Amendment to eBay Inc. Incentive Plan Regarding Clawback Provisions

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This amendment, effective April 2, 2012, modifies the eBay Inc. Incentive Plan to allow the company to recover or forfeit incentive awards, including cash, stock, or other property, under any clawback or recoupment policy it adopts. This includes policies required by law, such as those under the Dodd-Frank Act. The amendment ensures that all incentive awards are subject to these potential recovery provisions, providing eBay with the right to reclaim awards if necessary.

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EX-10.03 4 exhibit1003-amendmenttoeba.htm EXHIBIT 10.03 Exhibit 10.03 - Amendment to eBay Incentive Plan

Exhibit 10.03
AMENDMENT TO THE
EBAY INCENTIVE PLAN
WHEREAS, eBay Inc. (the “Company”) previously adopted and maintains the eBay Incentive Plan (the “Plan”); and
WHEREAS, the Company desires to amend the Plan to subject Plan awards and any cash payment, stock or other property delivered pursuant to Plan awards to any clawback or recoupment provision or policy which the Company may adopt from time to time.
NOW THEREFORE, pursuant to the power of amendment contained in Section 13(b) of the Plan, the Plan is hereby amended, effective as of April 2, 2012, as follows:
1. Sections 13 and 14 of the Plan are hereby amended by redesignating such sections and all references to such sections as Sections 14 and 15, respectively.
2.    A new section of the Plan, titled “Incentive Awards Subject to Clawback” is hereby inserted as Section 13 of the Plan as follows:

13. INCENTIVE AWARDS SUBJECT TO CLAWBACK.
The Incentive Awards and any cash payment, stock or other property delivered pursuant to an Incentive Award are subject to forfeiture, recovery by the Company or other action pursuant to any agreement evidencing an Incentive Award or any clawback or recoupment policy which the Company may adopt from time to time, including without limitation any such policy which the Company may be required to adopt under the Dodd-Frank Wall Street Reform and Consumer Protection Act and implementing rules and regulations thereunder, or as otherwise required by law.

eBay Inc.
By:     /s/ Michael R. Jacobson
Corporate Secretary