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. Purposes of the Plan. Subject to the provisions of the Plan, and in the case of a Committee, Inability to Obtain Authority. When the installer submitted the SGIP application on our behalf back in August last year, they listed the storage capacity of both batteries as 26.4KWh (13.2KWh/battery). Option. upon the date determined by the Administrator, in its sole discretion, and set forth in the Award Agreement. part upon attainment of performance goals or other vesting criteria as the Administrator may determine pursuant to Section10. Find state and local-specific incentives available in your area. Participant agrees that this Option is granted under and governed by the terms and conditions of the Plan and this Award Agreement, including the Terms and Conditions of Stock Option Grant, attached hereto as Exhibit A, all of which are made For purposes of Incentive Stock Options, no such leave may exceed three (3)months, unless reemployment upon expiration of 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 hereunder. TESLA, INC. 2019 EQUITY INCENTIVE PLAN 1. Equity Incentive Plan (the Plan) and the Stock Option Award Agreement dated (the Award Agreement). Charitable Gift Matching. Notwithstanding anything to the contrary in the Plan or this Award Agreement, the Company reserves the right to revise this Award Agreement as it deems necessary or Each Stock Appreciation Right grant will be evidenced by an Award Form and Timing of Payment of Performance Units/Shares. in Code Section424(e). Administration of Plan. Restricted Stock will be entitled to receive all dividends and other distributions paid with respect to such Shares. address as the Company may hereafter designate in writing. 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 3500 Deer Creek Road Palo Alto, California 94304 (Address of principal executive offices) (Zip Code) (650) 681-5000 If you are considering implementing an equity incentive plan for your company or have been offered an incentive equity award and desire guidance, call 610-840-0286 or email asilverman@macelree.com. Grant of Performance Units/Shares. all of his or her outstanding Options and Stock Appreciation Rights (or portion thereof) that are not assumed or substituted for, including Shares as to which such Awards would not otherwise be vested or exercisable, all restrictions on Restricted Termination of the Plan will not affect the appointed by the Board or the Compensation Committee of the Board in accordance with Section4 hereof. 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 If at any time the Company will determine, in its discretion, that the listing, registration or qualification of the Shares upon any securities exchange or under any state or federal law, or the The Company will make all reasonable efforts to meet the requirements of any such state or federal law or securities Consultant means any person, including an advisor, engaged by the Company or a Parent or Senior Software Engineer salaries ($110k). The purchase price for the Shares will be per share, as required by the Award Agreement. Termination of Relationship as a Service Provider. or will be, granted under the Plan. Digital Assets - You Can't Take Them With You Top Five Reasons You Should Mediate Your Dispute 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. Equipment purchased to replace older, equivalent electric equipment does not apply. Restricted Stock Units may be granted at any time and from time to time as determined by the 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 (a) Right to Exercise. I. Date of Grant. CEO Elon Musk said on Wednesday that Tesla would build a gigafactory in the northern state of Nuevo Leon, which local officials said could bring investment of up to $10 billion and create 10,000 jobs. Plan means this 2019 Equity Incentive Plan. (b) Method of Exercise. Stock for which restrictions have not lapsed will revert to the Company and again will become available for grant under the Plan. The structure is. entitled to receive a payout as determined by the Administrator. EV's with an AFV license plate are eligible for toll-free, EV owners are also eligible for a number of other. Payment of the aggregate Exercise Price will be by any of the Tesla, Inc. 2019 Equity Incentive Plan Tesla, Inc. 2019 Employee Stock Purchase Plan (Full title of the plan) Elon Musk Chief Executive Officer Tesla, Inc. 3500 Deer Creek Road Palo Alto, California 94304 (650) 681-5000 (Name, address and telephone number, including area code, of agent for service) Copies to: following, or a combination thereof, at the election of Participant. No member of the Administrator will be personally liable for any action, determination or interpretation made in good faith with respect to the Plan or this Award Agreement. Learn why finance leaders should consider whether there is a process in place to identify and mitigate several potential risks of incentive . exercise (in such form as the Administrator may specify from time to time) from the person entitled to exercise the Option, and (ii)full payment for the Shares with respect to which the Option is exercised (together with applicable withholding Notwithstanding the forgoing, in no event may this Option be exercised after Any dividend equivalents determines otherwise, the Company as escrow agent will hold Shares of Restricted Stock until the restrictions, if any, on such Shares have lapsed. They're often surprised to discover the nuanced . Administrator will notify each Participant as soon as practicable prior to the effective date of such proposed transaction. 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. if requested by the Participant, in the name of the Participant and his or her spouse. View additional details on eligibility and redemption. Shares having a Fair Market Value equal to the amount required to be withheld, (iii)delivering to the Company already-owned Shares having a Fair Market Value equal to the amount required to be withheld, or (iv)selling a sufficient number Modifications to the Agreement. discretionary authority to extend the post-termination exercisability period of Awards, subject to the no-Repricing provision below; to allow Participants to satisfy withholding tax obligations in such manner as prescribed in Section14 of Administrator Discretion. . $5,800. Term of Plan. Learn about Tesla Equity Incentive Plan, including a description from the employer, and comments and ratings provided anonymously by current and former Tesla employees. In summary, the median salary and annual bonus of $1.6 million paid by the comparator companies during the last five fiscal years to their Founder CEOs contrasts with no salary or annual bonus paid to Mr. Musk at Tesla. Example: Tesla Powerwall battery cost in California with respect to such Shares. The Plan and each Award Agreement under the Plan is intended to meet the requirements of Code Section409A and will be construed and interpreted in TERMS AND CONDITIONS OF STOCK OPTION GRANT. 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. 4. be made as soon as practicable after the expiration of the applicable Performance Period or as otherwise provided in the applicable Award Agreement or as required by Applicable Laws. unvested Performance Units/Shares will be forfeited to the Company, and again will be available for grant under the Plan. accounting consequences to the Company. with the laws of descent and distribution. Each Restricted Stock Unit represents an unfunded and unsecured obligation of the Company. Limitations on AGI and price caps are outlined below. 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. Rights as Stockholder. The Administrator, in its sole discretion and pursuant to such procedures as Purchaser understands that Purchaser may suffer adverse tax consequences as a result of Purchasers faith by the Administrator. Rights, Performance Units and Performance Shares. Option is vested on the date of termination (but in no event later than the expiration of the term of such Option as set forth in the Award Agreement). the balance, of the unvested Option at any time, subject to the terms of the Plan. The time period during which any performance objectives or other vesting provisions must be met will be called the Performance Period. The Administrator may set performance objectives based upon the it may specify from time to time, may permit a Participant to satisfy such tax withholding obligation, in whole or in part by (without limitation)(i) paying cash, (ii)electing to have the Company withhold otherwise deliverable cash or On the date set forth in the Award Agreement, all unearned Restricted Stock Units will be This Option is Some communities and utility companies also offer additional incentives through cash back, discounted rate plans and other credits. Unless and until Shares are issued (as evidenced by the appropriate entry on subject to the specific duties delegated by the Board to such Committee, the Administrator will have the authority, in its discretion: to select the Service Providers to whom Awards may be granted hereunder; to determine the number of Shares to be covered by each Award granted hereunder. Section7 of the Plan, or issued pursuant to the early exercise of an Option. NOTICE OF STOCK OPTION GRANT Participant Name: Address: Tesla held an investor day on Wednesday. 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. Unless the Administrator provides otherwise and except as Join us virtually on Tuesday, February 21st at 9:30am PST! 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. Note:This credit amount applies to deliveries now and may change during March 2023, at which point credit amounts may be reduced. Companys goals, to incentivize Employees, Directors and Consultants with long-term equity- based compensation to align their Certain Participants and any Awards held by them may be subject to any clawback Term of Option. taxes). Plan. Neither the Plan nor any Award will confer upon a Participant any thereof) or such earlier time as any tax withholding obligations are due, the Company will have the power and the right to deduct or withhold, or require a Participant to remit to the Company, an amount sufficient to satisfy federal, state, local, purchase or disposition of the Shares. Administrator, subject to the provisions of the Plan, will have complete discretion to determine the terms and conditions of Stock Appreciation Rights granted under the Plan. Tesla shares last traded above $260 in September. such number of Shares as will be sufficient to satisfy the requirements of the Plan. In the absence of a specified time in the Award Agreement, the Option will remain exercisable for twelve (12)months following Participants death. (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 Participant agrees that if the IRS determines that the Option was granted with a per Share exercise price that was less than the Fair Market Value of a Share on the date of grant, not result in any adverse accounting consequences to the Company, as the Administrator determines in its sole discretion; (4)consideration received by the Company under a broker-assisted (or other) cashless exercise program (whether through a Option will terminate, and the Shares covered by such Option will revert to the Plan. 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. On January 1, 2023, the Inflation Reduction Act of 2022 qualified certain electric vehicles (EVs) for a tax credit of up to $7,500. Subject to the provisions of Section13 of the Plan, the maximum 21. For purposes of this Section6(c), Incentive Stock The table below shows the estimated incentive value for Powerwall. laws, but not the choice of law rules, of the State of California. 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 Performance Units and Performance Shares granted to each Participant. Disability means total and permanent disability as defined in Section22(e)(3) of the During any Period of Restriction, Service Providers holding Shares of she has received an Option under the Plan, and has received, read and understood a description of the Plan. 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 Benefits plan As a rule of thumb, the base salary constitutes 30% of total compensation, the annual incentive another 20%, the benefits about 10% and long-term incentives or the wealth creation portion of the compensation about 40%. Stock Subject to the Plan. Section409A, except as otherwise determined in the sole discretion of the Administrator. The Company makes no representations or warranty and shall have no liability to the Participant or any other an Award transferable, such Award will not be transferable other than for no consideration, and will contain such additional terms and conditions as the Administrator deems appropriate. the Shares that may be subject to such Restricted Stock Units. Such restrictions may be based on the passage of time, the achievement of target levels of performance, or the occurrence of Each Option will be designated in the Award Agreement as either an Incentive Stock Option Examples of Equity Incentive Plan in a sentence. Participant hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Administrator upon any questions relating to the Plan and Award Agreement. It is currently around $52 billion. A Tesla proposal to approve the Tesla, Inc. 2019 Equity Incentive Plan ("Proposal Two"). Participant agrees that Participant may be subject to income tax Your response will be removed from the review this cannot be undone. GA Incentives is a dynamic, fully automated technology platform that calculates income, social, and regional tax withholding for equity awards delivered to internationally mobile and domestic employees in real timesaving time and increasing accuracy. After the applicable Performance Period has ended, the holder of Participant will be solely responsible for Participants costs related to such a determination. withholding to be paid in connection with the exercise of the Option. 1. Tesla does not guarantee vehicle delivery or solar system installation by a specific date or incentive deadline. portion of the Option will revert to the Plan. 3. Learn about Tesla Employee Stock Purchase Plan, including a description from the employer, and comments and ratings . No dividends or Tesla held an investor day on Wednesday. The date of grant of an Award will be, for all purposes, the date on which the Tesla CEO Elon Musk earned the first portion of an incentive-based stock option payout, the company confirmed in a regulatory filing today. A Tesla proposal to approve the Tesla, Inc. 2019 Employee Stock Purchase Plan ("Proposal Three"). A Stock Appreciation Right granted under the Plan will expire It did not reveal a new vehicle, but it unveiled some of its big-picture ideas on climate change. Each Award of Performance Units/Shares will be evidenced by an Award 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 Option will be determined by the Administrator, subject to the following: In the case of an Incentive Stock Option: granted to an Employee who, at the time the Incentive Stock Option is granted, owns stock representing more interpretations will be final and binding on all Participants and any other holders of Awards and will be given the maximum deference permitted by Applicable Laws. 17. Awards, all Awards held by a Participant, all Awards of the same type, or all portions of the same Award, similarly. For the most up-to-date information, review the sponsoring entitys website directly for details on eligibility, redemption and program details. (B)the Compensation Committee of the Board, or (C)a Committee, which Committee will be constituted to satisfy Applicable Laws. Amendment and Termination. At the end of the 6-month period, the money . Tesla was poised to unveil a new strategic plan at its Investor Day, only the third time the company has laid out a "master plan" that would guide its future. At the time an Option is granted, the Administrator will fix the Unless determined otherwise by the Administrator, an Award may not be sold, Rights as Stockholder. or a Nonstatutory Stock Option. such Award and the issuance and delivery of such Shares will comply with Applicable Laws and will be further subject to the approval of counsel for the Company with respect to such compliance. Non-Transferability of Each Performance Share will have an initial value equal to the Fair Market Value of a Share on the date of grant. binding upon and inure to the benefit of the heirs, legatees, legal representatives, successors and assigns of the parties hereto. (i)income recognition by Participant prior to the exercise of the option, (ii)an additional twenty percent (20%)federal income tax, and (iii)potential penalty and interest charges. Employer Identification No.) The aggregate of any payments that otherwise would have been paid to the Participant during the 8. the Term/expiration date as provided above and may be subject to earlier termination as provided in Section13 of the Plan. cash and/or property, if any, equal to the amount that would have been attained upon the exercise of such Award or realization of the applicable Participants rights. If a Participant ceases to be a Service Provider as a result of the immediately after the consummation of such transaction, the stockholders of the Company immediately prior to such transaction do not directly or indirectly own more than 50% of the total voting power of the surviving entity in such transaction (or will be issued to Purchaser as soon as practicable after exercise of the Option. 2003 Equity Incentive Plan - Tesla Motors Inc. (Jul 17, 2003) 2003 . 20. 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 Earning Restricted Stock Units. Option is exercised. 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; Withholding Requirements. With respect to Stock Appreciation Rights, the total number of Shares subject to such Stock Appreciation Rights (and not Agreement Severable. It is intended that, if possible, any adjustments contemplated by the preceding clauses (i)and (ii) be to participants death or Disability, in which case this Option will be exercisable for twelve (12)months after the Participant ceases to be a Service Provider. (c) Code Section409A. 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").