EXHIBIT 10.17
December 31, 2014
Daniel Schulman
c/o eBay Inc.
2065 Hamilton Avenue
San Jose, California 95125
Dear Dan:
This letter will serve as an amendment to the employment offer letter between you and eBay Inc. (the Company) dated September 29, 2014 (the Letter). Among other items, the Letter describes an equity clawback make-good payment (the Equity Clawback Make-good Payment) to cover the pre-tax income you would be required to repay your current employer for amounts realized in the 24 months prior to your termination of employment, up to a total amount of $10,496,388. You agreed to work with the Companys counsel to negotiate with your now former employer to avoid the imposition of the clawback to the extent possible, and have done so.
In the course of negotiations, your prior employer claimed that it was entitled to a greater amount in repayment, on the grounds that additional awards would be encompassed under the employers clawback agreements. The Company and you have disputed that claim, and the parties have now come to a compromise to resolve any and all claims of your former employer. As a result, the amount of the Equity Clawback Make-good Payment will be in the amount of up to $13,800,000.00.
Except as specifically set forth in this amendment, all other terms and conditions of the Letter will remain in full force and effect.
Very truly yours,
| /s/ John Donahoe |
| John Donahoe |
| President and Chief Executive Officer |
| eBay Inc. |
| ACCEPTED: |
| /s/ Daniel Schulman |
| Daniel Schulman |
| December 31, 2014 |