eBay 2003 Annual Report Download - page 82

$1,154,000 for 2004, and the terms of the bonus plan allowed those amounts to be used to pay principal
and interest owed to us under the terms of his loan. In August 2001 and August 2002, in accordance with
the terms of his loan, Mr. Webb paid down $355,200 and $449,900, respectively, of principal and accrued
interest on the loan. In January 2003, Mr. Webb prepaid in full the principal and accrued interest on his
loan in the amount of approximately $1,670,800. Mr. Webb's maximum indebtedness to eBay during 2003
was $1,670,800.
In May 2000, Mr. Jordan, our Senior Vice President, eBay North America, entered into two four-year
term loans with us at an interest rate of 6.40% per annum, with principal and accrued interest payable on
each loan in equal installments on each anniversary. The principal amounts on the loans were $1,000,000
and $900,000, respectively, with the loan amounts secured by Mr. Jordan's principal place of residence. In
May 2000, we entered into a special retention bonus plan with Mr. Jordan under which Mr. Jordan
received bonus payments in May of 2001, 2002, and 2003 and remains eligible to receive a bonus payment
in May 2004 if he is then employed by us. Payment amounts under this Mr. Jordan's bonus plan are
$314,000 for 2001, $298,000 for 2002, $282,000 for 2003, and $266,000 for 2004, the terms of the bonus
plan allowed those amounts to pay principal and interest owed to us under the loans described in this
paragraph. In July 2000, Mr. Jordan repaid in full the principal and accrued interest on the $900,000 term
loan. In addition, in April 2001, Mr. Jordan entered into a four-year term loan with us at an interest rate
of 4.94% per annum, with principal and accrued interest payable in equal installments on each anniversary
of this loan. The principal amount on this loan was $750,000, with the loan amount secured by
Mr. Jordan's principal place of residence. In April 2001, we entered into a second special retention bonus
plan with Mr. Jordan under which Mr. Jordan received bonus payments in April of 2002 and 2003 and
remains eligible to receive bonus payments in April 2004 and 2005 if he is then employed by us. Payment
amounts under this bonus plan with Mr. Jordan are $224,550 for 2002, $215,288 for 2003, $206,025 for
2004, and $196,763 for 2005, and the terms of the bonus plan allowed those amounts to be used to pay
principal and interest owed to us under the loans described in this paragraph. In May 2001, May 2002,
and May 2003, Mr. Jordan paid down $314,000, $298,000 and $282,000, respectively, of principal and
accrued interest on his May 2000 loan. In April 2002 and April 2003, Mr. Jordan paid down $224,550 and
$215,288, respectively, of principal and accrued interest on his April 2001 loan. In July 2003, Mr. Jordan
prepaid in full the principal and accrued interest on both the May 2000 and April 2001 loans in the
amounts of $252,762 and $380,380, respectively. Mr. Jordan's maximum indebtedness to eBay during 2003
was $1,118,288.
In March 2001, in connection with his relocation to San Jose as a result of his joining eBay in
November 2000, Mr. Cobb, our Senior Vice President and General Manager, eBay International, entered
into a four-year, non-interest bearing term loan with us in the amount of $840,000. The loan to Mr. Cobb
is secured by his principal place of residence. Principal payments of $70,000 are due on the Ñrst, second
and third anniversary, with a balloon payment of the remaining principal due on the fourth anniversary. In
November 2000, we entered into a special retention bonus plan with Mr. Cobb under which Mr. Cobb
received a $70,000 bonus payment in November of 2001, 2002 and 2003 and remains eligible to receive a
bonus payment in November 2004 if he is then employed by us. In April 2002, we entered into a second
special retention bonus plan with Mr. Cobb under which Mr. Cobb will receive a $280,000 bonus payment
in November 2004 if he is then employed by us. Mr. Cobb may use these bonus payments to pay principal
payments due under his loan. In each of November 2001, 2002 and 2003, Mr. Cobb paid down $70,000 of
principal on his loan. Mr. Cobb's maximum indebtedness to eBay during 2003 was $700,000. Mr. Cobb's
aggregate indebtedness to eBay as of March 1, 2004 was $630,000.
In September 2002, we entered into a special retention bonus plan with Mr. Bannick. Under the
terms of this bonus plan, Mr. Bannick received a $250,000 bonus payment after the closing of our
acquisition of PayPal in October 2002 and upon his acceptance of the new position as our Senior Vice
President and General Manager, Global Online Payments. In addition, the terms of the bonus plan
provided for three performance-based bonus payments of up to $250,000 related primarily to the
integration and performance of our PayPal subsidiary, payable on each of the nine months, 18 months, and
24 months after the October 2002 closing of the PayPal acquisition. Mr. Bannick received a $250,000
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