PAYPALHOLDINGS,INC.2015EQUITYINCENTIVEAWARDPLAN(MARKED) 12.2 Action by the Committee.UnlessotherwiseestablishedbytheBoardorinanycharteroftheCommittee,amajorityof theCommitteeshallconstituteaquorumandtheactsofamajorityofthememberspresentatanymeetingatwhicha quorumispresent,andactsapprovedinwritingbyamajorityoftheCommitteeinlieuofameeting,shallbedeemedthe actsoftheCommittee.EachmemberoftheCommitteeisentitledto,ingoodfaith,relyoractuponanyreportorother informationfurnishedto that memberbyanyofficerorotheremployeeoftheCompanyoranySubsidiary,theCompanys independentcertifiedpublicaccountants,oranyexecutivecompensationconsultantorotherprofessionalretainedbythe CompanytoassistintheadministrationofthePlan. 12.3 Authority of Committee.Subjectto any specificdesignationin the Plan, the Committeehas the exclusivepower, authority and discretion to: (a) DesignateParticipantsto receiveAwards; (b) DeterminethetypeortypesofAwardstobegrantedtoeachParticipant; (c) DeterminethenumberofAwardstobegrantedandthenumberofsharesofStocktowhichanAwardwillrelate; (d) DeterminethetermsandconditionsofanyAwardgrantedpursuanttothePlan,including,butnotlimitedto,the exerciseprice,grantprice,or purchaseprice,anyrestrictionsor limitationson the Award,any schedulefor vesting, lapseofforfeiturerestrictionsor restrictionson the exercisabilityof an Award, and accelerationsor waivers thereof, any provisionsrelatedto non-competitionandrecaptureofgainonanAward,basedineachcaseonsuchconsiderations astheCommitteeinitssolediscretiondetermines;provided,however,that,exceptasprovidedinArticle11ofthePlan, theCommitteeshallnothavetheauthoritytoacceleratethevestingorwaivetheforfeitureofanyperformance-based Awards; (e) Determinewhether,towhatextent,andpursuanttowhatcircumstancesanAwardmaybesettledin,ortheexercise price of an Awardmaybepaidin,cash,Stock,otherAwards,orotherproperty,oranAwardmaybecanceled, forfeited, or surrendered; (f) Prescribe the form of each Award Agreement,whichneednotbeidenticalforeachParticipant; (g) Decideall other matters that must be determinedin connectionwith an Award; (h) Establish, adopt, or revise any rules and regulations as it may deem necessaryor advisableto administerthe Plan, includingadoptingsub-planstothePlanorspecialtermsforAwardAgreements,forthepurposesofcomplyingwith non-U.S.lawsand/ortakingadvantageoftaxfavorabletreatmentforAwardsgrantedtoParticipantsoutsidetheUnited States(as further set forth in Section 4.2 of the Plan) as it may deem necessary or advisable to administer the Plan; (i) Interpret the terms of, and any matter arising pursuant to, the Plan or any Award Agreement; and (j) Make all other decisions and determinationsthat may be requiredpursuantto the Plan or as the Committeedeems necessaryoradvisabletoadministerthePlan. 12.4 DecisionsBinding.TheCommitteesinterpretationof thePlan,anyAwardsgrantedpursuanttothePlan,anyAward AgreementandalldecisionsanddeterminationsbytheCommitteewithrespecttothePlanarefinal,binding,and conclusiveonallparties. 12.5 Delegationof Authority. To the extent permittedby applicablelaw, the Board or the Committeemay from time to time delegatetoacommitteeofoneormoremembersoftheBoardoroneormoreofficersoftheCompanytheauthorityto grant or amendAwardstoParticipantsortoexerciseanyofthepower,authorityanddiscretiongrantedtotheCommittee pursuanttoSection12.3; provided,that(i) the CommitteeshallhavethesoleauthoritywithrespecttoAwardsgrantedtoor heldbyEmployeeswhoaresubjecttoSection16oftheExchangeActand(ii)officersoftheCompany(orDirectors)to whomauthorityhasbeendelegatedhereundershallnotbedelegatedsuchauthoritywithrespecttoAwardsgrantedtoor heldbysuchofficers(orDirectors).AnydelegationhereundershallbesubjecttotherestrictionsandlimitsthattheBoardor theCommitteespecifiesatthetimeofsuchdelegation,andtheBoardortheCommitteemayatanytimerescindthe authority so delegatedor appointa newdelegatee.Atall times,thedelegateeappointedunderthisSection12.5shallserve in such capacityat the pleasureof the Board or the Committee. ARTICLE13 EffectiveandExpirationDate 13.1 Effective Date. The effective date of this Plan is the date the Plan (as it may be amended and/or restated from time to time) is last approved by the Companysstockholders(the “EffectiveDate”). Each awardgrantedunderthePlanor subject to a written binding contract on or before November2, 2017 shall be subject to the Plan as in effect as of the date on which suchawardwasgranted,anditisintendedthateachsuchawardcontinuetobesubjecttoSection162(m)oftheCodeas in effect prior to the enactment of the Tax Cuts and Jobs Act. 134 •2023ProxyStatement