Document:

exv10w02

 

    Exhibit 10.02

 

    March 31,
    2008
    

 

    Meg Whitman
    

 

    Meg,

 

    This letter confirms your appointment by the Board of Directors
    of eBay Inc. (the “Board”) to the position of Special
    Advisor to the President and Chief Executive Officer of eBay
    Inc. (“eBay” or the “Company”) effective
    upon your resignation as President and Chief Executive Officer
    on March 31, 2008 (the “Effective Date”). It is
    anticipated that your employment with eBay will terminate on
    December 31, 2008.

 

    You shall continue to serve as a member of the Board without
    additional consideration. Your outstanding eBay stock options
    will continue to vest pursuant to the terms of the
    Company’s stock plans so long as you remain a member of the
    Board.

 

    As of the Effective Date, your annual base salary will be
    $600,000, payable bi-weekly in accordance with the
    Company’s normal payroll practices. You will continue to be
    eligible to participate in the eBay Incentive Plan
    (“eIP”). Payouts under the plan are based on
    individual achievement as well as Company performance. Your
    target annual incentive bonus for eIP is 100% of your base
    salary. The Company reserves the right to amend, change or
    cancel the plan at its sole discretion.

 

    Following your termination of employment, you will remain
    eligible to receive the 2008 annual bonus under the eBay
    Incentive Plan provided the Compensation Committee of the Board
    determines that the performance goals have been satisfied. The
    bonus will be payable no later than March 15, 2009.

 

    In addition, you will vest with respect to 100% of the
    performance-based restricted stock units (“PBRSUs”)
    which would otherwise vest had you remained employed through
    March 15, 2009. Additionally, you will receive the use of
    office space and IT and secretarial services for a total of
    three years following your termination of employment.

 

    Very truly yours,

 

    eBay Inc.

 

    ACCEPTED:

 

    /s/  Meg
    Whitman

    Meg Whitman

 

    Dateexv10w03

 

 

    Exhibit 10.03

 

    March 31,
    2008
    

 

    John Donahoe

 

    John,

 

    This letter confirms your appointment by the Board of Directors
    of eBay Inc. (the “Board”) to the position of
    President and Chief Executive Officer of eBay Inc.
    (“eBay” or the “Company”) effective
    March 31, 2008 (the “Effective Date”). You shall
    report solely and directly to the Board.

 

    You have also been appointed as a new member of the Board,
    effective January 23, 2008, with a term of office expiring
    at eBay’s annual meeting of stockholders in 2008. For so
    long as you remain President and Chief Executive Officer of the
    Company, the Board will nominate you to the Board and, if
    re-elected, you shall serve as a member without additional
    consideration.

 

    As of the Effective Date, your annual base salary is $900,000,
    payable bi-weekly in accordance with the Company’s normal
    payroll practices. You will continue to be eligible to
    participate in the eBay Incentive Plan (“eIP”).
    Payouts under the plan are based on individual achievement as
    well as Company performance. Your target annual incentive bonus
    for eIP is 125% of your base salary. The Company reserves the
    right to amend, change or cancel the plan at its sole
    discretion. The Compensation Committee of the Board (the
    “Compensation Committee”) shall review your base
    salary and target annual incentive bonus at least annually and
    shall modify such amounts as the Compensation Committee deems
    appropriate.

 

    You were granted a long-term equity incentive focal award on
    March 3, 2008 (the “Focal Date”), having a target
    value of approximately $8,000,000 on such date. The award is
    comprised of a stock option to purchase 585,774 shares of
    eBay’s common stock, which represents 70% of the value of
    the focal award, and 92,843 performance-based restricted
    stock units (“PBRSUs”), which represents 30% of the
    value of the focal award. The exercise price for the stock
    option is $25.85, which was the fair market value of eBay’s
    common stock on the date of grant. The stock option will vest as
    to 6/48 of the shares subject to the option on the six-month
    anniversary of March 1, 2008 (the “Vesting
    Commencement Date”) and 1/48 monthly thereafter so as
    to be fully vested on March 1, 2012, subject to your
    continued employment with the Company on each vesting date. The
    PBRSUs are subject to the performance conditions determined by
    the Compensation Committee for the performance period beginning
    January 1, 2008 and ending December 31, 2009.

 

    The Board also approved a promotion equity award having a target
    value of approximately $15,000,000 on the Focal Date. The award
    is comprised of 388,781 restricted stock units
    (“RSUs”), which represents 67% of the value of the
    promotion award, and a stock option to purchase
    517,782 shares of eBay’s common stock, which
    represents 33% of the value of the promotion award. The RSUs
    will vest and become non-forfeitable over four years at the rate
    of 25% a year on each anniversary of the Vesting Commencement
    Date, subject to your continued employment with the Company on
    each vesting date. The stock option grant has been split into
    two equal tranches, with the first grant issued and priced on
    the Focal Date, and the second grant to be issued and priced
    effective the first business day of September 2008. The exercise
    price for the first tranche of the stock option award is $25.85,
    which was the fair market value of eBay’s common stock on
    the date of grant, and the exercise price for the second tranche
    of the stock option award will be no less than the fair market
    value of eBay’s common stock on the date of grant. Both the
    first tranche and the second tranche of the stock option will
    vest as to 6/48 of the shares subject to the option on the
    six-month
    anniversary of the Effective Date and 1/48 monthly
    thereafter so as to be fully vested on March 31, 2012,
    subject to your continued employment with the Company on each
    vesting date. In connection with your promotion, you were also
    granted an additional award of 60,000 RSUs on the Focal Date,
    with such award vesting over two years at the rate of 50% a year
    on each anniversary of the Vesting Commencement Date, subject to
    your continued employment with the Company on each vesting date.

 

    Your employment at the Company remains “at-will” and
    either you or the Company may terminate your employment at any
    time, with or without cause. However, if your employment is
    involuntarily terminated by the Company other than for
    “Cause”, then, subject to you executing and not
    revoking the Company’s standard form of release within
    60 days of the date of your termination of employment, the
    Company shall provide you with a lump sum severance payment
    consisting of your annual base salary plus your target annual
    incentive bonus as in effect on

 

    such date (the “Target Cash Compensation”) calculated
    as follows: two times the Target Cash Compensation if the
    termination occurs prior to the second anniversary of the
    Effective Date, one and one-half times the Target Cash
    Compensation if the termination occurs on or after the second
    anniversary but prior to the third anniversary of the Effective
    Date, and one times the Target Cash Compensation if the
    termination occurs on or after the third anniversary of the
    Effective Date.

 

    For purposes of this agreement, “Cause” shall mean:
    (i) your willful failure to carry out, or comply with, in
    any material respect any lawful and reasonable directive of the
    Board, which is not remedied within 30 days after receipt
    of written notice from the Company specifying such failure;
    (ii) your conviction of, or plea of nolo contendere
    to, any felony (or any other crime having a material adverse
    effect on the Company); (iii) your commission of an act of
    fraud, embezzlement, misappropriation, willful misconduct, or
    breach of fiduciary duty against the Company.

 

    Except as specifically modified and amended herein, all of the
    terms and conditions of your offer letter dated
    November 16, 2004 remain in full force and effect.

 

    Very truly yours,

 

    eBay Inc.

 

    ACCEPTED:

 

    /s/  John
    Donahoe

    John Donahoe

 

    March 31, 2008

    Dateexv10w04

 

 

    Exhibit 10.04

 

    March 31,
    2008
    

 

    Rajiv Dutta

 

    Rajiv,

 

    This letter confirms your appointment by the Board of Directors
    of eBay Inc. (the “Board”) to the position of
    President of eBay Marketplaces effective January 23, 2008
    (the “Effective Date”). You shall report to the
    President and Chief Executive Officer of eBay Inc.
    (“eBay” or the “Company”).

 

    You have also been appointed as a new member of the Board,
    effective January 23, 2008, with a term of office expiring
    at eBay’s annual meeting of stockholders in 2009. For so
    long as you remain President of eBay Marketplaces, the Board
    will nominate you to the Board and, if re-elected, you shall
    serve as a member without additional consideration.

 

    As of the Effective Date, your annual base salary is $720,000,
    payable bi-weekly in accordance with the Company’s normal
    payroll practices. You will continue to be eligible to
    participate in the eBay Incentive Plan (“eIP”).
    Payouts under the plan are based on individual achievement as
    well as Company performance. Your target annual incentive bonus
    for eIP is 100% of your base salary. The Company reserves the
    right to amend, change or cancel the plan at its sole
    discretion. The Compensation Committee of the Board (the
    “Compensation Committee”) shall review your base
    salary and target annual incentive bonus at least annually and
    shall modify such amounts as the Compensation Committee deems
    appropriate.

 

    You were granted a long-term equity incentive focal award on the
    March 3, 2008 (the “Focal Date”), having a target
    value of approximately $6,400,000 on such date. The award is
    comprised of a stock option to purchase 468,619 shares of
    eBay’s common stock, which represents 70% of the value of
    the focal award, and 74,274 performance-based restricted
    stock units (“PBRSUs”), which represents 30% of the
    value of the focal award. The exercise price for the stock
    option is $25.85, which was the fair market value of eBay’s
    common stock on the date of grant. The stock option will vest as
    to 6/48 of the shares subject to the option on the six-month
    anniversary of March 1, 2008 (the “Vesting
    Commencement Date”) and 1/48 monthly thereafter so as
    to be fully vested on March 1, 2012, subject to your
    continued employment with the Company on each vesting date. The
    PBRSUs are subject to the performance conditions determined by
    the Compensation Committee for the performance period beginning
    January 1, 2008 and ending December 31, 2009.

 

    The Board also approved a promotion equity award having a target
    value of approximately $10,000,000 on the Focal Date. The award
    is comprised of 193,423 restricted stock units
    (“RSUs”), which represents 50% of the value of the
    promotion award, and a stock option to purchase
    523,012 shares of eBay’s common stock, which
    represents 50% of the value of the promotion award. The RSUs
    will vest and become non-forfeitable over four years at the rate
    of 25% a year on each anniversary of the Vesting Commencement
    Date, subject to your continued employment with the Company on
    each vesting date. The stock option grant has been split into
    two equal tranches, with the first grant issued and priced on
    the Focal Date, and the second grant to be issued and priced
    effective the first business day of September 2008 (the
    “Mid-Year Focal Date”). The exercise price for the
    first tranche of the stock option award is $25.85, which was the
    fair market value of eBay’s common stock on the date of
    grant, and the exercise price for the second tranche of the
    stock option award will be no less than the fair market value of
    eBay’s common stock on the date of grant. The first tranche
    of the stock option will vest as to 6/48 of the shares subject
    to the option on the six-month anniversary of the Effective Date
    and 1/48 monthly thereafter so as to be fully vested on
    January 23, 2012, subject to your continued employment with
    the Company on each vesting date. The second tranche of the
    stock option award will vest as to 7/48 of the shares subject to
    the option on the Mid-Year Focal Date and 1/48 of the shares
    subject to the option will vest on the 23rd of every month
    thereafter so as to be fully vested on January 23, 2012,
    subject to your continued employment with the Company on each
    vesting date. In connection with your promotion, you were also
    granted an additional stock option to purchase
    150,000 shares of eBay’s common stock on the Focal
    Date. The exercise price for the stock option is $25.85, which
    was the fair market value of eBay’s common stock on the
    date of grant. The stock option will vest as to 6/48 of the
    shares subject to the option on the six-month anniversary of the
    Effective Date and 1/48 monthly thereafter so as to be
    fully vested on January 23, 2012, subject to your continued
    employment with the Company on each vesting date.

 

    Your employment at the Company remains “at-will” and
    either you or the Company may terminate your employment at any
    time, with or without cause. However, if your employment is
    involuntarily terminated by the Company other than for
    “Cause”, then, subject to you executing and not
    revoking the Company’s standard form of release within
    60 days of the date of your termination of employment, the
    Company shall provide you with a lump sum severance payment
    consisting of your annual base salary plus your target annual
    incentive bonus as in effect on such date (the “Target Cash
    Compensation”) calculated as follows: two times the Target
    Cash Compensation if the termination occurs prior to the second
    anniversary of the Effective Date, one and one-half times the
    Target Cash Compensation if the termination occurs on or after
    the second anniversary but prior to the third anniversary of the
    Effective Date, and one times the Target Cash Compensation if
    the termination occurs on or after the third anniversary of the
    Effective Date.

 

    For purposes of this agreement, “Cause” shall mean:
    (i) your willful failure to carry out, or comply with, in
    any material respect any lawful and reasonable directive of the
    Board or the President and Chief Executive Officer of eBay,
    which is not remedied within 30 days after receipt of
    written notice from the Company specifying such failure;
    (ii) your conviction of, or plea of nolo contendere
    to, any felony (or any other crime having a material adverse
    effect on the Company); (iii) your commission of an act of
    fraud, embezzlement, misappropriation, willful misconduct, or
    breach of fiduciary duty against the Company.

 

    Except as specifically modified and amended herein, all of the
    terms and conditions of your offer letter dated July 1,
    1998 remain in full force and effect.

 

    Very truly yours,

 

    eBay Inc.

 

    ACCEPTED:

 

    /s/  Rajiv
    Dutta

    Rajiv Dutta

 

    3/31/08

    Date

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