eBay Inc. Supplemental Retention Bonus Plan Agreement with William C. Cobb
This agreement between eBay Inc. and William C. Cobb outlines a supplemental retention bonus plan. Under the plan, Mr. Cobb is eligible to receive a one-time bonus of $280,000 if he remains employed with eBay through November 27, 2004. The bonus is subject to standard payroll deductions and will not be paid if Mr. Cobb leaves the company before the specified date, with no partial payment for early departure.
| TO: | William C. Cobb | |
| FROM: | eBay Inc. | |
| RE: | Supplemental Retention Bonus Plan | |
| DATE: | April 14, 2002 |
eBay Inc. (the “Company”) is pleased to provide you with this Supplemental Retention Bonus Plan (the “Plan”) to encourage you to remain employed by the Company. Set forth below is the Plan, which supplements your existing retention bonus plan for 2001-2004 as set forth in your offer letter with the Company, dated November 22, 2000.
Under the Plan, you are eligible to earn a one-time bonus amount of $280,000 (the “Supplemental Bonus Amount”) on November 27, 2004 (the “Bonus Payment Date”), subject to the terms and conditions below.
The Supplemental Bonus Amount is subject to standard payroll deductions and withholdings. You must be employed by the Company on the Bonus Payment Date in order to earn and receive the Supplemental Bonus Amount. You understand that if your employment ceases prior to the Bonus Payment Date for any reason, you will not be eligible to receive the Supplemental Bonus Amount and that no pro rata portion of the Supplemental Bonus Amount can be earned.
EBAY INC.
| By: | /s/ EILEEN NELSON | Date: April 14, 2002 | |
| Its: | Senior Vice President, Human Resources | ||
| Agreed and Accepted: | |||
| /s/ WILLIAM C. COBB | Date: April 14, 2002 | ||
| WILLIAM C. COBB | |||
