Delaware
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77-0430924
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(State or other jurisdiction of
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(IRS Employer
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incorporation)
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Identification No.)
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- Lorrie Norrington is resigning as President of eBay Marketplaces; and
Ms. Norrington's separation date will be March 3, 2011 and she will work with Mr. Donahoe and the company on the transition until such time. Under the terms of a separation agreement, subject to certain conditions, Ms. Norrington will receive a severance payment in the form of a lump sum payment in the amount of $695,000 (equivalent to Ms. Norrington's annual base salary) and payment of COBRA premiums for the 18-month period following termination. Subject to certain conditions, Ms. Norrington will be eligible for 12 months of accelerated vesting upon her separation, which will consist of the vesting of 28,375 restricted stock units and 120,000 stock options and the vesting of the remaining one-half of her performance-based restricted stock units earned in the 2009-2010 performance period based on actual 2009 and 2010 performance.
A copy of eBay's press release announcing these management changes is attached as an exhibit to this filing.
eBay Inc.
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Date: September 21, 2010
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By:
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/s/ Brian H. Levey
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Brian H. Levey
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Vice President, Deputy General Counsel, and Assistant Secretary
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Exhibit No.
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Description
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EX-99.1
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Press release dated September 21, 2010
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