PAYPALHOLDINGS,INC.2015EQUITYINCENTIVEAWARDPLAN(MARKED) ARTICLE6 RestrictedStockAwards 6.1 Grant of Restricted Stock. (a) The CommitteeisauthorizedtomakeAwardsofRestrictedStocktoanyEligibleIndividualselectedbythe PRO CommitteeinsuchamountsandsubjecttosuchtermsandconditionsasdeterminedbytheCommittee.AllAwardsof XY RestrictedStockshallbeevidencedbyanAwardAgreement. S T A (b) The Committeeshallestablishthepurchaseprice,if any,andformofpaymentforRestrictedStock;provided, TEMENT however,thatsuchpurchasepriceshallbenolessthantheparvalueoftheStocktobepurchased,unlessotherwise permittedbyapplicablestatelaw.Inallcases,legalconsiderationshallberequiredforeachissuanceofRestricted Stock. 6.2 IssuanceandRestrictions.All sharesof RestrictedStock(includingany sharesreceivedbyParticipantsthereofwith respecttosharesofRestrictedStockasaresultofstockdividends,stocksplitsoranyotherformofrecapitalization)shall,in thetermsofeachindividualAwardAgreement,besubjecttosuchrestrictionsontransferabilityandotherrestrictionsand vestingrequirementsastheCommitteeshallprovide.Suchrestrictionsmayinclude,withoutlimitation,restrictions concerningvotingrightsandtransferabilityandsuchrestrictionsmaylapseseparatelyorincombinationatsuchtimesand pursuanttosuchcircumstancesorbasedonsuchcriteriaasselectedbytheCommittee,including,withoutlimitation, criteria based on the Participantsduration of employment,directorshipor consultancywith the Company,Performance Criteria, Companyperformance,individualperformanceorothercriteriaselectedbytheCommittee.Byactiontakenafter theRestrictedStockisissued,theCommitteemay,onsuchtermsandconditionsasitmaydeterminetobeappropriate, acceleratethevestingofsuchRestrictedStockbyremovinganyoralloftherestrictionsimposedbythetermsoftheAward Agreement.RestrictedStockmaynotbesoldorencumbereduntilallrestrictionsareterminatedorexpire. 6.3 RepurchaseorForfeitureof RestrictedStock.If no pricewaspaidbytheParticipantfortheRestrictedStock,upona TerminationofServicetheParticipantsrightsin unvestedRestrictedStockthensubjecttorestrictionsshalllapse,andsuch RestrictedStockshallbesurrenderedtotheCompanywithoutconsideration.IfapricewaspaidbytheParticipantforthe RestrictedStock,uponaTerminationofServicetheCompanyshallhavetherighttorepurchasefromtheParticipantthe unvestedRestrictedStockthensubjecttorestrictionsatacashpricepershareequaltothepricepaidbytheParticipantfor suchRestrictedStockorsuchotheramountasmaybespecifiedintheAwardAgreement.TheCommitteeinitsdiscretion mayprovidethatintheeventofcertainevents,includingaChangeinControl,theParticipantsdeath,retirementor disability or any other specified Termination of Service or any other event, the Participantsrights in unvested Restricted Stockshallnotlapse,suchRestrictedStockshallvestand,ifapplicable,theCompanyshallnothavearightofrepurchase. 6.4 Certificates for Restricted Stock. Restricted Stock granted pursuant to the Plan may be evidencedin such manner as the Committeeshalldetermine.IfcertificatesrepresentingsharesofRestrictedStockareregisteredinthenameofthe Participant, certificates must bear an appropriatelegend referring to the terms, conditions, and restrictionsapplicableto suchRestrictedStock,andtheCompanymay,atitsdiscretion,retainphysicalpossessionofthecertificateuntilsuchtime asall applicablerestrictionslapse. 6.5 Section 83(b) Election. If a Participant makes an election under Section 83(b) of the Code to be taxed with respect to theRestrictedStockasofthedateoftransferoftheRestrictedStockratherthanasofthedateordatesuponwhichthe ParticipantwouldotherwisebetaxableunderSection83(a)oftheCode,theParticipantshallberequiredtodeliveracopy of such election to the Companypromptlyafterfiling such electionwith the InternalRevenueService. ARTICLE7 StockAppreciationRights 7.1 Grant of Stock AppreciationRights. (a) A Stock AppreciationRight may be grantedto any Eligible Individualselectedby the Committee.A Stock AppreciationRightshallbesubjecttosuchtermsandconditionsnotinconsistentwiththePlanastheCommitteeshall imposeandshallbeevidencedbyanAwardAgreement. (b) A Stock Appreciation Right shall entitle the Participant (or other person entitled to exercise the Stock Appreciation Right pursuant to the Plan) to exercise all or a specified portion of the Stock Appreciation Right (to the extent then exercisable pursuant to its terms) and to receive from the Company an amount equal to the product of (i) the excess of (A) the Fair Market Value of the Stock on the date the Stock Appreciation Right is exercised over (B) the Fair Market Value of the Stock on the date the Stock Appreciation Right was granted and (ii) the number of shares of Stock with respect to whichtheStockAppreciationRightisexercised,subjecttoanylimitationstheCommitteemayimpose.Exceptas describedin(c)below,theexercisepricepershareofStocksubjecttoeachStockAppreciationRightshallbesetbythe Committee,butshallnotbelessthan100%oftheFairMarketValueonthedatetheStockAppreciationRightisgranted. •2023ProxyStatement 127