PAYPALHOLDINGS,INC.2015EQUITYINCENTIVEAWARDPLAN(MARKED) Inc. entered into in connection with the Spin-Off; provided, that following July 17, 2015, each such Award shall relate solely to shares of Stock and be administeredby the Committeein accordancewiththeadministrativeproceduresineffectunder this Plan. 15.7 Indemnification.To the extent allowable pursuant to applicablelaw, each memberof the Committeeor of the Board andeachpersontowhomtheCommitteedelegatesitsauthorityunderSection12.5shallbeindemnifiedandheldharmless bytheCompanyfromanyloss,cost,liability,orexpensethatmaybeimposeduponorreasonablyincurredbysuch memberinconnectionwithorresultingfromanyclaim,action,suit,orproceedingtowhichheorshemaybeapartyorin whichheorshemaybeinvolvedbyreasonofanyactionorfailuretoactpursuanttothePlanandagainstandfromanyand all amountspaidbyhimorherinsatisfactionofjudgmentinsuchaction,suit,orproceedingagainsthimorher;providedhe or she gives the Companyanopportunity,atitsownexpense,tohandleanddefendthesamebeforeheorsheundertakes to handleanddefenditonhisorherownbehalf.Theforegoingrightofindemnificationshallnotbeexclusiveofanyother rights of indemnificationto which such personsmay be entitledpursuantto the CompanysCertificateof Incorporationor Bylaws,asamatteroflaw,orotherwise,oranypowerthattheCompanymayhavetoindemnifythemorholdthem harmless. 15.8 Relationshipto Benefits. No paymentpursuantto the Plan shall be taken into account in determiningany benefits pursuanttoanyseverance,resignation,termination,redundancy,endofservicepayments,long-termserviceawards, pension,retirement,savings,profit sharing,group insurance,welfareor benefitplan of the Companyor any Subsidiary excepttotheextentotherwiseexpresslyprovidedinwritinginsuchotherplanoranagreementthereunder. 15.9 Effect of Plan upon CompensationPlans.The adoptionof the Plan shall not affect any compensationor incentiveplans in effect for the Company or any Subsidiary.Nothing in the Plan shall be construed to limit the right of the Company or any Subsidiary:(a) to establish any forms of incentives or compensationfor Employees,Directorsor Consultantsof the CompanyoranySubsidiary,or(b)tograntorassumeoptionsorotherrightsorawardsotherwisethanunderthePlanin connectionwithanypropercorporatepurposeincluding,withoutlimitation,thegrantorassumptionofoptionsin connectionwiththeacquisitionbypurchase,lease,merger,consolidationorotherwise,ofthebusiness,stockorassetsof anycorporation,partnership,limitedliability company,firm or association. 15.10 AwardsSubjecttoClawback.TheAwardsandanycashpaymentorsharesofStockdeliveredpursuanttoanAward are subject to forfeiture, recovery by the Company or other action pursuant to the applicableAward Agreementor any clawbackorrecoupmentpolicywhichtheCompanymayadoptfromtimetotime,includingwithoutlimitationanysuch policy whichtheCompanymayberequiredtoadoptundertheDodd-FrankWallStreetReformandConsumerProtection Actandimplementingrulesandregulationsthereunder,orasotherwiserequiredbylaw. 15.11 Expenses.The expensesofadministeringthePlanshallbebornebytheCompanyanditsSubsidiaries. 15.12 Titles and Headings. The titles and headings of the Sections in the Plan are for convenienceof referenceonly and, in theeventofanyconflict,thetextofthePlan,ratherthansuchtitlesorheadings,shallcontrol. 15.13 Fractional Shares. No fractional shares of Stock shall be issued and the Committee shall determine,in its discretion, whethercashshallbegiveninlieuoffractionalsharesorwhethersuchfractionalsharesshallbeeliminatedbyroundingup or downasappropriate. 15.14 Limitations Applicableto Section 16 Persons. Notwithstandingany other provision of the Plan, the Plan, and any Award grantedorawardedtoanyParticipantwhoisthensubjecttoSection16oftheExchangeAct,shallbesubjecttoany additional limitations set forth in any applicable exemptive rule under Section 16 of the Exchange Act (including any amendmenttoRule16b-3undertheExchangeAct)thatarerequirementsfortheapplicationofsuchexemptiverule.Tothe extentpermittedbyapplicablelaw,thePlanandAwardsgrantedorawardedhereundershallbedeemedamendedtothe extentnecessarytoconformtosuchapplicableexemptiverule. 15.15 CompliancewithLaws.ThePlan,thegrantingandvestingofAwardsunderthePlanandtheissuanceanddeliveryof sharesofStockandthepaymentofmoneyunderthePlanorunderAwardsgrantedorawardedhereunderaresubjectto compliancewithallapplicablefederal,state,localandforeignlaws,rulesandregulations(includingbutnotlimitedtostate, federal and foreign securities law and margin requirements)and to such approvalsby any listing, regulatoryor governmentalauthorityasmay,intheopinionofcounselfortheCompany,benecessaryoradvisableinconnection therewith.TheCompanyshallhavenoobligationtoissueordeliversharesofStockpriortoobtaininganyapprovalsfrom listing, regulatory or governmentalauthority that the Company determinesare necessaryor advisable.Any securities deliveredunderthePlanshallbesubjecttosuchrestrictions,andthepersonacquiringsuchsecuritiesshall,ifrequestedby theCompany,providesuchassurancesandrepresentationstotheCompanyastheCompanymaydeemnecessaryor desirableto assurecompliancewithallapplicablelegalrequirements.TheCompanyshallbeundernoobligationto register pursuant to the Securities Act, any of the shares of Stock paid pursuant to the Plan. To the extent permitted by applicablelaw,thePlanandAwardsgrantedorawardedhereundershallbedeemedamendedtotheextentnecessaryto conformtosuchlaws,rulesandregulations. 136 •2023ProxyStatement