PAYPALHOLDINGS,INC.2015EQUITYINCENTIVEAWARDPLAN(MARKED) with respectto the Company,oranySubsidiary,affiliateor otherbusinessunit of the Company,eitherin absolute terms,termsofgrowthorascomparedtoanyincrementalincrease,ascomparedtoresultsofapeergroup,andmay becalculatedonaproformabasisorinaccordancewithGAAP. (b) The Committeemay,initsdiscretion,providethatoneormoreadjustmentsshallbemadetooneormoreofthe PerformanceGoals.Suchadjustmentsmayinclude,withoutlimitation,oneormoreofthefollowing:(i)itemsrelatedto PRO achangeinaccountingprinciple;(ii)itemsrelatingtofinancingactivities;(iii) expensesfor restructuringor productivity XY initiatives; (iv) other non-operating items; (v) items related to acquisitions; (vi) items attributable to the business S T A operationsof anyentityacquiredbytheCompanyduringthePerformancePeriod;(vii)itemsrelatedtothedisposalofa TEMENT businessorsegmentofabusiness;(viii)itemsrelatedtodiscontinuedoperationsthatdonotqualifyasasegmentofa businessunderGAAP;(ix)itemsattributabletoanystockdividend,stocksplit,combinationorexchangeofshares occurringduringthePerformancePeriod;(x)anyotheritemsofsignificantincomeorexpensewhicharedeterminedto beappropriateadjustments;(xi) itemsrelatingto unusual or extraordinarycorporatetransactions,eventsor developments;(xii) items relatedto amortizationof acquiredintangibleassets;(xiii) items that are outside the scope of theCompanyscore,on-goingbusinessactivities;or(xiv)itemsrelatingtoanyotherunusualornonrecurringeventsor changesinapplicablelaws,taxrates,accountingprinciplesorbusinessconditions. 2.29 “PerformanceGoals”means,foraPerformancePeriod,thegoalsestablishedinwritingbytheCommitteeforthe PerformancePeriodbaseduponthePerformanceCriteria.DependingonthePerformanceCriteriausedtoestablishsuch PerformanceGoals,thePerformanceGoalsmaybeexpressedintermsofoverallCompanyperformanceorthe performanceofadivision,businessunit,oranindividual.TheCommittee,initsdiscretion,mayadjustormodifythe calculationof PerformanceGoalsforsuchPerformancePeriodinordertopreventthedilutionorenlargementoftherights of Participants (a) in the event of, or in anticipation of, any unusual or extraordinary corporate item, transaction, event, or development,or(b)inrecognitionof,orinanticipationof,anyotherunusualornonrecurringeventsaffectingtheCompany, or the financial statementsof the Company,or in responseto, or in anticipationof, changesin applicablelaws, regulations, accountingprinciples,or businessconditions. 2.30 “PerformancePeriod”meanstheoneormoreperiodsoftime,whichmaybeofvaryingandoverlappingdurations,as theCommitteemayselect,overwhichtheattainmentofoneormorePerformanceGoalswillbemeasuredforthepurpose of determininga Participantsright to, and the payment of, a performance-basedAward. 2.31 “PerformanceShare”meansarightgrantedtoaParticipantpursuanttoSection8.1,toreceiveStock,thepaymentof whichiscontingentuponachievingcertainPerformanceGoalsorotherperformance-basedtargetsestablishedbythe Committee. 2.32 “PerformanceStockUnit”meansarightgrantedtoaParticipantpursuanttoSection8.2,toreceiveStock,thepayment of whichis contingentuponachievingcertainPerformanceGoalsorotherperformance-basedtargetsestablishedbythe Committee. 2.33 “Plan” meansthis PayPalHoldings,Inc.AmendedandRestated2015EquityIncentiveAwardPlan,asitmaybe amendedfromtimetotime. 2.34 “RestrictedStock” meansStockawardedtoaParticipantpursuanttoArticle6thatissubjecttocertainrestrictionsand maybesubjecttoriskofforfeiture. 2.35 “RestrictedStock Unit” meansan AwardgrantedpursuanttoSection8.6. 2.36 “Securities Act” shall mean the U.S. Securities Act of 1933, as amended. 2.37 “Spin-Off” means the distribution of shares of Stock to the stockholdersof eBay Inc. on July 17, 2015, pursuant to the SeparationandDistributionAgreementbetweentheCompanyandeBayInc.,datedasofJune26,2015,enteredintoin connectionwithsuchdistribution. 2.38 “Stock” meansthecommonstockoftheCompany,parvalue$0.0001pershare,andsuchothersecuritiesofthe CompanythatmaybesubstitutedforStockpursuanttoArticle12. 2.39 “Stock AppreciationRight” or “SAR” meansa right grantedpursuantto Article7 to receivea paymentequalto the excessoftheFairMarketValueofaspecifiednumberofsharesofStockonthedatetheSARisexercisedovertheFair MarketValueonthedatetheSARwasgrantedassetforthintheapplicableAwardAgreement. 2.40“StockPayment”means(a)apaymentintheformofsharesofStock,or(b)anoptionorotherrighttopurchaseshares of Stock, as part of any bonus, deferred compensationor other arrangement,madein lieu of all or any portion of a benefit or compensation,grantedpursuanttoSection8.4. 2.41 “Subsidiary” means any entity (other than the Company), whetherdomesticor foreign,in an unbrokenchainof entities beginningwiththeCompanyif,atthetimeofthedetermination,eachoftheentitiesotherthanthelastentityinthe •2023ProxyStatement 123