PAYPALHOLDINGS,INC.2015EQUITYINCENTIVEAWARDPLAN(MARKED) 13.2 Expiration Date. The Plan will expire on, and no Award may be granted pursuant to the Plan after the tenth anniversary of the Effective Date, except that no Incentive Stock Options may be granted under the Plan after the earlier of the tenth anniversaryof (a) the date the Plan is approved by the Board or (b) the Effective Date. Any Awards that are outstanding on thetenthanniversaryoftheEffectiveDateshallremaininforceaccordingtothetermsofthePlanandtheapplicableAward Agreement. PRO XY ARTICLE14 S T Amendment,Modification,andTermination A 14.1 Amendment,Modification,andTermination.SubjecttoSection15.16,withtheapprovaloftheBoard,atanytimeand TEMENT fromtimetotime,theCommitteemayterminate,amendormodifythePlan;provided,however,that(a)totheextent necessaryanddesirabletocomplywithanyapplicablelaw,regulation,orstockexchangerule,theCompanyshallobtain stockholderapprovalofanyPlanamendmentinsuchamannerandtosuchadegreeasrequired,and(b)stockholder approvalshallberequiredforanyamendmenttothePlanthat(i)increasesthenumberofsharesavailableunderthePlan (other than any adjustmentas providedby Article12), (ii) permits the Committeeto grant Options with an exerciseprice that is belowFair MarketValueonthedateofgrant,(iii)permitstheCommitteetoextendtheexerciseperiodforanOption beyondtenyearsfromthedateofgrantor(iv)amendsSection9.8ofthePlan. 14.2 AwardsPreviouslyGranted.ExceptwithrespecttoamendmentsmadepursuanttoSection15.16,notermination, amendment,ormodificationofthePlanshalladverselyaffectinanymaterialwayanyAwardpreviouslygrantedpursuantto thePlanwithoutthepriorwrittenconsentoftheParticipant. ARTICLE15 GeneralProvisions 15.1 No Rights to Awards. No Eligible Individual or other person shall have any claim to be granted any Award pursuant to thePlan,andneithertheCompanynortheCommitteeisobligatedtotreatEligibleIndividuals,Participantsoranyother personsuniformly. 15.2 No StockholdersRights.Exceptasotherwiseprovidedherein,aParticipantshallhavenoneoftherightsofa stockholderwithrespecttosharesofStockcoveredbyanyAwarduntiltheParticipantbecomestherecordownerofsuch sharesofStock. 15.3 Withholding.The CompanyoranySubsidiaryshallhavetheauthorityandtherighttodeductorwithhold(byanymeans set forth herein or in an Award Agreement),or require a Participantto remit to the Company or a Subsidiary,an amount sufficient to satisfy federal, state, local and foreign income tax, social insurance, payroll tax, fringe benefits tax, payment on accountorothertax-relateditemsrelatedtoparticipationinthePlanandlegallyapplicabletoParticipantandrequiredby lawtobewithheld(includinganyamountdeemedbytheCompanyortheParticipantsemployer,initsdiscretion,tobean appropriatechargetotheParticipanteveniflegallyapplicabletotheCompanyortheParticipantsemployer).The Committeemay,initsdiscretionandinsatisfactionoftheforegoingrequirement,allowaParticipanttoelecttohavethe CompanywithholdsharesofStockotherwiseissuableunderanAward(orallowthereturnofsharesofStock)havingaFair MarketValueequaltothesumsrequiredtobewithheld.NotwithstandinganyotherprovisionofthePlan,thenumberof sharesofStockwhichmaybewithheldwithrespecttotheissuance,vesting,exerciseorpaymentofanyAward(orwhich mayberepurchasedfromtheParticipantofsuchAwardwithinsixmonths(orsuchotherperiodasmaybedeterminedby theCommittee)aftersuchsharesofStockwereacquiredbytheParticipantfromtheCompany)inordertosatisfythe Participants federal, state, local and foreign income and payroll tax liabilities with respect to the issuance, vesting, exercise or paymentoftheAward(asdescribedabove)shallbelimitedtothenumberofshareswhichhaveaFairMarketValueon thedateofwithholdingorrepurchaseequaltotheaggregateamountofsuchliabilitiesbasedontheminimumstatutory withholdingamountsorotherapplicablewithholdingratestotheextentthatthewithholdingorrepurchaseofsharesin excessofsuchminimumstatutoryamountwouldresultinadverseaccountingconsequencestotheCompany. 15.4 No Right to Employmentor Services.Nothingin thePlanor anyAwardAgreementshallinterferewithorlimitinanyway theright of the CompanyoranySubsidiarytoterminateanyParticipantsemploymentorservicesatanytime,norconfer uponanyParticipantanyrighttocontinueintheemployorserviceoftheCompanyoranySubsidiary. 15.5 UnfundedStatusofAwards.ThePlanisintendedtobean“unfunded”planforincentivecompensation.Withrespectto anypaymentsnotyetmadetoaParticipantpursuanttoanAward,nothingcontainedinthePlanoranyAwardAgreement shall give the Participant any rights that are greater than those of a general creditor of the Company or any Subsidiary. 15.6 AssumedSpin-OffAwards.NotwithstandinganythinginthisPlantothecontrary,eachAssumedSpin-OffAwardshall besubjecttothetermsandconditionsoftheequitycompensationplanandawardagreementtowhichsuchAwardwas subjectimmediatelypriortotheSpin-Off,subjecttotheadjustmentofsuchAwardbytheCompensationCommitteeof eBayInc.andthetermsoftheEmployeeMattersAgreement,datedasofJuly17,2015,betweentheCompanyandeBay •2023ProxyStatement 135