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This excerpt taken from the EBAY DEF 14A filed Mar 19, 2009. AMENDMENT
AND TERMINATION
The Compensation Committee, subject to approval of our Board,
may terminate, amend, or modify the 2008 Plan at any time;
however, stockholder approval will be obtained for any amendment
to the extent necessary and desirable to comply with any
applicable law, regulation or stock exchange rule, to increase
the number of shares available under the 2008 Plan, to permit
the Compensation Committee or our Board to grant options with a
price below fair market value on the date of grant, or to extend
the exercise period for an option beyond ten years from the date
of grant. In addition, absent stockholder approval, no option
may be amended to reduce the per share exercise price of the
shares subject to such option below the per share exercise price
as of the date the option was granted and, except to the extent
permitted by the 2008 Plan in connection with certain changes in
capital structure, no option may be granted in exchange for, or
in connection with, the cancellation or surrender of an option
having a higher per share exercise price.
In no event may an award be granted pursuant to the 2008 Plan on
or after the tenth anniversary of the date the stockholders
initially approved the 2008 Plan.
This excerpt taken from the EBAY DEF 14A filed Apr 28, 2008. AMENDMENT
AND TERMINATION
The Compensation Committee, subject to approval of our Board,
may terminate, amend, or modify the 2008 Plan at any time;
however, stockholder approval will be obtained for any amendment
to the extent necessary and desirable to comply with any
applicable law, regulation or stock exchange rule, to increase
the number of shares available under the 2008 Plan, to permit
the Compensation Committee or our Board to grant options with a
price below fair market value on the date of grant, or to extend
the exercise period for an option beyond ten years from the date
of grant. In addition, absent stockholder approval, no option
may be amended to reduce the per share exercise price of the
shares subject to such option below the per share exercise price
as of the date the option was granted and, except to the extent
permitted by the 2008 Plan in connection with certain changes in
capital structure, no option may be granted in exchange for, or
in connection with, the cancellation or surrender of an option
having a higher per share exercise price.
In no event may an award be granted pursuant to the 2008 Plan on
or after the tenth anniversary of the date the stockholders
approve the 2008 Plan.
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