This excerpt taken from the EBAY DEF 14A filed Apr 28, 2008.
APPROVAL OF OUR 2008 EQUITY INCENTIVE AWARD PLAN
We are asking you to approve the eBay Inc. 2008 Equity Incentive Award Plan. Our Board has adopted, subject to stockholder approval, the eBay Inc. 2008 Equity Incentive Award Plan, or the 2008 Plan, for members of our Board and employees and consultants of our company and its subsidiaries. The 2008 Plan will become effective if the 2008 Plan is approved by the affirmative vote of a majority of the votes cast with respect to the proposal by the shares present in person or represented by proxy and entitled to vote thereon at the Annual Meeting of Stockholders. A majority of votes cast means that the number of votes FOR the approval of the 2008 Plan must exceed the number of votes AGAINST the approval of the 2008 Plan.