An offering period is a consecutive 24-month period during which eligible employees can participate in the ESPP. Each offering period includes 4 six-month purchase periods.

The purchase date is the last business day of each 6-month purchase period and is the date on which the ESPP shares are purchased.

You must be an employee of PayPal or a participating PayPal subsidiary for at least 10 working days before an offering period begins.

No. Once you become a participant, you are automatically enrolled in subsequent offering periods unless you withdraw from the plan or become ineligible to participate.

Yes. The program was approved by SAFE in September 2012.

By law, you may not purchase shares under the plan exceeding $25,000 USD worth of stock in any calendar year calculated using the Fair Market Value of PayPal stock on the first day of the offering period in which you are participating. PayPal may suspend your payroll deductions as necessary to enforce this limit. Additionally, no employee may purchase more than 5,000 shares for any single purchase date.

Any unused payroll deductions in your account will be refunded to you in your final paycheck without interest (unless local law provides otherwise).

Due to SAFE regulations, any shares acquired under the plan must be sold before the last trading day of the third month following termination of active employment with a PayPal company. If the shares have not been sold by that date, E*TRADE will automatically sell all shares on your behalf on the last trading day of the third month following termination of active employment (PRC National’s only).