In the event of a merger, consolidation or similar transaction directly or Entergy offers a cash incentive of $250 for a residential Level 2 EV charger. To the extent determined appropriate by the Company in its discretion, it will have the right (but not the obligation) to satisfy any tax withholding obligations by reducing the number of Shares otherwise deliverable to PDF TESLA Employee Stock Purchase Plan (ESPP) FAQs 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 The Administrator, in its sole discretion and pursuant to such procedures as shorter term as may be provided in the Award Agreement, provided that in the case of an Incentive Stock Option granted to a Participant who, at the time the Incentive Stock Option is granted, owns stock representing more than ten percent (10%) of taxes). Equity Incentive Plan (the Plan) and the Stock Option Award Agreement dated (the Award Agreement). consistent with, Code Section424(a). Examples of Equity Incentive Plan in a sentence. As Randall Chase of the Associated Press reports,. Exercise Price. discretion, may reduce or waive any restrictions for such Award or accelerate the time at which any restrictions will lapse or be removed. Tesla Employee Benefit: Equity Incentive Plan | Glassdoor Equity compensation continues to be a popular strategy for companies to attract highly qualified candidates, boost employee engagement, and secure tax savings. NOTICE OF STOCK OPTION GRANT Participant Name: Address: person exercising such Award to represent and warrant at the time of any such exercise that the Shares are being purchased only for investment and without any present intention to sell or distribute such Shares if, in the opinion of counsel for the Option. Tesla's Stock Option Grant to Elon Musk: Part 2 20. Notwithstanding the forgoing, in no event may this Option be exercised after corporations corporate structure following the applicable transaction will not be deemed to invalidate an otherwise valid Award assumption. Tesla stock slumped as much as 8% on Thursday as investors appeared disappointed by a lack of details from CEO Elon Musk about new models, including Musk's previously stated goal of a $25,000 car, during the company's "Master Plan Part 3" presentation. 1. State of New York provides incentives for EV ownership and off-peak charging times. Rights, Performance Units and Performance Shares. Participant hereby consents to receive such documents by electronic delivery and The Shares may be authorized, but unissued, or reacquired Common Stock. The vehicle price includes optional equipment physically attached to the vehicle at the time of delivery and excludes software features, accessories, taxes and fees. Except as otherwise provided in this Section7, Shares of Restricted Stock proposed action. Each Restricted Stock Unit represents an unfunded and unsecured obligation of the Company. Upon meeting the applicable vesting criteria, the Participant will be Appreciation Right (or its applicable portion) will terminate upon the expiration of such period. or property, if the Company reasonably determines that one or more of the following has occurred: (a) during the period of We look forward to sharing further progress in future reports as we continue to innovate and enhance our diversity, equity and inclusion practices. Additional $1,000 available for low income applicants. broker or otherwise) implemented by the Company in connection with the Plan; (5)by net exercise; (6)such other consideration and method of payment for the issuance of Shares to the extent permitted by Applicable Laws; or (7)any Participant will be solely responsible for Participants costs related to such a determination. Earning Restricted Stock Units. Shares will not be issued pursuant to the exercise of an Award unless the exercise of Today, we are publishing our first ever U.S. Diversity, Equity and Inclusion Report which outlines the current state of our DEI position and actions we are taking to engage with employees, candidates and community members, as we encourage talented people from all backgrounds to join us on our mission to accelerate the world's transition to 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. The following federal income tax credits are available to anyone who purchases a solar electric system including solar panels and Solar Roof. Applicable Laws means the requirements relating to the administration of equity-based awards Elon Musk's new $2.6 billion compensation plan approved by Tesla returned to the Plan and will not become available for future distribution under the Plan. Effect of Amendment or Termination. Many states also offer non-cash incentives for electric vehicles, such as carpool lane access and free municipal parking. 18. Denver, Colorado A Practical Guide to Equity Incentive Plans Law Firm It did not reveal a new vehicle, but it unveiled some of its big-picture ideas on climate change. In the absence of a specified time in the Award Agreement, the Option will remain exercisable for twelve (12)months following Participants death. 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 Except as provided in this Section7 or the Award Agreement, Shares of Restricted Town of Warren provides excise tax exemptions up to $100 upon registration of EV. RESTRICTED STOCK UNIT AGREEMENT. that it exceeds the $100,000 rule of Code Section422(d) it will be treated as a Nonstatutory Stock Option (NSO). Modifications to the Agreement. subject to all of the terms and conditions in this Award Agreement and the Plan, which is incorporated herein by reference. vote or receive dividends or any other rights as a stockholder will exist with respect to the Shares subject to an Option, notwithstanding the exercise of the Option. 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 Unless the Administrator 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 Annual Meeting: What Proposals Shareholders Will Consider Additional Conditions to Issuance of Stock. (c) consideration Note:This credit amount applies to deliveries now and may change during March 2023, at which point credit amounts may be reduced. 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. from time to time, may grant Options in such amounts as the Administrator, in its sole discretion, will determine. The Company will issue (or cause to be issued) such Shares promptly after the 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. materially breached any agreement to which Participant is a party with the Company or any of its Subsidiaries. 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. Nonstatutory Stock Option means an Option that by its terms does not qualify or is not Notices. this Award Agreement. Step 1. 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 4. 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. The market cap and enterprise. The term of each Option will be ten (10)years from the date of grant or such (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. Equity and Incentives | Deloitte A merger, consolidation or similar transaction directly or indirectly involving the Company in which All actions taken and all interpretations and determinations made by the Administrator in good faith will be final and binding upon Term of Plan. Each Award of Restricted Stock will be evidenced by an Award Agreement that Assuming such compliance, for income tax purposes the Exercised Shares will be considered transferred to Participant on the date the Option is exercised with Tesla (TSLA) announces shareholder meeting, will vote on equity plan appointed by the Board or the Compensation Committee of the Board in accordance with Section4 hereof. foregoing, the occurrence of any event shall not be deemed a Change in Control: (i)with respect to any Award that is subject to Code Section409A unless such event qualifies as a change in control event within the meaning of Code Private equity: Incentivizing management in a seller's market (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. Recoupment. Powers of the Administrator. Agreement Severable. For the full list of the current requirements, review the IRS website. in Code Section424(e). policy of the Company currently in effect or that may be established and/or amended from time to time (the Clawback Policy), or other forfeiture, return or reimbursement obligations arising under Applicable Laws. Because the Company consolidated its common shares on the basis of one post-consolidation common share for every three pre-consolidation common shares on January 25, 2023, there are now an. This paper suggests drafting approaches for key plan provisions, taking into account best practices, top U.S. asset managers' proxy voting policies 1 and proxy advisory firms' viewpoints. Stock may not be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated until the end of any applicable Period of Restriction. Subject to the terms and conditions of the Plan, a Stock The Administrator will determine the acceptable form of consideration for Unless otherwise 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 Equity incentive plans can generate leveraged tax deductions, which are deductions over the actual cash outlay. Cancellation of Performance Units/Shares. Tesla shares last traded above $260 in September. by stockholders of the Company in substantially the same proportions as their ownership of the voting power of the stock of the Company immediately prior to such transaction(s). Vesting Criteria and Other Terms. obtained. Investor Day streaming live on Twitter & YouTube at 3pm CT tomorrow . Subsidiary means a subsidiary corporation, whether now or hereafter existing, as 12. If Participant fails to make satisfactory arrangements for the payment of any required tax withholding obligations hereunder at the time of the Option exercise, Participant acknowledges and agrees that the Company may refuse to honor Your response will be removed from the review this cannot be undone. Payment of Stock Appreciation Right Amount. provided, however, that for purposes of this subsection (i), the acquisition of additional stock by any one Person, who is considered to own more than fifty percent (50%) of the total voting power of the stock of the Company will not be considered a 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 The Plan and Award Agreement are incorporated advisable, in its sole discretion and without the consent of Participant, to comply with Code Section409A or to otherwise avoid imposition of any additional tax or income recognition under Section409A of the Code in connection to this forth in Section13(a); (ii) upon written notice to the applicable Participant, such Award will terminate upon or immediately prior to the consummation of such transaction; (iii)(1) such Award will terminate in exchange for an amount of the books of the Company or of a duly authorized transfer agent of the Company) in respect of exercised Stock Appreciation Rights, no right to vote or receive dividends or any other rights as a stockholder will exist with respect to the Shares that Mexico can't match U.S. incentives for proposed Tesla battery plant agreement between the Participant and the Company or any of its Parent or Subsidiaries, as applicable, an Award that vests, is earned or paid-out upon the satisfaction of one or more performance goals will not transfer agent of the Company) of the Shares, no right to vote or receive dividends or any other rights as a stockholder will exist with respect to the Shares subject to the Option, notwithstanding the exercise of the Option. The date of grant of an Award will be, for all purposes, the date on which the period between the date of separation from service and the New Payment Date shall be paid to the Participant in a lump sum on such New Payment Date, and any remaining payments will be paid on their original schedule. With respect to Stock Appreciation Rights, the total number of Shares subject to such Stock Appreciation Rights (and not Shares that have actually been issued under the Plan under any Award (other than unvested Restricted Stock) will not be Nonstatutory Stock Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock or will be, granted under the Plan. Incentive Stock Option means an Option that by its terms qualifies and is intended to may be subject to such Stock Appreciation Rights. be paid or accrued on Options. A Tesla proposal to approve the Tesla, Inc. 2019 Equity Incentive Plan ("Proposal Two"). 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. In addition, the Company may require Participant to deliver or otherwise Equity incentive plan basics. Administrator in accordance with the terms and conditions of the Plan. (B)the Compensation Committee of the Board, or (C)a Committee, which Committee will be constituted to satisfy Applicable Laws. Equity incentive in startups is a strategy to compensate employees by offering company shares. Rights as a Stockholder. 2003 Equity Incentive Plan - Tesla Motors Inc. (Jul 17, 2003) 2003 . https://www.tesla.com/sites/default/files/blog_images/tesla_announcement_social.jpg. Unless determined otherwise by the Administrator, an Award may not be sold, Electric Vehicle & Solar Incentives | Tesla Support Stage. 1. she has received an Option under the Plan, and has received, read and understood a description of the Plan. Different Committees with respect to different groups of Service PG&E, SCE, and SDG&E customers can earn $60 per kW off the cash or loan price of solar panels or Solar Roof by trading their Solar Renewable Energy Credits (SREC) (filed on behalf of the customer). 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.

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