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This excerpt taken from the EBAY DEF 14A filed May 16, 2005. Performance
Under the eIP, the Compensation Committee will determine the
quarterly, fiscal year, or other performance period for
measuring actual performance. The Compensation Committee will
establish for each performance period:
Performance measures may be based on a selection of measurable
business criteria, including trading volume, users, gross
merchandise volume, total payment volume, revenue, operating
income, EBITDA, net income, earnings per share, return on assets
or equity, cash flow, net or operating margin, economic profit,
stock price appreciation, total stockholder return, employee
productivity, and customer satisfaction metrics. These measures
may be described in terms of growth, an absolute number, or
relative to an external group, and may be calculated on a GAAP
or pro forma basis.
The Compensation Committee may set performance periods and
performance goals that differ from participant to participant.
This may include designating performance goals on either
company-wide or business unit performance, as appropriate for a
participant’s specific responsibilities.
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