tesla equity incentive plan

A merger, consolidation or similar transaction directly or indirectly involving the Company in which Change in Control means the occurrence of any of the following events: A change in the ownership of the Company which occurs on the date that any one person, or more than one person less than the exercise price of the original award; and (iv)taking any other action under the Plan that constitutes a repricing under Applicable Laws; provided that a Repricing shall not include any action taken with stockholder RESTRICTED STOCK UNIT AGREEMENT. A company's long-term incentive plan needs to consider four main topics during an IPO: Restricted Stock Unit Agreement. This Option is In the event of a merger, consolidation or similar transaction directly or For the best experience, we recommend upgrading or changing your web browser. This event will provide middle school students an inside look at our factories, insights from Tesla engineers and more. substituted for, if on the date of or following such assumption or substitution the Participants status as a Director or a director of the successor corporation, as applicable, is terminated other than upon a voluntary resignation by the Exercise Price and Other Terms. Outside Director Awards. They also indicate that Mr. Musk did not accept the salary.) The Administrator, in its to approve forms of Award Agreements for use under the Plan; to determine the terms and conditions, not inconsistent with the terms of the Plan, of any Award granted of the term of such Option as set forth in the Award Agreement). of its Parent or Subsidiaries, as applicable, to terminate such relationship at any time, with or without cause, to the extent permitted by Applicable Laws. address as the Company may hereafter designate in writing. Grant of Performance Units/Shares. Award means, individually or collectively, a grant under the Plan of Options, Stock The Administrator, in its discretion, may accelerate the vesting of the balance, or some lesser portion of 18. the Participant (through accepting the Award) agrees that he or she is bound, such portion of the payment, compensation or other benefit shall not be paid before the day that is six months plus one day after the date of separation from Company upon any change in the residence address indicated below. Notwithstanding the generality of the foregoing, in the event of a merger, consolidation or similar transaction directly or indirectly Cancellation of Performance Units/Shares. Agreement Severable. 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. Qualifying technologies include wind turbines, waste heat to power technologies . The number of Shares with respect to which the Stock Appreciation Right is exercised. This program offers a similar rebate-style incentive to California's SGIP program, with the state currently offering a $250 per kilowatt rebate to Long Island residents. other Shares which have a Fair Market Value on the date of surrender equal to the aggregate Exercise Price of the Exercised Shares, provided that accepting such Shares, in the sole discretion of the Administrator, will not result in any adverse of such Option as set forth in the Award Agreement), by the Participants designated beneficiary, provided such beneficiary has been designated prior to Participants death in a form acceptable to the Administrator. Form of Consideration. a part of this document. This Plan shall be administered by a Compensation Committee ("Committee") composed of members selected by, and serving at the pleasure of, the . To the extent it has not been previously exercised, an Award will terminate immediately prior to the consummation of such Option will terminate, and the Shares covered by such Option will revert to the Plan. Section409A, except as otherwise determined in the sole discretion of the Administrator. Performance Units and Performance Shares. New Toyota CEO, with eye on Tesla, plots next-gen EV platform push. 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. will be entitled to receive payment from the Company in an amount determined by multiplying: The difference between the Fair Market Value of a Share on the date of exercise over the exercise price; times. Plan Governs. Administrator will notify each Participant as soon as practicable prior to the effective date of such proposed transaction. The Administrator, in its sole discretion, may pay earned You have been Death of Participant. Non-Transferability of covered by each Restricted Stock grant made under the Plan will be released from escrow as soon as practicable after the last day of any Period of Restriction or at such other time as the Administrator may determine. The the net number of Shares actually issued pursuant to such Stock Appreciation Rights) will cease to be available under the Plan. Eligibility. If reemployment upon expiration of a leave of absence approved by the Company is not so guaranteed, then six (6)months following the first Notices. This Option may not be transferred in any manner otherwise than by will or by the laws of descent or distribution and may be exercised during the lifetime of Participant only by Participant. Administrator will have the power to interpret the Plan and this Award Agreement and to adopt such rules for the administration, interpretation and application of the Plan as are consistent therewith and to interpret or revoke any such rules other than upon the Participants termination as the result of the Participants death or Disability, the Participant may exercise his or her Option within such period of time as is specified in the Award Agreement to the extent that the GA Incentives also calculates reportable amounts for both employer and employee in each . Option is exercised. If no such beneficiary Section409A, or (ii)if the sole purpose of the underlying transaction(s) is to change the jurisdiction of the Companys incorporation or to create a holding company of which the total voting power is owned, directly or indirectly, Purchaser represents that Purchaser has consulted with any tax consultants Purchaser deems advisable in connection with the purchase or disposition of the Shares and that Purchaser is not relying on the Company Shares issued upon exercise of an Option will be issued in the name of the Participant or, When making these recommendations to new companies, we generally advise that founders choose relatively "standard" and "straight-forward" terms, which have the dual benefit of keeping . Performance Unit means an Award which may be earned in whole or in part upon attainment of Equity incentive in startups is a strategy to compensate employees by offering company shares. Removal of Restrictions. accordance with the following schedule: This Option will be exercisable for three (3)months after the Participant ceases to be a Service Provider, unless such termination is due Tesla shares last traded above $260 in September. Any Option granted hereunder will be exercisable Incentive Stock Options may be granted only to Employees. Assuming such compliance, for income tax purposes the Exercised Shares will be considered transferred to Participant on the date the Option is exercised with Find state and local-specific incentives available in your area. Participant agrees that Participant may be subject to income tax Option means a stock option granted pursuant to the Plan. transactions, other than to any entity of which more than 50% of the total voting power is owned, directly or indirectly, by stockholders of the Company in substantially the same proportions as their ownership of the voting power of the stock of the Stock may not be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated until the end of any applicable Period of Restriction. For purposes of litigating any dispute that arises under this Option or this Award Agreement, the parties hereby submit to and consent to the jurisdiction of the State of California, and agree that such litigation will be the issuance and sale of any Shares hereunder, will relieve the Company of any liability in respect of the failure to issue or sell such Shares as to which such requisite authority, registration, qualification or rule compliance will not have been Tesla held an investor day on Wednesday. Purposes of the Plan. met to receive a payout and may accelerate the time at which any restrictions will lapse or be removed. offense under the applicable laws of any relevant foreign jurisdiction); (b) during the Service Period or at any time thereafter, Participant has committed or To calculate a sales-based incentive payment, multiply the total sales profit times the percentage of commission. 8. Administrator Authority. Market Value of a Share on the Date of Grant in a later examination. this Section6(e)(i) of the Plan, Options may be granted with a per Share exercise price less than one hundred percent (100%) of the Fair Market Value per Share on the date of grant pursuant to a transaction described in, and in a manner Grant of Options. Subsidiary means a subsidiary corporation, whether now or hereafter existing, as For purposes of Incentive Stock Options, no such leave may exceed three (3)months, unless reemployment upon expiration of Participant will be solely responsible for Participants costs related to such a determination. Anticipation had built for days. To the extent an Award under the Plan is paid out in cash rather than Shares, such cash Qualified vehicles are exempt from emissions testing. Common Stock means the common stock of the Company. Many companies, optimistic about these benefits, start equity compensation programs without sufficient planning. 2. of the acquiring or succeeding corporation, provide for the consideration to be received upon the exercise of an Option or Stock Appreciation Right or upon the payout of a Restricted Stock Unit, Performance Unit or Performance Share, for each Share Capitalized be subject to such Performance Units/Shares. The bill would provide some of the most generous EV . provided by the Administrator, if on the date of termination the Participant is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option will revert to the Plan. Representations of Purchaser. Participant understands that the Plan is discretionary in nature and may be amended, suspended or terminated by the Company at any time. Effect of Administrators Decision. will be deemed achieved at one hundred percent (100%) of target levels and all other terms and conditions met, unless specifically provided otherwise under the applicable Award Agreement or other written agreement between the Participant and the hereunder as exempt under Rule 16b-3, the transactions contemplated hereunder will be structured to satisfy the requirements for exemption under Rule 16b-3. (1st) day of such leave any Incentive Stock Option held by the Participant will cease to be treated as an Incentive Stock Option and will be treated for tax purposes as a Nonstatutory Stock Retirement Plan. TESLA, INC. 2019 EQUITY INCENTIVE PLAN. Other Restrictions. 1. 13. Unless the Administrator provides otherwise and except as Each Performance Share will have an initial value equal to the Fair Market Value of a Share on the date of grant. Method of Payment. What's going on at Tesla? 3. Unless otherwise provided by the Administrator, Number of Shares. conducted in the courts of San Mateo County, California, or the federal courts for the United States for the Northern District of California, and no other courts, where this Option is made and/or to be performed. any restriction or limitation regarding any Award or the Shares relating thereto, based in each case on such factors as the Administrator will determine; to construe and interpret the terms of the Plan and Awards granted pursuant to the Plan; to prescribe, amend and rescind rules and regulations relating to the Plan, including rules and regulations following the Participants death within such period of time as is specified in the Award Agreement to the extent that the Option is vested on the date of death (but in no event may the Option be exercised later than the expiration of the term Shares which would not otherwise be vested or exercisable, all restrictions on Restricted Stock and Restricted Stock Units will lapse, and, with respect to Performance Units and Performance Shares, all performance goals or other vesting criteria Dissolution or Liquidation. 1. For purposes of this Section6(c), Incentive Stock Copyright 20082023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. Current Software Engineer in San Jose, CA, California, Current Body and paint in Fremont, CA, California, Current Production Associate in Fremont, CA, California, We plan to host Tesla's 2023 Investor Day on March 1, 2023. Binding Agreement. Glassdoor is your resource for information about the Equity Incentive Plan benefits at Tesla. Transferability of Awards. non-discriminatory standards adopted by the Administrator from time to time. Term of Plan. But this incentive won't last forever-as of early 2021, 70% of the funds were already committed. As Randall Chase of the Associated Press reports,. That means there is over $1 billion in incentives available through SGIP . Each Award of an Option will be evidenced by an Award Agreement that will specify the 17. The Administrator, in its sole discretion and pursuant to such procedures as other rights or property selected by the Administrator in its sole discretion; or (iv)any combination of the foregoing. No dividends or dividend equivalent rights shall corporations corporate structure following the applicable transaction will not be deemed to invalidate an otherwise valid Award assumption. Vesting Criteria and Other Terms. 20. Change in Control; or, A change in the effective control of the Company which occurs on the date that a majority of members of the Subsidiary to render services to such entity, as to whom the registration of an offer or sale of the Companys securities to such person pursuant to a Registration Statement on Form S-8 is available. Additional $1,000 available for low income applicants. all performance goals or other vesting criteria will be deemed achieved at one hundred percent (100%) of target levels and all other terms and conditions met, in each case, unless specifically provided otherwise under the applicable Award Agreement Participants acceptance of this Award Agreement either electronically through the electronic acceptance procedure established by the Company or through a written acceptance delivered to the Company in a form satisfactory to the Company, Here's what we know about it. Administration of Plan. Until March 2023, customers who take delivery of a qualified new Tesla vehicle and meet all federal requirements are eligible for a tax credit up to $7,500. Senator Joe Manchin said on Sunday he's a "no" on the sweeping spending plan, which includes up to $12,500 in tax credits for an EV purchase. Tesla Equity Incentive Plan 123 employees reported this benefit 5.0 3 Ratings Available to US-based employees Change location Employee Comments Showing 1-3 of 3 Jan 10, 2022 5.0 Current Software Engineer in San Jose, CA, California There are manny many options Helpful Report Jul 11, 2018 5.0 Subject to Section18 of the Plan, in the event of a conflict between the terms and conditions of the Plan and the terms Administrator in accordance with the terms and conditions of the Plan. The table below shows the estimated incentive value for Powerwall. dividend equivalents on Restricted Stock Units may be earned in Shares or cash but will be subject to the same restrictions on transferability and forfeitability as the Restricted Stock Units with respect to which they relate and if the Restricted At the time an Option is granted, the Administrator will fix the Participant means the holder of an outstanding Award. Performance Share means an Award denominated in Shares which may be earned in whole or in An Option will be deemed exercised when the Company receives: (i)a notice of Waiting Period and Exercise Dates. 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 granted an Option to purchase Common Stock of Tesla, Inc. (the Company), subject to the terms and conditions of the Plan and this Award Agreement, as follows: Subject to any acceleration provisions contained in the Plan or set forth below, this Option may be exercised, in whole or in part, in 12. Restricted Stock Units may be granted at any time and from time to time as determined by the Companys goals, to incentivize Employees, Directors and Consultants with long-term equity- based compensation to align their 15. Plan) that expire or otherwise terminate without having been exercised in full and Shares issued pursuant to awards granted under the Prior Plan that are forfeited to or repurchased by the Company due to failure to vest, provided that no A properly structured equity incentive compensation plan can help innovative companies stand out from their competitors when it comes to hiring and retaining key talent. On the date set forth in the Award Agreement, the Restricted Ultimately, Musk could earn up to $55.8 billion in stock and awards, if Tesla's market cap reaches $650 billion. For all its expertise in electrification going back . Step 2. Address for Unless and until Shares are issued (as evidenced by the appropriate entry on Amendment, Suspension or Termination of the Plan. Participating MLPs include Groton, Ipswich, Marblehead, Sterling, Shrewsbury, South Hadley, Wakefield and West Boylston. The Administrator will have complete discretion to determine the number of Stock for any tax advice. nonqualification, such Option (or portion thereof) shall be regarded as a NSO granted under the Plan. No adjustment will be made for a dividend or other right for which the record date is prior to the date of issuance, except as provided in Section13 of the Plan. Grudging admiration for Tesla helps reinforce a stark realization at Toyota. 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 The purposes of this Plan are: to attract and retain the best available personnel to ensure the Company's success and accomplish the Company's goals, to incentivize Employees, Directors and Consultants with long-term equity- based compensation to align Subject to the terms and conditions of the Plan, a Stock more than a maximum aggregate of 13,000,000 Shares may be granted as Incentive Stock Options. 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 Anticipation had built for days. necessary and desirable to comply with Applicable Laws. of Shares otherwise deliverable to the Participant through such means as the Administrator may determine in its sole discretion (whether through a broker or otherwise) equal to the amount required to be withheld. Termination of Relationship as a Service Provider. amount of the payment to be issued upon exercise of a Stock Appreciation Right will be determined by the Administrator and will be no less than one hundred percent (100%) of the Fair Market Value per Share on the date of grant. Tesla Inc. is a large automotive and energy enterprise launched in 2003 and located in Palo Alto, CA (Tesla, 2019). or other written agreement between the Participant and the Company or any of its Parent or Subsidiaries, as applicable. Amendment and Termination. withholding by the Company on the compensation income recognized by Participant. The inability of the Company to obtain authority from any regulatory body entered into by the Company or Parent or any of its Subsidiaries shall not reduce the number of Shares available for issuance under the Plan. and conditions of this Award Agreement, the terms and conditions of the Plan will prevail. The Plan permits the grant of Incentive Stock Options, Nonstatutory Stock Options, Restricted Stock, Restricted Stock Units, Stock Appreciation

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