EBAY INC
EXHIBIT 10.27
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<TYPE>EX-10.27
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<FILENAME>f02570exv10w27.txt
<DESCRIPTION>EXHIBIT 10.27
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                                                                   EXHIBIT 10.27


                                    eBay Inc.

              DESCRIPTION OF EXECUTIVE MANAGEMENT INCENTIVE PROGRAM

     eBay maintains an Executive Management Incentive Program for employees
classified as Vice President and above (including its executive officers)
designed to reward participants based on their individual performance and the
company's financial performance. The program provides for (1) quarterly bonuses
based on financial targets for each quarter and on achievement of quarterly
individual goals, so long as minimum financial performance thresholds have been
met, and (2) an annual bonus based solely on the company's attainment of annual
financial targets. The quarterly and annual financial targets for the program
are set by the Compensation Committee of eBay's Board of Directors and are
currently based on the company's net revenue and pro forma net income.

     Total target bonus amounts for the company's executive officers (other than
the CEO) currently range from 60% to 75% of base salary, depending upon
position. The total target bonus amount for the company's Chief Executive
Officer for 2004 is 100% of base salary. Bonus payments are paid in four
quarterly components that in the aggregate are targeted to equal 50% of the
total target bonus amount, and an annual component targeted to equal the
remaining 50% of the total target bonus amount. Each of the quarterly bonus
components can range from 0% to 160% of an executive's target opportunity for
such quarterly component, based on the individual's performance and the
company's financial performance during that quarter. The annual bonus component
can range from 0% to 200% of an executive's target opportunity for the annual
component, based on the company's financial performance during the year.



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