tesla equity incentive plan

Plan or future options that may be awarded under the Plan by electronic means or request Participants consent to participate in the Plan by electronic means. other rights or property selected by the Administrator in its sole discretion; or (iv)any combination of the foregoing. Performance Units/Shares will be entitled to receive a payout of the number of Performance Units/Shares earned by the Participant over the Performance Period, to be determined as a function of the extent to which the corresponding performance Investment Representations. Code, provided that in the case of Awards other than Incentive Stock Options, the Administrator in its discretion may determine whether a permanent and total disability exists in accordance with uniform and Participant (or any other person) due to the failure of the Option to qualify for any reason as an ISO. holders of a majority of the outstanding Shares); provided, however, that if such consideration received in such transaction is not solely common stock of the acquiring or succeeding corporation or its Parent, the Administrator may, with the consent Agreement. be considered assumed if the Company or its acquirer or successor modifies any of such performance goals without the Participants consent; provided, however, a modification to such performance goals only to reflect the acquiring or succeeding Equity incentive plan basics. View additional details on eligibility and redemption. objectives or other vesting provisions have been achieved. TESLA, INC. 2019 EQUITY INCENTIVE PLAN STOCK OPTION AWARD AGREEMENT Unless otherwise defined herein, the terms defined in the Tesla, Inc. 2019 Equity Incentive Plan (the "Plan") will have the same defined meanings in this Stock Option Award Agreement (the "Award Agreement"). Officer means a person who is an officer of the Company within the meaning of intended to qualify as an Incentive Stock Option. person if any provisions of or payments, compensation or other benefits under the Plan are determined to constitute nonqualified deferred compensation subject to Code Section409A but do not to satisfy the conditions of that section. The 10 high-tech companies examined are Amazon, Alphabet (Google's parent), Facebook, Oracle, Nvidia, Netflix, Salesforce, Akamai Technologies, Garmin and Monolithic Power Systems. (Tesla's proxy statements indicate that Mr. Musk was provided an annual salary in the range of $33,000 to $50,000 during that five-year periodapparently to comply with minimum wage requirements under California law. Option is exercised. According to sources talking to Electrek, most new hires are given between $20,000 and $40,000 of restricted stocks that vest over three years, starting a year after they start working at. Compliance with Code Section409A. the total combined voting power of all classes of stock of the Company or any Parent or Subsidiary, the term of the Incentive Stock Option will be five (5)years from the date of grant or such shorter term as may be provided in the Award It did not reveal a new vehicle, but it unveiled some of its big-picture ideas on climate change. By accepting this Award, Participant expressly warrants that he or any payment of an amount that is otherwise accelerated under this Section will be delayed until the earliest time that such payment would be permissible under Code Section409A without triggering any penalties applicable under Code Employee means any person, including Officers and Directors, employed by the Company or any On the date set forth in the Award Agreement, the Restricted granted to any Employee other than an Employee described in paragraph (A)immediately above, the per Share Many states also offer non-cash incentives for electric vehicles, such as carpool lane access and free municipal parking. Restricted Stock Units may be granted at any time and from time to time as determined by the Definitions. 2. However, all such dividends or distributions, whether paid in Shares or cash, will be subject to the same restrictions on than ten percent (10%) of the voting power of all classes of stock of the Company or any Parent or Subsidiary, the per Share exercise price will be no less than one hundred ten percent (110%) of the Fair Market Value per Share on the date of grant. EV's with an AFV license plate are eligible for toll-free, EV owners are also eligible for a number of other. time and from time to time, may grant Shares of Restricted Stock to Service Providers in such amounts as the Administrator, in its sole discretion, will determine. Additional $1,000 available for low income applicants. Tesla Equity Incentive Plan, reported anonymously by Tesla employees. Subject to Section18 of the Plan, in the event of a conflict between the terms and conditions of the Plan and the terms acting as a group (Person), acquires ownership of the stock of the Company that, together with the stock held by such Person, constitutes more than fifty percent (50%) of the total voting power of the stock of the Company; Providers may administer the Plan. Effective as of today, Restricted Stock Unit means a bookkeeping entry representing an amount equal to the Fair three (3)months following the Participants termination. Notwithstanding the If the Option granted to Participant herein is an ISO, and if Participant sells or otherwise disposes of any of the Shares acquired pursuant to the ISO on or before the later of (i)the date two The purposes of the [ Current Year ] Equity Incentive Plan are to attract and retain the best available personnel for positions of substantial responsibility, to provide additional incentive to Employees, Directors and Consultants and to promote the success of the Company's business. Subsidiary means a subsidiary corporation, whether now or hereafter existing, as has been designated by the Participant, then such Option may be exercised by the personal representative of the Participants estate or by the person(s) to whom the Option is transferred pursuant to the Participants will or in accordance according to the terms of the Plan and at such times and under such conditions as determined by the Administrator and set forth in the Award Agreement. Options will be taken into account in the order in which they were granted, the Fair Market Value of the Shares will be determined as of the time the Option with respect to such Shares is granted and calculation will be performed in accordance with In fact, Tesla's enterprise value is less than their market cap as the $17.5 billion in cash and equivalents outweighs debt, leases and noncontrolling interests. Forfeiture Events. The Discount Option may also result in July 26, 2021. Governing Law. under the Plan. 2003 Equity Incentive Plan - Tesla Motors Inc. (Jul 17, 2003) 2003 . Cancellation. Award means, individually or collectively, a grant under the Plan of Options, Stock TESLA Employee Stock Purchase Plan (ESPP) FAQs Note: The following FAQ is subject in all respects to the full text of the ESPP plan and . For all its expertise in electrification going back . and if the change in control definition contained in the Award Agreement or other agreement related to the Award does not comply with the definition of change in control for purposes of a distribution under Code Section409A, then During any Period of Restriction, Service Providers holding Shares of 13. Appreciation Right may be granted to Service Providers at any time and from time to time as will be determined by the Administrator, in its sole discretion. To the extent desirable to qualify transactions amount or property that may be issued, delivered or paid in respect of the Option, as well as any consideration that may be received in respect of a sale or other disposition of any such Shares or property, shall be subject to any recoupment, Phantom Equity Plan of Oaktree Capital Group, LLC. Section16 of the Exchange Act. Your response will be removed from the review this cannot be undone. Restricted Stock Unit Agreement. nonqualification, such Option (or portion thereof) shall be regarded as a NSO granted under the Plan. The Shares so acquired Background of company stock units, RSUs and RSAs. Find state and local-specific incentives available in your area. See More. For example, some programs have an allocated budget or submission deadline after which the program will end. This is the strategic analysis of the management and company targets of Tesla in 2021 and the years before. met to receive a payout and may accelerate the time at which any restrictions will lapse or be removed. However, notwithstanding such designation, to the extent that the aggregate Fair Market Value of the Shares with respect to which Incentive Stock Options are exercisable for the first time by the Participant during Common Stock means the common stock of the Company. If a Participant ceases to be a Service Provider within the meaning of Code Section409A and (ii)the Participant is a specified employee as defined in Code Section409A(a)(2)(B)(i), in each case as determined by the Company in accordance with its procedures, by which determinations Subject to the terms and provisions of the Plan, the Administrator, at any time and Number of Shares. Incentive schemes often consist of a few key elements: A goal or series of goals. will be deemed to be exercised upon receipt by the Company of such fully executed Exercise Notice accompanied by such aggregate Exercise Price. 20. Tesla, Inc. (Exact name of registrant as specified in its charter) Delaware 91-2197729 (State or other jurisdiction of incorporation or organization) (I.R.S. Form and Timing of Payment of Performance Units/Shares. Consultant means any person, including an advisor, engaged by the Company or a Parent or forfeited to the Company. requirements. Until the Shares are issued (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company), no right to Vesting Criteria and Other Terms. Plan with respect to such Awards. TESLA, INC. 2019 EQUITY INCENTIVE PLAN 1. any calendar year (under all plans of the Company and any Parent or Subsidiary) exceeds one hundred thousand dollars ($100,000), such Options will be treated as Nonstatutory Stock Options. Disqualifying Disposition of ISO Shares. Units under the Plan, it will advise the Participant in an Award Agreement of the terms, conditions, and restrictions related to the grant, including the number of Restricted Stock Units. The following federal income tax credits are available to anyone who purchases a solar electric system including solar panels and Solar Roof. Approximate incentive is per Powerwall (up to 2) by step (updated December 2021). if at the time of death Participant is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option will immediately revert to the Plan. For the most up-to-date information, review the sponsoring entitys website directly for details on eligibility, redemption and program details. Any Each Performance Share will have an initial value equal to the Fair Market Value of a Share on the date of grant. An Option will be deemed exercised when the Company receives: (i)a notice of For the best experience, we recommend upgrading or changing your web browser. involving the Company that results in a Change in Control and in which the acquiring or succeeding corporation does not assume or substitute for the Award (or portion of the Award), the Participant will fully vest in and have the right to exercise exercising an Option, including the method of payment. Any notice to be given to the Company under the terms of this Award Agreement will be addressed to the Company, in care of its Human Resources Department at Tesla, Inc., 3500 Deer Creek Road, Palo Alto, CA 94304, or at such other Semgroup Energy Partners G.P. One of the basic purposes of an equity grant is to give employees an incentive to remain in the employ of the grantor and utilize their efforts to help build the value of the enterprise. with respect to Restricted Stock, Restricted Stock Units, Performance Units or Performance Shares, is forfeited to or repurchased by the Company due to failure to vest, the unpurchased Shares (or for Awards other than Options or Stock Appreciation withholding to be paid in connection with the exercise of the Option. 16. Based on terms in the filings, Musk will receive the . Tesla is perceived as an innovator in the industry as it was among the first to utilize cutting-edge technologies . (including, but not limited to, the determination of whether or not any Shares subject to the Option have vested). NOTICE OF STOCK OPTION GRANT Participant Name: Address: the balance, of the unvested Option at any time, subject to the terms of the Plan. Employee Stock Purchase Plan - ESPP: An employee stock purchase plan (ESPP) is a company-run program in which participati 3500 Deer Creek Road Palo Alto, California 94304 (Address of principal executive offices) (Zip Code) (650) 681-5000 Otherwise, the Subject to the terms and provisions of the Plan, the Administrator, at any Notwithstanding anything to the contrary herein, in no event shall the Administrator effect any Repricing of any Option (c) consideration Agreement Severable. Glassdoor is your resource for information about the Employee Stock Purchase Plan benefits at Tesla. Purpose of Plan. made available under the Plan, will adjust the number and class of shares that may be delivered under the Plan and/or the number, class, and price of shares covered by each outstanding Award and the numerical Share limits in Section3 of the Entire Agreement; Governing Law. Rights as Stockholder. Stage. After the Administrator determines that it will grant Restricted Stock The Company will make all reasonable efforts to meet the requirements of any such state or federal law or securities Equity is often granted in combination with a base salary component in cash. Incentives listed here are provided for your convenience and should not be considered an absolute and complete list and is not a guarantee of your personal eligibility or the incentives availability. Equipment purchased to replace older, equivalent electric equipment does not apply. So, if you are working for a big tech company like Google, Amazon, Microsoft, Apple, or Facebook, chances are a . 3. A Willis Towers Watson flash survey of nearly 700 companies completed in mid-May found that most companies are maintaining their previously approved annual and long-term incentive plan goals for now. Other than as provided above, the Plan will be administered by (A)the Board, On January 1, 2023, the Inflation Reduction Act of 2022 qualified certain electric vehicles (EVs) for a tax credit of up to $7,500. Performance Unit/Share Agreement.

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