b) imputed income arising under any group insurance or benefit program, (c) travel
expenses, (d) business and moving reimbursements, including tax gross ups and taxable mileage allowance, (e) income received in connection with any stock options, restricted stock, restricted stock units or other compensatory equity awards
and (f) all contributions made by the Company or any Designated Company for the Employee’s benefit under any employee benefit plan now or hereafter established. Such Compensation shall be calculated before deduction of any income or
employment tax withholdings, but shall be withheld from the Employee’s net income. The Administrator, in its discretion, may establish a different definition of Compensation for an Offering, which for the Section 423 Component shall apply
on a uniform and nondiscriminatory basis. Further, the Administrator will have discretion to determine the application of this definition to Eligible Employees outside the United States. 

2.10    “Designated Company” means each Affiliate and Subsidiary, including any Affiliate and
Subsidiary in existence on the Effective Date and any Affiliate and Subsidiary formed or acquired following the Effective Date, that has been designated by the Administrator from time to time in its sole discretion as eligible to participate in the
Plan, in accordance with Section 7.2 hereof, such designation to specify whether such participation is in the Section 423 Component or Non-Section 423 Component. A Designated Company may participate
in either the Section 423 Component or Non-Section 423 Component, but not both. Notwithstanding the foregoing, if any Affiliate or Subsidiary is disregarded for U.S. tax purposes in respect of the Company
or any Designated Company participating in the Section 423 Component, then such disregarded Affiliate or Subsidiary shall automatically be a Designated Company participating in the Section 423 Component. If any Affiliate or Subsidiary is
disregarded for U.S. tax purposes in respect of any Designated Company participating in the Non-Section 423 Component, the Administrator may exclude such Affiliate or Subsidiary from participating in the Plan,
notwithstanding that the Designated Company in respect of which such Affiliate or Subsidiary is disregarded may participate in the Plan. 

2.11    “Effective Date” means the date immediately prior to the date the Company’s
registration statement relating to its initial public offering becomes effective, provided that the Board has adopted, and the stockholders approved, the Plan prior to or on such date. 

  
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 2.12     “Eligible Employee” means an Employee:

 (a)    who is customarily scheduled to work over 20 hours per week; 

(b)    whose customary employment is more than five months in a calendar year; 

(c)    who has been employed by the Company or a Designated Company since at least the last day of the second month prior
to the month in which the applicable Enrollment Date occurs; and 
 (d)    who, after the granting of the Option, would
not be deemed for purposes of Section 423(b)(3) of the Code to possess 5% or more of the total combined voting power or value of all classes of stock of the Company or any Subsidiary. 

For purposes of clause (d), the rules of Section 424(d) of the Code with regard to the attribution of stock ownership shall apply in determining the
stock ownership of an individual, and stock which an Employee may purchase under outstanding options shall be treated as stock owned by the Employee. 

Notwithstanding the foregoing, the Administrator may exclude from participation in the Plan as an Eligible Employee: 

(x)    any Employee who is a “highly compensated employee” of the Company or any Designated Company (within the
meaning of Section 414(q) of the Code), or that is such a “highly compensated employee” (A) with compensation above a specified level, (B) who is an officer or (C) who is subject to the disclosure requirements of
Section 16(a) of the Exchange Act; or 
 (y)     any Employee who is a citizen or resident of a jurisdiction
outside the United States (without regard to whether they are also a citizen of the United States or a resident alien (within the meaning of Section 7701(b)(1)(A) of the Code)) if either (A) the grant of the Option is prohibited under the
laws of the jurisdiction governing such Employee, or (B) compliance with the laws of the jurisdiction would cause the Section 423 Component, any Offering thereunder or an Option granted thereunder to violate the requirements of
Section 423 of the Code; 
 provided that any exclusion in clauses (x) or (y) shall be applied in an identical manner under each Offering
to all Employees in accordance with Treas. Reg. § 1.423-2(e). 
 Further notwithstanding the foregoing, with
respect to the Non-Section 423 Component, (a) the Administrator may limit eligibility further within a Designated Company so as to only designate some Employees of a Designated Company as Eligible
Employees, and (b) to the extent any restrictions in this definition are not consistent with applicable local laws, the applicable local laws shall control. 

2.13    “Employee” means any person who renders services to the Company or a Designated Company in
the status of an employee within the meaning of Section 3401(c) of the Code. “Employee” shall not include any director of the Company or a Designated Company who does not render services to the Company or a Designated Company in the
status of an employee within the meaning of Section 3401(c) of the Code. For purposes of the Plan, the employment relationship shall be treated as continuing intact while the individual is on military leave, sick leave or other leave of absence
approved by the Company or a Designated Company and meeting the requirements of Treas. Reg. § 1.421-1(h)(2). Where the period of leave exceeds three months, or such other period specified in Treas. Reg.
§ 1.421-1(h)(2), and the individual’s right to reemployment is not guaranteed either by statute or by contract, the employment relationship shall be deemed to have terminated on the first day
immediately following such three (3)-month period, or such other period specified in Treas. Reg. § 1.421-1(h)(2). 

  
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 2.14    “Enrollment Date” means the first date
of each Offering Period. 
 2.15    “Exercise Date” means the last day of each Purchase Period,
except as provided in Section 5.2 hereof. 
 2.16    “Exchange Act” means the U.S.
Securities Exchange Act of 1934, as amended. 
 2.17    “Fair Market Value” means, as of any
date, the value of Common Stock determined as follows: 
 (a)    If the Common Stock is (i) listed on any
established securities exchange (such as the New York Stock Exchange or Nasdaq Stock Market), (ii) listed on any national market system or (iii) listed, quoted or traded on any automated quotation system, its Fair Market Value shall be the
closing sales price for a share of Common Stock as quoted on such exchange or system for such date or, if there is no closing sales price for a share of Common Stock on the date in question, the closing sales price for a share of Common Stock on the
last preceding date for which such quotation exists, as reported in The Wall Street Journal or such other source as the Administrator deems reliable; 

(b)    If the Common Stock is not listed on an established securities exchange, national market system or automated
quotation system, but the Common Stock is regularly quoted by a recognized securities dealer, its Fair Market Value shall be the mean of the high bid and low asked prices for such date or, if there are no high bid and low asked prices for a share of
Common Stock on such date, the high bid and low asked prices for a share of Common Stock on the last preceding date for which such information exists, as reported in The Wall Street Journal or such other source as the Administrator deems
reliable; or 
 (c)    If the Common Stock is neither listed on an established securities exchange, national market
system or automated quotation system nor regularly quoted by a recognized securities dealer, its Fair Market Value shall be established by the Administrator in good faith. 

Notwithstanding the foregoing, the Fair Market Value on the Initial Grant Date shall be initial public offering price of a share as set forth in the
Company’s final prospectus relating to its initial public offering filed with the U.S. Securities and Exchange Commission. 

2.18    “Grant Date” means the first day of an Offering Period. 

2.19    “Initial Grant Date” means the date the Company’s registration statement relating to
its initial public offering becomes effective, provided that the Board has adopted, and the stockholders approved, the Plan prior to or on such date. 

2.20    “New Exercise Date” has the meaning set forth in Section 5.2(b) hereof. 

2.21    “Non-Section 423 Component” means those Offerings
under the Plan, together with the sub-plans, appendices, rules or procedures, if any, adopted by the Administrator as a part of this Plan, in each case, pursuant to which Options may be granted to Eligible
Employees that need not satisfy the requirements for Options granted pursuant to an “employee stock purchase plan” that are set forth under Section 423 of the Code. 

2.22    “Offering” means an offer under the Plan of an Option that may be exercised during an
Offering Period as further described in Article 4 hereof. Unless otherwise specified by the Administrator, each Offering to the Eligible Employees shall be deemed a separate Offering, even if the dates and other terms of the applicable Purchase
Periods of each such Offering are identical and the provisions of the Plan 

  
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will separately apply to each Offering. To the extent permitted by Treas. Reg. § 1.423-2(a)(1), the terms of each separate Offering under the
Section 423 Component need not be identical, provided that the terms of the Section 423 Component and an Offering thereunder together satisfy Treas. Reg. § 1.423-2(a)(2) and (a)(3). 

2.23    “Offering Period” means each consecutive, overlapping twelve (12)-month period commencing
on each November 16 and May 16, and with respect to which Options shall be granted to Participants, provided that the first Offering Period (the “Initial Offering Period”) shall commence on the Initial Grant Date
and shall end on November 15, 2021. The duration and timing of Offering Periods may be established or changed by the Administrator at any time, in its sole discretion. Notwithstanding the foregoing, in no event may an Offering Period exceed 27
months. 
 2.24    “Option” means the right to purchase shares of Common Stock pursuant to the
Plan during each Offering Period. 
 2.25    “Option Price” means the purchase price of a share
of Common Stock hereunder as provided in Section 4.2 hereof. 
 2.26    “Parent” means any
entity that is a parent corporation of the Company within the meaning of Section 424 of the Code. 

2.27    “Participant” means any Eligible Employee who elects to participate in the Plan. 

2.28    “Payday” means the regular and recurring established day for payment of Compensation to an
Employee. 
 2.29    “Plan” means this Employee Stock Purchase Plan, including both the
Section 423 Component and Non-Section 423 Component and any other sub-plans or appendices hereto, as amended from time to time. 

2.30    “Plan Account” means a bookkeeping account established and maintained by the Company in
the name of each Participant. 
 2.31    “Purchase Period” means each consecutive six (6)-month
period commencing on each May 16 and November 16 within each Offering Period, provided that the first Purchase Period hereunder shall commence under the Initial Offering Period on the Initial Grant Date and end on May 15, 2021 (the
“Initial Purchase Period”). The first Purchase Period of each Offering Period shall commence on the Grant Date and end with the next Exercise Date. The duration and timing of Purchase Periods may be established or changed by
the Administrator at any time, in its sole discretion. Notwithstanding the foregoing, in no event may a Purchase Period exceed the duration of the Offering Period under which it is established. 

2.32    “Section 409A” means Section 409A of the Code. 

2.33    “Section 423 Component” means those Offerings under the
Plan that are intended to meet the requirements under Section 423(b) of the Code. 

2.34    “Subsidiary” means any entity that is a subsidiary corporation of the Company within the
meaning of Section 424 of the Code. 

  
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 2.35    “Tax-Related
Items” means any U.S. and non-U.S. federal, state and/or local taxes (including, without limitation, income tax, social insurance contributions, fringe benefit tax, employment tax, stamp tax and
any employer tax liability which has been transferred to a Participant) for which a Participant is liable in connection with his or her participation in the Plan. 

2.36    “Treas. Reg.” means U.S. Department of the Treasury regulations. 

2.37    “Withdrawal Election” has the meaning set forth in Section 6.1(a) hereof. 

ARTICLE 3 
 PARTICIPATION

 3.1    Eligibility. 

(a)    Any Eligible Employee who is employed by the Company or a Designated Company on a given Enrollment Date for an
Offering Period shall be eligible to participate in the Plan during such Offering Period, subject to the requirements of Articles 4 and 5 hereof, and, for the Section 423 Component, the limitations imposed by Section 423(b) of the Code.
Notwithstanding the foregoing, each Eligible Employee who is employed by the Company or a Designated Company on the Initial Grant Date shall be eligible to participate in the Initial Offering Period, subject to the requirements of Articles 4 and 5
hereof, and, for the Section 423 Component, the limitations imposed by Section 423(b) of the Code. 

(b)    No Eligible Employee shall be granted an Option under the Section 423 Component which permits the
Participant’s rights to purchase shares of Common Stock under the Plan, and to purchase stock under all other employee stock purchase plans of the Company, any Parent or any Subsidiary subject to Section 423 of the Code, to accrue at a
rate which exceeds $25,000 of fair market value of such stock (determined at the time such Option is granted) for each calendar year in which such Option is outstanding at any time. The limitation under this Section 3.1(b) shall be applied in
accordance with Section 423(b)(8) of the Code. 
 3.2    Election to Participate; Payroll Deductions 

(a)    Each individual who is an Eligible Employee as of an Offering Period’s Enrollment Date may elect to participate
in such Offering Period and the Plan by delivering to the Company or an Agent designated by the Company an enrollment form including a payroll deduction authorization (which may be in an electronic format or such other method as determined by the
Company in accordance with the Company’s practices) (a “Participation Election”) no later than the period of time prior to (i) the applicable Enrollment Date or (ii) solely in respect of the Initial Offering
Period, the last day of the Initial Purchase Period, in each case, that is determined by the Administrator, in its sole discretion. Except as provided in Sections 3.2(e), 3.2(f) and 3.3 hereof, an Eligible Employee may participate in the Plan only
by means of payroll deduction. 
 (b)    Subject to Section 3.1(b) hereof and except as may otherwise be determined
by the Administrator, payroll deductions (i) shall equal at least 1% of the Participant’s Compensation as of each Payday of the Offering Period following the Enrollment Date, but not more than 15% of the Participant’s
Compensation as of each Payday of the Offering Period following the Enrollment Date; and (ii) shall be expressed as a whole number percentage. Subject to Section 3.2(e) hereof, amounts deducted from a Participant’s Compensation with
respect to an Offering Period pursuant to this Section 3.2 shall be deducted each Payday through payroll deduction and credited to the Participant’s Plan Account; provided that for the Initial Offering Period under this Plan, payroll
deductions shall not begin until such date determined by the Administrator, in its sole discretion. 

  
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 (c)    Following at least one payroll deduction, a Participant may
decrease (to as low as zero) the amount deducted from such Participant’s Compensation only once during a Purchase Period upon ten calendar days’ prior written notice to the Company. After the Initial Offering Period, a Participant may not
increase the amount deducted from such Participant’s Compensation during an Offering Period. 
 (d)    Upon the
completion of an Offering Period, each Participant in such Offering Period shall automatically participate in the immediately following Offering Period at the same payroll deduction percentage as in effect at the termination of such Offering Period,
unless such Participant delivers to the Company or an Agent designated by the Company a different Participation Election with respect to the successive Offering Period in accordance with Section 3.2(a) hereof, or unless such Participant becomes
ineligible for participation in the Plan. 
 (e)    Notwithstanding any other provisions of the Plan to the contrary, in
non-U.S. jurisdictions where participation in the Plan through payroll deductions is prohibited or otherwise problematic under applicable local laws (as determined by the Administrator in its sole discretion),
the Administrator may provide that an Eligible Employee may elect to participate through contributions to the Participant’s Plan Account in a form acceptable to the Administrator in lieu of or in addition to payroll deductions; provided,
however, that, for any Offering under the Section 423 Component, the Administrator must determine that any alternative method of contribution is applied on an equal and uniform basis to all Eligible Employees in the Offering. Any reference to
“payroll deductions” in this Section 3.2 (or in any other section of the Plan) will similarly cover contributions by other means made pursuant to this Section 3.2(e). 

(f)    Notwithstanding anything in this Section 3.2 to the contrary, each Eligible Employee who is employed by the
Company or a Designated Company on the Initial Grant Date shall automatically become a Participant in the Plan with respect to the Initial Offering Period. Each such Participant shall be granted an Option to purchase the maximum number of shares of
Common Stock purchasable assuming the maximum amount of contributions permitted to be made by such Participant for such Initial Offering Period pursuant to the terms of this Plan. Following the Initial Grant Date (but in no event prior to the date
on which the Company’s registration statement on Form S-8 is filed with the U.S. Securities and Exchange Commission in respect of the Plan), each such Participant may, during the period designated from
time to time by the Administrator for such purpose, (i) elect to make such contributions (or a lesser amount of contributions) for the Initial Offering Period by payroll deductions in accordance with the Plan, such payroll deductions not to
exceed 15% of such Participant’s Compensation for the Paydays occurring during the Initial Purchase Period, provided that an individual payroll deduction may exceed 15% of such Participant’s Compensation for the applicable Payday or
(ii) elect to make no contributions for such Initial Offering Period; provided, however, that, to make contributions by payroll deductions, such Participant must deliver the Participation Election provided by the Company or an Agent designated
by the Company for the Initial Offering Period under this Plan on or prior to the date designated by the Administrator for such purpose. If any Participant fails to deliver the Participation Election provided by the Company or an Agent designated by
the Company for the Initial Offering Period on or prior to the date designated by the Administrator for such purpose, such Participant shall be deemed to have withdrawn from the Initial Offering Period. 

ARTICLE 4 
 PURCHASE OF
SHARES 
 4.1    Grant of Option. The Company may make one or more Offerings under the Plan, which may be
successive or overlapping with one another, until the earlier of: (i) the date on which all shares of Common Stock available under the Plan have been purchased or (ii) the date on which the Plan is suspended or terminates. The
Administrator shall designate the terms and conditions of each Offering in writing, 

  
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including without limitation, the Offering Period and the Purchase Periods. Each Participant shall be granted an Option with respect to an Offering Period on the applicable Grant Date. Subject to
the limitations of Section 3.1(b) hereof, the number of shares of Common Stock subject to a Participant’s Option shall be determined by dividing (a) such Participant’s payroll deductions accumulated prior to an Exercise Date and
retained in the Participant’s Plan Account on such Exercise Date by (b) the applicable Option Price; provided that in no event shall a Participant be permitted to purchase during each Purchase Period more than such number of whole
shares of Common Stock determined by dividing $12,500 by the Fair Market Value of a share of Common Stock on the Grant Date of the Offering Period in which the Purchase Period occurs (subject to any adjustment pursuant to Section 5.2 hereof);
as a result, in no event will a Participant be eligible to purchase during any Offering Period that number of whole shares of Common Stock determined by dividing $25,000 by the Fair Market Value of a share of Common Stock on the Grant Date of such
Offering Period (subject to any adjustment pursuant to Section 5.2 hereof). The Administrator may, for future Offering Periods, increase or decrease, in its absolute discretion, the maximum number of shares of Common Stock that a Participant
may purchase during Purchase Periods under such future Offering Periods. Each Option shall expire on the last Exercise Date for the applicable Offering Period immediately after the automatic exercise of the Option in accordance with Section 4.3
hereof, unless such Option terminates earlier in accordance with Article 6 hereof. 
 4.2    Option Price. The
Option Price shall equal 85% of the lesser of the Fair Market Value of a share of Common Stock on (a) the applicable Grant Date and (b) the applicable Exercise Date, or such other price designated by the Administrator; provided that
in no event shall the Option Price be less than the par value per share of the Common Stock. 
 4.3    Purchase of
Shares. 
 (a)    On each Exercise Date for an Offering Period, each Participant shall automatically and without any
action on such Participant’s part be deemed to have exercised the Participant’s Option to purchase at the applicable Option Price the largest number of whole shares of Common Stock which can be purchased with the amount in the
Participant’s Plan Account, subject to the limitations set forth in the Plan. Unless otherwise determined by the Administrator in advance of an Offering, any balance that is remaining in the Participant’s Plan Account (after exercise of
such Participant’s Option) as of the Exercise Date shall be refunded as soon as administratively practicable to the applicable Participant. 

(b)    As soon as practicable following each Exercise Date, the number of shares of Common Stock purchased by such
Participant pursuant to Section 4.3(a) hereof shall be delivered (either in share certificate or book entry form), in the Company’s sole discretion, to either (i) the Participant or (ii) an account established in the
Participant’s name at a stock brokerage or other financial services firm designated by the Company. The Company may require that shares be retained with such brokerage or firm for a designated period of time and/or may establish procedures to
permit tracking of disqualifying dispositions of such shares. 
 4.4    Automatic Termination of Offering Period.
If the Fair Market Value of a share of Common Stock on any Exercise Date (except the final scheduled Exercise Date of any Offering Period) is lower than the Fair Market Value of a share of Common Stock on the Grant Date for an Offering Period, then
such Offering Period shall terminate on such Exercise Date after the automatic exercise of the Option in accordance with Section 4.3 hereof, and each Participant shall automatically be enrolled in the Offering Period that commences immediately
following such Exercise Date and such Participant’s Participation Election shall remain in effect for such Offering Period. 

  
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 4.5    Transferability of Rights. An Option granted under the
Plan shall not be transferable, other than by will or the applicable laws of descent and distribution, and is exercisable during the Participant’s lifetime only by the Participant. No option or interest or right to the Option shall be available
to pay off any debts, contracts or engagements of the Participant or the Participant’s successors in interest or shall be subject to disposition by pledge, encumbrance, assignment or any other means whether such disposition be voluntary or
involuntary or by operation of law by judgment, levy, attachment, garnishment or any other legal or equitable proceedings (including bankruptcy), and any attempt at disposition of the Option shall have no effect. 

ARTICLE 5 
 PROVISIONS
RELATING TO COMMON STOCK 
 5.1    Common Stock Reserved. Subject to adjustment as provided in
Section 5.2 hereof, the maximum number of shares of Common Stock that shall be made available for sale under the Plan shall be the sum of (a) 4,000,000 shares and (b) an annual increase on the first day of each year beginning on
January 1, 2022 and annually thereafter ending in 2030 equal to the lesser of (i) 1% of the aggregate number of shares of all classes of the Company’s common stock outstanding (on an as converted basis) on the last day of the immediately
preceding fiscal year and (ii) such number of shares as may be determined by the Board; provided, however, no more than 89,785,394 shares may be issued under the Plan. Shares made available for sale under the Plan may be authorized but
unissued shares, treasury shares of Common Stock, or reacquired shares reserved for issuance under the Plan. 

5.2    Adjustments Upon Changes in Capitalization, Dissolution, Liquidation, Merger or Asset Sale. 

(a)    Changes in Capitalization. Subject to any required action by the stockholders of the Company, the number of
shares of Common Stock which have been authorized for issuance under the Plan but not yet placed under Option, as well as the price per share and the number of shares of Common Stock covered by each Option under the Plan which has not yet been
exercised shall be proportionately adjusted for any increase or decrease in the number of issued shares of Common Stock resulting from a stock split, reverse stock split, stock dividend, combination or reclassification of the Common Stock, or any
other increase or decrease in the number of shares of Common Stock effected without receipt of consideration by the Company; provided, however, that conversion of any convertible securities of the Company shall not be deemed to have
been “effected without receipt of consideration.” Such adjustment shall be made by the Administrator, whose determination in that respect shall be final, binding and conclusive. Except as expressly provided herein, no issuance by the
Company of shares of stock of any class, or securities convertible into shares of stock of any class, shall affect, and no adjustment by reason thereof shall be made with respect to, the number or price of shares of Common Stock subject to an
Option. 
 (b)    Dissolution or Liquidation. In the event of the proposed dissolution or liquidation of the
Company, the Offering Periods then in progress shall be shortened by setting a new Exercise Date (the “New Exercise Date”), and shall terminate immediately prior to the consummation of such proposed dissolution or
liquidation, unless provided otherwise by the Administrator. The New Exercise Date shall be before the date of the Company’s proposed dissolution or liquidation. The Administrator shall notify each Participant in writing, at least
ten business days prior to the New Exercise Date, that the Exercise Date for the Participant’s Option has been changed to the New Exercise Date and that the Participant’s Option shall be exercised automatically on the New Exercise
Date, unless prior to such date the Participant has withdrawn from the Offering Period as provided in Section 6.1 hereof or the Participant has ceased to be an Eligible Employee as provided in Section 6.2 hereof. 

  
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 (c)    Merger or Asset Sale. In the event of a proposed sale of
all or substantially all of the assets of the Company, or the merger of the Company with or into another corporation, each outstanding Option shall be assumed or an equivalent Option substituted by the successor corporation or a parent or subsidiary
of the successor corporation. If the successor corporation refuses to assume or substitute for the Option, any Offering Periods then in progress shall be shortened by setting a New Exercise Date and any Offering Periods then in progress shall end on
the New Exercise Date. The New Exercise Date shall be before the date of the Company’s proposed sale or merger. The Administrator shall notify each Participant in writing, at least ten business days prior to the New Exercise Date, that the
Exercise Date for the Participant’s Option has been changed to the New Exercise Date and that the Participant’s Option shall be exercised automatically on the New Exercise Date, unless prior to such date the Participant has withdrawn from
the Offering Period as provided in Section 6.1 hereof or the Participant has ceased to be an Eligible Employee as provided in Section 6.2 hereof. 

5.3    Insufficient Shares. If the Administrator determines that, on a given Exercise Date, the number of shares of
Common Stock with respect to which Options are to be exercised may exceed the number of shares of Common Stock remaining available for sale under the Plan on such Exercise Date, the Administrator shall make a pro rata allocation of the shares of
Common Stock available for issuance on such Exercise Date in as uniform a manner as shall be practicable and as it shall determine in its sole discretion to be equitable among all Participants exercising Options to purchase Common Stock on such
Exercise Date, and unless additional shares are authorized for issuance under the Plan, no further Offering Periods shall take place and the Plan shall terminate pursuant to Section 7.5 hereof. If an Offering Period is so terminated, then the
balance of the amount credited to the Participant’s Plan Account which has not been applied to the purchase of shares of Common Stock shall be paid to such Participant in one lump sum in cash within 30 days after such Exercise Date, without any
interest thereon (except as may be required by applicable local laws). 
 5.4    Rights as Stockholders. With
respect to shares of Common Stock subject to an Option, a Participant shall not be deemed to be a stockholder of the Company and shall not have any of the rights or privileges of a stockholder. A Participant shall have the rights and privileges of a
stockholder of the Company when, but not until, shares of Common Stock have been deposited in the designated brokerage account following exercise of the Participant’s Option. 

ARTICLE 6 
 TERMINATION
OF PARTICIPATION 
 6.1    Cessation of Contributions; Voluntary Withdrawal. 

(a)    A Participant may cease payroll deductions during an Offering Period and elect to withdraw from the Plan by
delivering written notice of such election to the Company or an Agent designated by the Company in such form and at such time prior to the Exercise Date for such Offering Period as may be established by the Administrator (a “Withdrawal
Election”). In the event a Participant elects to withdraw from the Plan, amounts then credited to such Participant’s Plan Account shall be returned to the Participant in one lump-sum payment
in cash within 30 days after such election is received by the Company, without any interest thereon (except as may be required by applicable local laws), and the Participant shall cease to participate in the Plan and the Participant’s Option
for such Offering Period shall terminate. Upon receipt of a Withdrawal Election, the Participant’s Participation Election and the Participant’s Option shall terminate. 

  
 10 

 (b)    A Participant’s withdrawal from the Plan shall not have any
effect upon the Participant’s eligibility to participate in any similar plan which may hereafter be adopted by the Company or in succeeding Offering Periods which commence after the termination of the Offering Period from which the Participant
withdraws. 
 (c)    A Participant who ceases contributions to the Plan during any Offering Period shall not be
permitted to resume contributions to the Plan during that Offering Period. 
 6.2    Termination of Eligibility.
Upon a Participant’s ceasing to be an Eligible Employee, for any reason, such Participant’s Option for the applicable Offering Period shall automatically terminate, the Participant shall be deemed to have elected to withdraw from the Plan,
and any balance on such Participant’s Plan Account shall be paid to such Participant or, in the case of the Participant’s death, to the person or persons entitled thereto pursuant to applicable law, within 30 days after such cessation of
being an Eligible Employee, without any interest thereon (except as may be required by applicable local laws). If a Participant transfers employment from the Company or any Designated Company participating in the Section 423 Component to any
Designated Company participating in the Non-Section 423 Component, such transfer shall not be treated as a termination of employment, but the Participant shall immediately cease to participate in the
Section 423 Component; however, any contributions made for the Offering Period in which such transfer occurs shall be transferred to the Non-Section 423 Component, and such Participant shall immediately
join the then-current Offering under the Non-Section 423 Component upon the same terms and conditions in effect for the Participant’s participation in the Section 423 Component, except for such
modifications otherwise applicable for Participants in such Offering. A Participant who transfers employment from any Designated Company participating in the Non-Section 423 Component to the Company or any
Designated Company participating in the Section 423 Component shall not be treated as terminating the Participant’s employment and shall remain a Participant in the Non-Section 423 Component until
the earlier of (i) the end of the current Offering Period under the Non-Section 423 Component, or (ii) the Enrollment Date of the first Offering Period in which the Participant is eligible to
participate following such transfer. Notwithstanding the foregoing, the Administrator may establish different rules to govern transfers of employment between companies participating in the Section 423 Component and the Non-Section 423 Component, consistent with the applicable requirements of Section 423 of the Code. 

ARTICLE 7 
 GENERAL
PROVISIONS 
 7.1    Administration. 

(a)    The Plan shall be administered by the Committee, which shall be composed of members of the Board. The Committee may
delegate administrative tasks under the Plan to the services of an Agent or Employees to assist in the administration of the Plan, including without limitation, determining the Designated Companies participating in the Plan, establishing and
maintaining an individual securities account under the Plan for each Participant, determining enrollment and withdrawal deadlines and determining exchange rates. In its absolute discretion, the Board may at any time and from time to time exercise
any and all rights and duties of the Administrator under the Plan. 
 (b)    It shall be the duty of the Administrator
to conduct the general administration of the Plan in accordance with the provisions of the Plan. The Administrator shall have the power, subject to, and within the limitations of, the express provisions of the Plan: 

(i)    To establish and terminate Offerings; 

  
 11 

 (ii)    To determine when and how Options shall be granted and the
provisions and terms of each Offering (which need not be identical); 
 (iii)    To select Designated Companies in
accordance with Section 7.2 hereof; and 
 (iv)    To construe and interpret the Plan, the terms of any Offering
and the terms of the Options and to adopt such rules for the administration, interpretation, and application of the Plan as are consistent therewith and to interpret, amend or revoke any such rules. The Administrator, in the exercise of this power,
may correct any defect, omission or inconsistency in the Plan, any Offering or any Option, in a manner and to the extent it shall deem necessary or expedient to administer the Plan, subject to Section 423 of the Code for the Section 423
Component. 
 (c)    The Administrator may adopt rules or procedures relating to the operation and administration of the
Plan to accommodate the specific requirements of local laws and procedures. Without limiting the generality of the foregoing, the Administrator is specifically authorized to adopt rules and procedures regarding handling of participation elections,
payroll deductions, payment of interest, conversion of local currency, payroll tax, withholding procedures and handling of stock certificates which vary with local requirements. 

(d)    The Administrator may adopt sub-plans applicable to particular Designated
Companies or locations, which sub-plans may be designed to be outside the scope of Section 423 of the Code. The rules of such sub-plans may take precedence over
other provisions of this Plan, with the exception of Section 5.1 hereof, but unless otherwise superseded by the terms of such sub-plan, the provisions of this Plan shall govern the operation of such sub-plan. 

(e)    All expenses and liabilities incurred by the Administrator in connection with the administration of the Plan shall
be borne by the Company. The Administrator may employ attorneys, consultants, accountants, appraisers, brokers or other persons. The Administrator, the Company and its officers and directors shall be entitled to rely upon the advice, opinions or
valuations of any such persons. All actions taken and all interpretations and determinations made by the Administrator in good faith shall be final and binding upon all Participants, the Company and all other interested persons. No member of the
Board or Administrator shall be personally liable for any action, determination or interpretation made in good faith with respect to the Plan or the Options, and all members of the Board or Administrator shall be fully protected by the Company in
respect to any such action, determination, or interpretation. 
 7.2    Designation of Affiliates and
Subsidiaries. The Administrator shall designate from time to time the Affiliates and Subsidiaries that shall constitute Designated Companies, and determine whether such Designated Companies shall participate in the Section 423 Component or Non-Section 423 Component; provided, however, that an Affiliate that does not also qualify as a Subsidiary may be designated only as participating in the Non-Section
423 Component. The Administrator may designate an Affiliate or Subsidiary, or terminate the designation of an Affiliate or Subsidiary, without the approval of the stockholders of the Company. 

7.3    Reports. Individual accounts shall be maintained for each Participant in the Plan. Statements of Plan
Accounts shall be given to Participants at least annually, which statements shall set forth the amounts of payroll deductions, the Option Price, the number of shares purchased and the remaining cash balance, if any. 

7.4    No Right to Employment. Nothing in the Plan shall be construed to give any person (including any
Participant) the right to remain in the employ of the Company, a Parent or a Subsidiary or to affect the right of the Company, any Parent or any Subsidiary to terminate the employment of any person (including any Participant) at any time, with or
without cause, which right is expressly reserved. 

  
 12 

 7.5    Amendment and Termination of the Plan. 

(a)    The Board may, in its sole discretion, amend, suspend or terminate the Plan at any time and from time to time. To
the extent necessary to comply with Section 423 of the Code (or any successor rule or provision), with respect to the Section 423 Component, or any other applicable law, regulation or stock exchange rule, the Company shall obtain
stockholder approval of any such amendment to the Plan in such a manner and to such a degree as required by Section 423 of the Code or such other law, regulation or rule. 

(b)    If the Administrator determines that the ongoing operation of the Plan may result in unfavorable financial
accounting consequences, the Administrator may in its discretion modify or amend the Plan to reduce or eliminate such accounting consequence including, but not limited to: 

(i)    altering the Option Price for any Offering Period including an Offering Period underway at the time of the change
in Option Price; 
 (ii)    shortening any Offering Period so that the Offering Period ends on a new Exercise Date,
including an Offering Period underway at the time of the Administrator action; and 
 (iii)    allocating shares of
Common Stock. 
 Such modifications or amendments shall not require stockholder approval or the consent of any Participant. 

(c)    Upon termination of the Plan, the balance in each Participant’s Plan Account shall be refunded as soon as
practicable after such termination, without any interest thereon (except as may be required by applicable local laws). 

7.6    Use of Funds; No Interest Paid. All funds received by the Company by reason of purchase of shares of Common
Stock under the Plan shall be included in the general funds of the Company free of any trust or other restriction and may be used for any corporate purpose (except as may be required by applicable local laws). No interest shall be paid to any
Participant or credited under the Plan (except as may be required by applicable local laws). 
 7.7    Term; Approval
by Stockholders. No Option may be granted during any period of suspension of the Plan or after termination of the Plan. The Plan shall be submitted for the approval of the Company’s stockholders within 12 months after the date of the
Board’s initial adoption of the Plan. Options may be granted prior to such stockholder approval; provided, however, that such Options shall not be exercisable prior to the time when the Plan is approved by the stockholders;
provided, further that if such approval has not been obtained by the end of the 12-month period, all Options previously granted under the Plan shall thereupon terminate and be canceled and become
null and void without being exercised. 
 7.8    Effect Upon Other Plans. The adoption of the Plan shall not
affect any other compensation or incentive plans in effect for the Company, any Parent or any Subsidiary. Nothing in the Plan shall be construed to limit the right of the Company, any Parent or any Subsidiary (a) to establish any other forms of
incentives or compensation for employees of the Company or any Parent or any Subsidiary, or (b) to grant or assume Options otherwise than under the Plan in connection with any proper corporate purpose, including, but not by way of limitation,
the grant or assumption of options in connection with the acquisition, by purchase, lease, merger, consolidation or otherwise, of the business, stock or assets of any corporation, firm or association. 

  
 13 

 7.9    Conformity to Securities Laws. Notwithstanding any other
provision of the Plan, the Plan and the participation in the Plan by any individual who is then subject to Section 16 of the Exchange Act shall be subject to any additional limitations set forth in any applicable exemption rule under
Section 16 of the Exchange Act (including any amendment to Rule 16b-3 of the Exchange Act) that are requirements for the application of such exemptive rule. To the extent permitted by applicable law, the
Plan shall be deemed amended to the extent necessary to conform to such applicable exemptive rule. 
 7.10    Notice
of Disposition of Shares. Each Participant shall give the Company prompt notice of any disposition or other transfer of any shares of Common Stock, acquired pursuant to the exercise of an Option granted under the Section 423 Component, if
such disposition or transfer is made (a) within two years after the applicable Grant Date or (b) within one year after the transfer of such shares of Common Stock to such Participant upon exercise of such Option. The Company may direct
that any certificates evidencing shares acquired pursuant to the Plan refer to such requirement. 
 7.11    Tax
Withholding. At the time of any taxable event that creates a withholding obligation for the Company or any Parent, Affiliate or Subsidiary, the Participant will make adequate provision for any Tax-Related
Items. In their sole discretion, and except as otherwise determined by the Administrator, the Company or the Designated Company that employs or employed the Participant may satisfy their obligations to withhold
Tax-Related Items by (a) withholding from the Participant’s wages or other compensation, (b) withholding a sufficient whole number of shares of Common Stock otherwise issuable following exercise
of the Option having an aggregate value sufficient to pay the Tax-Related Items required to be withheld with respect to the Option and/or shares, or (c) withholding from proceeds from the sale of shares
of Common Stock issued upon exercise of the Option, either through a voluntary sale or a mandatory sale arranged by the Company. 

7.12    Governing Law. The Plan and all rights and obligations thereunder shall be construed and enforced in
accordance with the laws of the State of Delaware, without regard to the conflict of law rules thereof or of any other jurisdiction. 

7.13    Notices. All notices or other communications by a Participant to the Company under or in connection with
the Plan shall be deemed to have been duly given when received in the form specified by the Company at the location, or by the person, designated by the Company for the receipt thereof. 

7.14    Conditions To Issuance of Shares. 

(a)    Notwithstanding anything herein to the contrary, the Company shall not be required to issue or deliver any
certificates or make any book entries evidencing shares of Common Stock pursuant to the exercise of an Option by a Participant, unless and until the Administrator has determined, with advice of counsel, that the issuance of such shares of Common
Stock is in compliance with all applicable laws, regulations of governmental authorities and, if applicable, the requirements of any securities exchange or automated quotation system on which the shares of Common Stock are listed or traded, and the
shares of Common Stock are covered by an effective registration statement or applicable exemption from registration. In addition to the terms and conditions provided herein, the Administrator may require that a Participant make such reasonable
covenants, agreements, and representations as the Administrator, in its discretion, deems advisable in order to comply with any such laws, regulations, or requirements. 

  
 14 

 (b)    All certificates for shares of Common Stock delivered pursuant to
the Plan and all shares of Common Stock issued pursuant to book entry procedures are subject to any stop-transfer orders and other restrictions as the Administrator deems necessary or advisable to comply with U.S. and
non-U.S. federal, state or local securities or other laws, rules and regulations and the rules of any securities exchange or automated quotation system on which the shares of Common Stock are listed, quoted,
or traded. The Administrator may place legends on any certificate or book entry evidencing shares of Common Stock to reference restrictions applicable to the shares of Common Stock. 

(c)    The Administrator shall have the right to require any Participant to comply with any timing or other restrictions
with respect to the settlement, distribution or exercise of any Option, including a window-period limitation, as may be imposed in the sole discretion of the Administrator. 

(d)    Notwithstanding any other provision of the Plan, unless otherwise determined by the Administrator or required by
any applicable law, rule or regulation, the Company may, in lieu of delivering to any Participant certificates evidencing shares of Common Stock issued in connection with any Option, record the issuance of shares of Common Stock in the books of the
Company (or, as applicable, its transfer agent or stock plan administrator). 
 If, pursuant to this Section 7.14, the Administrator determines that
shares of Common Stock will not be issued to any Participant, the Company is relieved from liability to any Participant except to refund to the Participant such Participant’s Plan Account balance, without interest thereon (except as may be
required by applicable local laws). 
 7.15    Equal Rights and Privileges. All Eligible Employees granted
Options pursuant to an Offering under the Section 423 Component shall have equal rights and privileges under this Plan to the extent required under Section 423 of the Code so that the Section 423 Component qualifies as an
“employee stock purchase plan” within the meaning of Section 423 of the Code. Any provision of the Section 423 Component that is inconsistent with Section 423 of the Code shall, without further act or amendment by the
Company or the Board, be reformed to comply with the equal rights and privileges requirement of Section 423 of the Code. Eligible Employees participating in the Non-Section 423 Component need not have the
same rights and privileges as each other, or as Eligible Employees participating in the Section 423 Component. 

7.16    Rules Particular to Specific Countries. Notwithstanding anything herein to the contrary, the terms and
conditions of the Plan with respect to Participants who are tax residents of a particular non-U.S. country or who are non-U.S. nationals or employed in non-U.S. jurisdictions may be subject to an addendum to the Plan in the form of an appendix or sub-plan (which appendix or sub-plan may
be designed to govern Offerings under the Section 423 Component or the Non-Section 423 Component, as determined by the Administrator). To the extent that the terms and conditions set forth in an appendix
or sub-plan conflict with any provisions of the Plan, the provisions of the appendix or sub-plan shall govern. The adoption of any such appendix or sub-plan shall be pursuant to Section 7.1 above. Without limiting the foregoing, the Administrator is specifically authorized to adopt rules and procedures, with respect to Participants who are non-U.S. nationals or employed in non-U.S. jurisdictions, regarding the exclusion of particular Affiliates or Subsidiaries from participation in the Plan, eligibility to
participate, the definition of Compensation, handling of payroll deductions or other contributions by Participants, payment of interest, conversion of local currency, data privacy security, payroll tax, withholding procedures, establishment of bank
or trust accounts to hold payroll deductions or contributions. 
 7.17    Section 409A. The Section 423
Component of the Plan and the Options granted pursuant to Offerings thereunder are intended to be exempt from the application of Section 409A. Neither the Non-Section 423 Component nor any Option granted
pursuant to an Offering thereunder is intended to constitute 

  
 15 

 
or provide for “nonqualified deferred compensation” within the meaning of Section 409A. Notwithstanding any provision of the Plan to the contrary, if the Administrator determines
that any Option granted under the Plan may be or become subject to Section 409A or that any provision of the Plan may cause an Option granted under the Plan to be or become subject to Section 409A, the Administrator may adopt such
amendments to the Plan and/or adopt other policies and procedures (including amendments, policies and procedures with retroactive effect), or take any other actions as the Administrator determines are necessary or appropriate to avoid the imposition
of taxes under Section 409A, either through compliance with the requirements of Section 409A or with an available exemption therefrom. 

*    *    *    *    * 

I hereby certify that the foregoing Plan was adopted by the Board of Directors of Airbnb, Inc. on
[                ]. 
 I hereby certify that the foregoing Plan was
approved by the stockholders of Airbnb, Inc. on [                ]. 

Executed on [                ]. 

 

	
	  

	Corporate Secretary

  
 16EX-10.21

 Exhibit 10.21 

 
 

 
 January 26, 2020 

Catherine Powell 
 Re: Offer of Employment
with Airbnb, Inc. (“Agreement”) 
 Dear Catherine: 

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 Head of Experiences 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 January 29, 2020 (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 have agreed, however, that you
will be permitted to work remotely from Los Angeles as mutually agreed between you and the Company. 
 We can’t wait to have you on board. 

  
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 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 a committee thereof, from time to time in accordance with the Company’s ordinary practice. 

Cash Hiring Bonus 
 You will be entitled to a cash hiring
bonus in an aggregate amount of $400,000 (“Hiring Bonus”), which amount would be subject to any required tax and other deductions and will be payable in accordance with the terms hereof. $200,000 of the Hiring Bonus (the
“First Hiring Bonus Payment”), subject to any required tax and other deductions, will be payable within the first two payroll cycles following your Start Date. The remaining $200,000 of the Hiring Bonus (the
“Second Hiring Bonus Payment”), subject to any required tax and other deductions, will be payable within the first two payroll cycles following the one-year anniversary of your Start
Date. 
 With respect to the First Hiring Bonus Payment, if you subsequently cease your employment with Airbnb for any reason, other than Airbnb’s
termination without Cause (as defined below) or your termination for Good Reason (as defined below), within 12 months following your Start Date, then you shall promptly repay Airbnb an amount equal to (x) $16,667 (which is one-twelfth of $200,000, the original gross-of-taxes amount of the First Hiring Bonus Payment) times (y) the difference equal to
12 less the number of full calendar months that you have remained employed by Airbnb from your Start Date (prorated for any partial month) net of any taxes withheld on the portion of the First Hiring Bonus Payment to be repaid. 

With respect to the Second Hiring Bonus Payment, if you subsequently cease your employment with Airbnb for any reason, other than Airbnb’s termination
without Cause (as defined below) or your termination for Good Reason (as defined below), within 12 months following the one year anniversary of your Start Date, then you shall immediately repay Airbnb an amount equal to (x) $$16,667 (which is
one-twelfth of $200,000, the original gross-of-taxes amount of the Second Hiring Bonus Payment) times (y) the difference equal to 12 less the number of full
calendar months that you have remained employed by Airbnb from the one year anniversary of your Start Date (prorated for any partial month) net of any taxes withheld on the portion of the Second Hiring Bonus Payment to be repaid. 

Temporary Housing Lump Sum 
 You will be eligible for a one-time temporary housing lump sum payment of $60,000, which amount shall be grossed-up so that $60,000 is received by you on an
after-tax basis (the “Temporary Housing Lump Sum”). Your Temporary Housing 

  
 -2- 

 

 
  

 
Lump Sum will be paid in your first or second paycheck after you sign a lease in the Bay Area. We strongly encourage and advise you to utilize Airbnb for your temporary housing needs;
there’s no better way to truly feel at home while you are in search for your new, permanent, home. 
 Travel Side Letter 

Following the execution of this offer letter, you and the Company agree to negotiate in good faith and enter into a side letter agreement stating the terms of
a one-time lump sum payment to assist you with travel expenses. 
 2020 Bonus 

In addition, if there is a company-wide bonus plan approved by the Board, you will be eligible to earn a one-time
performance bonus for the 2020 calendar year, which will be targeted at seventy-five percent (75%) of your Annual Salary (the “2020 Bonus”). The 2020 Bonus will be governed by the terms and conditions of the 2020 Bonus Plan,
once approved by the Board of Directors. The 2020 Bonus will be based upon factors including the Company’s attainment of written targeted goals as set by the Board, or a committee thereof, in its sole discretion, and documented in the 2020
Bonus Plan. The 2020 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 the 2020 Bonus is guaranteed, and you must be an employee on the
2020 Bonus payment date to be eligible to earn the 2020 Bonus. The 2020 Bonus shall be prorated based on your Start Date. 
 New Hire Equity

Stock Option. You will be granted an option to purchase 75,789 shares of Airbnb Common Stock (the “Option”) as soon as
practicable but no later than 30 days following your Start Date. Subject to your continued employment, you will vest in 40% of the shares subject to the Option after 12 months of continuous service from your Start Date (the “Option
Vesting Start Date”), and the balance of the shares subject to the Option will vest in equal monthly installments over the next 36 months of continuous service following the Option Vesting Start Date, in each case, on the monthly
anniversary of your Start Date, as described in the applicable Stock Option Agreement.
 The Option will be subject to the terms and conditions applicable
to options granted under the Airbnb 2018 Equity Incentive Plan (the “Plan”), and the applicable Stock Option Agreement. The exercise price per share of each 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 such Option is 

  
 -3- 

 

 
  

 
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 Code (as defined below). 
 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 37,894 shares (which is approximately $4,500,000 converted to restricted stock units at a price of $118.75 per share) (the “RSU Award”) of Airbnb’s Common
Stock. The 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 RSU Award will vest as follows: 40% of the total shares subject to the RSU Award shall vest
on the first anniversary of the first Quarterly Installment Date (as defined below) following your Start Date, 7.5% of the shares subject to the RSU Award shall vest on each of the next four Quarterly Installment Dates (as defined below) thereafter,
5% of the shares subject to the RSU Award shall vest on each of the next four Quarterly Installment Dates thereafter, and 2.5% of the shares subject to the RSU Award shall vest 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 RSU Award will be settled in shares of Airbnb, Inc. Common Stock shortly after vesting.

“Quarterly Installment Date” shall mean the 25th day of each February, May, August and November. You will receive the Airbnb
Common Stock subject to the RSU Awards upon settlement of the RSU Award or Second RSU Award, respectively, following its vesting, in accordance with the terms and conditions of the Plan and the RSU agreement.

In the event that the shares you receive on vesting under the RSU Award prior to (i) an initial public offering, (ii) the Company’s filing a
report under the Securities Exchange Act of 1934 (the “Exchange Act”) or (iii) change in control are not immediately saleable by you on the settlement date, those RSUs will be
net-settled to cover your applicable tax withholding obligations. After the occurrence of an initial public offering, the Company’s filing a report under the Exchange Act, or a change in control
occur, withholding taxes on your RSU awards shall be handled in the same manner as such taxes are satisfied for other employees. 
 You will not be eligible
to receive another equity award during Airbnb’s Annual Compensation Review in February 2020. You will be eligible to receive a refresh equity award during the regular Annual Compensation Review in February 2021 or such other compensation
review program that is in place from time to time.

  
 -4- 

 

 
  

 Certain Defined Terms 

For purposes of this Agreement, “Cause” shall mean your (i) conviction of, or entering a plea of guilty or no contest to or for,
any felony (other than as a result of vicarious liability) or any crime involving moral turpitude, (ii) commission of an act of harassment or discrimination (as defined by Airbnb’s Anti-Harassment, Discrimination, and Retaliation Policy),
sexual assault, fraud, embezzlement or material misappropriation, (iii) material breach of fiduciary duty against Airbnb which has had or will have an adverse effect on Airbnb’s business, (iv) gross negligence or willful misconduct in
the performance of your employment obligations and duties that has had or will have a material adverse effect on Airbnb’s business; or (v) material breach of this Agreement, the Confidentiality Agreement (as defined below), Airbnb’s
Anti-Bribery & Corruption Policy, Global Harassment Discrimination & Retaliation Policy, Global Information Security & Privacy Policy, Global User Information Access Policy, Airbnb’s Code of Ethics (or policies
referenced therein) or, if Airbnb adopts an insider trading policy, such insider trading policy which will be provided to you promptly after being adopted; (vi) continued failure or refusal to perform material duties required of you under your
employment agreement or offer letter, or as instructed by the individual to whom you directly report; and (vii) any other misconduct which is, or could reasonably be expected to be, injurious to the financial condition or business reputation of
Airbnb; and, in the case of clauses (iv), (v), or (vi), only after there has been delivered to you a written demand to cure such breach with reasonable detail regarding the nature of the breach and, if such breach is capable of cure, such breach has
not been cured within thirty (30) days from the date on which you received the written demand). 
 For the purposes of this Agreement, a
“Change in Control Transaction” shall mean either: (i) any transaction or series of related transactions (including, without limitation, any reorganization, merger or consolidation), that results in Airbnb’s
stockholders of record immediately prior to such transaction or series of related transactions holding, immediately after such transaction or series of related transactions, 50% or less of the voting power of the surviving or acquiring entity
(provided that the sale by Airbnb of its securities for the purposes of raising additional funds shall not constitute a Change in Control Transaction hereunder); or (ii) a sale of all or substantially all of the assets of Airbnb; provided that
the transaction (including any series of transactions) also qualifies as a change in control under U.S. Treasury Regulation 1.409A-3(i)(5)(v) or 1.409A-3(i)(5)(vii). 

For purposes of this Agreement, “Good Reason” shall mean (i) the removal of you, without your consent, from the position of Head
of Experiences; (ii) a material diminution in your authority, duties or responsibilities as in effect immediately prior to such reduction (excluding any interim responsibilities); (iii) any material

  
 -5- 

 

 
  

 
reduction in your Annual Salary; (iv) relocation of your place of work to a location in excess of 100 miles from San Francisco; or (v) material failure of Airbnb to provide your salary,
RSU Award or other benefits in accordance with the terms of this Agreement, excluding an inadvertent failure which is cured within ten (10) business days following notice of the nature of such failure; provided, that no resignation for Good
Reason shall be effective unless and until (1) you have first provided the Company with written notice specifically identifying the acts or omissions constituting the grounds for “Good Reason” within 30 days after the occurrence
thereof, (2) the Company has not cured such acts or omissions that are capable of cure within 30 days of its actual receipt of such notice, and (3) the effective date of your termination for Good Reason occurs no later than 60 days after
the initial existence of the facts or circumstances constituting Good Reason. 
 For purposes of this Agreement, “Separation” shall
mean a “separation from service,” as defined in the regulations under Section 409A of the Internal Revenue Code (the “Code”). 

For purposes of this Agreement, “Severance Amount” shall mean an amount in US dollars equal to $4,400,000 less the gross amount
previously paid or owing to you by Airbnb through and on the date of your Separation (before reduction for withholdings and deductions), which, for clarity, includes (without limitation) amounts paid to you under your Annual Salary, the 2020 Bonus,
the First Hiring Bonus Payment, the Second Hiring Bonus Payment, other bonuses, the gross value of vested equity awards as close as practicable to the date of your Separation, and any wages owing to you upon your Separation.

Severance Benefits 
 In the event of your Separation from
Airbnb without Cause or for Good Reason prior to February 25, 2021 (the “Severance Period”), and provided that you deliver to Airbnb a signed settlement agreement and general release and waiver of claims and non-disparagement agreement in customary form in favor of Airbnb, its employees, agents and its representatives and affiliated entities (the “Release”), within
fifty-two (52) days following your Separation, and satisfy all conditions to make the Release effective, then, you shall be entitled to a lump sum payment of the Severance Amount. The Severance Amount may
be paid in cash or through the acceleration of a portion of the vesting condition of your equity awards, in the sole discretion of the Company. Such severance payments and benefits will be subject to withholding and other deductions, as
applicable. 
 Section 409A To the extent (i) any payments to which you become entitled under this letter agreement, or
any agreement or plan referenced herein, in connection with your Separation from Airbnb constitute deferred compensation subject to Section 

  
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409A of the Code and (ii) you are deemed at the time of such termination of employment to be a “specified” employee under Section 409A of the Code, then such payment or
payments shall not be made or commence until the earlier of (i) the expiration of the six (6)-month period measured from your Separation; or (ii) the date of your death following such Separation; provided, however, that such deferral shall
only be effected to the extent required to avoid adverse tax treatment to you, including (without limitation) the additional twenty percent (20%) tax for which you would otherwise be liable under Section 409A(a)(1)(B) of the Code in the absence
of such deferral. Upon the expiration of the applicable deferral period, any payments which would have otherwise been made during that period (whether in a single sum or in installments) in the absence of this paragraph shall be paid to you or
your beneficiary in one lump sum (without interest). Except as otherwise expressly provided herein, to the extent any expense reimbursement or the provision of any in-kind benefit under this letter agreement
(or otherwise referenced herein) is determined to trigger taxation under Section 409A of the Code with respect to a calendar year, the amount of any such expenses eligible for reimbursement, or the provision of any in-kind benefit, in one calendar year shall not affect the expenses eligible for reimbursement or in kind benefits to be provided in any other calendar year, in no event shall any expenses be reimbursed after the
last day of the calendar year following the calendar year in which you incurred such expenses, and in no event shall any right to reimbursement or the provision of any in-kind benefit be subject to liquidation
or exchange for another benefit. To the extent that any provision of this letter agreement is ambiguous as to whether it triggers taxation under Code Section 409A, the provision will be read in such a manner so that all payments hereunder are
exempt from taxation under Code Section 409A to the maximum permissible extent, and for any payments where such construction is not tenable, that those payments comply with Section 409A to the maximum permissible extent such that no tax is
triggered thereunder. To the extent any payment under this letter agreement may be classified as a “short-term deferral” within the meaning of Section 409A, such payment shall be deemed a short-term deferral, even if it may also
qualify for an exemption from Section 409A under another provision of Section 409A. Payments pursuant to this letter agreement (or referenced in this letter agreement, including each installment of a series of payments), are intended to
constitute separate payments for purposes of Section 1.409A-2(b)(2) of the regulations under Code Section 409A. 
 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.

  
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 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. 

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: 

  
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 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. 
 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 Chief Legal Officer. 
 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 

  
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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 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. 

[Rest of page intentionally left blank] 

  
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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.

 Catherine, I am personally delighted at the prospect of having you join us. We have an incredible journey in front of us, and I am glad you will be a
part of it. 
 Let’s change the world together.

Sincerely, 
 Airbnb, Inc. 

 

			
	 By:
	 	 /s/ Beth Axelrod

	Name:	 	 Beth Axelrod

	Title:	 	 VP of Employee Experience

 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/ Catherine Powell
	 		 	Date Signed:	 	 1/26/2020

	Catherine Powell	 		 		 	

  
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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 

  
 -14-

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