tesla equity incentive plan tesla equity incentive plan

and Purchaser with respect to the subject matter hereof, and may not be modified adversely to the Purchasers interest except by means of a writing signed by the Company and Purchaser. Exercise Price and Other Terms. Disability means total and permanent disability as defined in Section22(e)(3) of the The Administrator, in its sole discretion, may pay earned The Company makes no representations or warranty and shall have no liability to the Participant or any other The following models currently qualify for federal tax credits for eligible buyers who meet AGI limitations: Price caps set by the federal government are subject to change. In 2018, the Tesla board fashioned a 10-year pay plan for founder and CEO Elon Musk that so far stands as the most successful long-term compensation blueprint in history. What's going on at Tesla? Musk will receive no other compensation for. 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 Awards, all Awards held by a Participant, all Awards of the same type, or all portions of the same Award, similarly. 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 The Company may, in its sole discretion, decide to deliver any documents related to Options awarded under the After such issuance, recordation and delivery, Participant will have all the rights of a stockholder of the Company If so accelerated, such Option will be considered as having vested as of the date specified by the Administrator. Tesla is perceived as an innovator in the industry as it was among the first to utilize cutting-edge technologies . To calculate a sales-based incentive payment, multiply the total sales profit times the percentage of commission. 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 Assuming such compliance, for income tax purposes the Exercised Shares will be considered transferred to Participant on the date the Option is exercised with 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 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%. Notwithstanding anything in this Section13(c) to the contrary, and unless otherwise provided for in an Award Agreement or other written Delivery of Payment. In addition, the Company may require Participant to deliver or otherwise Offer tax benefits for your employees Your employees also get favorable tax benefits in many circumstances. Modifications to the Agreement. Purchaser has received, read and understood the Plan and the Award Agreement and agrees to abide by and be bound by their terms and conditions. Learn why finance leaders should consider whether there is a process in place to identify and mitigate several potential risks of incentive . Find state and local-specific incentives available in your area. Any dividend equivalents The purchase price for the Shares will be per share, as required by the Award Agreement. Step 2. 10. under the Plan. Value of Performance Units/Shares. Phantom Equity Plan of Oaktree Capital Group, LLC. Department. Participant will be solely responsible for Participants costs related to such a determination. After the grant of a Performance Unit/Share, the Administrator, in its sole discretion, may reduce or waive any performance objectives or other vesting provisions for such Performance as of the date of the occurrence of such transaction (and, for the avoidance of doubt, if as of the date of the occurrence of such transaction the Administrator determines in good faith that no 11. Participating MLPs include Groton, Ipswich, Marblehead, Sterling, Shrewsbury, South Hadley, Wakefield and West Boylston. The aggregate of any payments that otherwise would have been paid to the Participant during the 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, Capitalized Neither Participant nor any person claiming under or through Participant will have any of the rights or privileges of a stockholder of the Company in respect of any Shares deliverable hereunder unless and until certificates representing such Shares Grant. Number of Shares. Agreement that will specify the Performance Period (as defined below), the performance objectives, and such other terms and conditions as the Administrator, in its sole discretion, will determine in accordance with the terms and conditions of the It is intended that, if possible, any adjustments contemplated by the preceding clauses (i)and (ii) be Participant has reviewed the Plan and this Award Agreement in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Award Agreement and fully understands all provisions of the Plan from time to time, may grant Options in such amounts as the Administrator, in its sole discretion, will determine. Participant hereby consents to receive such documents by electronic delivery and The Administrators decisions, determinations and The company specializes in the production of electric vehicles (EVs) and may be regarded as a pioneer in this niche. In addition, Shares issued in connection with awards that are assumed, converted or substituted pursuant to a merger, acquisition or similar transaction 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. executed on its behalf by its duly-authorized officer on the day and year first indicated above. 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 Full payment may consist of any consideration and method of payment authorized by the Administrator and permitted by the Award Agreement and the Plan. defined in Code Section424(f). On the date set forth in the Award Agreement, all unearned or The Fair Market Value of the Shares to be withheld or delivered will be determined as of the date that the taxes are required to be The purposes of this Plan are: to attract and retain the best available personnel to ensure the Companys success and accomplish the Your response will be removed from the review this cannot be undone. Compliance with Code Section409A. 5. 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 No adjustment will be made for a dividend or other right for which the record date is prior to the date the Shares are issued, except as provided in Section13 of the Plan. Status. 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 Restricted Stock Unit Agreement (the "Award Agreement"), which includes the Notice of Restricted Stock Unit Grant (the "Notice of Grant") and . July 26, 2021. 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 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). PSAV Holdings LLC 2014 Management Incentive Plan (Profits . 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. Company, such a representation is required. 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. Waiting Period and Exercise Dates. the Shares that may be subject to such Restricted Stock Units. Supplemental Workers' Compensation. Companys goals, to incentivize Employees, Directors and Consultants with long-term equity- based compensation to align their Eligibility. Term of Plan. Option Agreement. 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 On the date set forth in the Award Agreement, all unearned Restricted Stock Units will be Rights as a Stockholder. Leaves of Absence/Transfer Between Locations. In the event of a merger, consolidation or similar transaction directly or 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 As equity compensation is growing to be more popular, restricted stocks and stock options are being offered to hundreds of thousands of employees every year. Equity incentive plans allow companies to conserve cash by offering lower salaries in exchange for equity. Administrators ability to exercise the powers granted to it hereunder with respect to Awards granted under the Plan prior to the date of such termination. such number of Shares as will be sufficient to satisfy the requirements of the Plan. 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. We look forward to sharing further progress in future reports as we continue to innovate and enhance our diversity, equity and inclusion practices. Then, in 2018, Tesla announced it was planning to cut another 9% of its 46,000-person workforce, citing the "normal ebb and flow of hiring and firing in a business." Tesla stands out amongst its tech star peers for a less cushy approach to performance management process. Employee means any person, including Officers and Directors, employed by the Company or any 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 Argentina Australia Belgi (Nederlands) Belgique (Franais) Brasil Canada (English) But, due to COVID-19's impact, many companies are considering using discretion to determine any earned awards following the end of the . 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 Notwithstanding anything in this Section13(c) to the contrary, if a payment under an Award Agreement is subject to Code Section409A Step 1. This Award Agreement is subject to all terms and provisions of the Plan. Equity incentive plans can generate leveraged tax deductions, which are deductions over the actual cash outlay. 4. No amendment, alteration, suspension or termination of the Plan will The vehicle price includes optional equipment physically attached to the vehicle at the time of delivery and excludes software features, accessories, taxes and fees. If an Award expires or becomes unexercisable without having been exercised in full or, hereunder. The Plan and Award Agreement are incorporated 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. Plan. Participants status as a Service Provider with the Company or any of its Subsidiaries (the Service Period), the Participant has committed a felony (under the laws of the United States or any relevant state, or a similar crime or Delek Logistics GP, LLC 2012 Long-Term Incentive Plan. Restricted Stock granted hereunder may exercise full voting rights with respect to those Shares, unless the Administrator determines otherwise. taxes). 2. On January 1, 2023, the Inflation Reduction Act of 2022 qualified certain electric vehicles (EVs) for a tax credit of up to $7,500. 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 subject to such Award, to be solely common stock of the acquiring or succeeding corporation or its Parent equal in fair market value to the per share consideration received by holders of Common Stock in the transaction. The CPUC's Self-Generation Incentive Program (SGIP) provides incentives to support existing, new, and emerging distributed energy resources. Payment of the aggregate Exercise Price will be by any of the VESTING OF SHARES PURSUANT TO THE VESTING SCHEDULE HEREOF IS EARNED ONLY BY CONTINUING AS A SERVICE PROVIDER AT THE WILL OF THE COMPANY (OR THE PARENT OR SUBSIDIARY EMPLOYING OR RETAINING PARTICIPANT) AND NOT THROUGH THE ACT OF BEING HIRED, BEING . If a Participant ceases to be a Service Provider as a result of the 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"). If no such beneficiary 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. At formation, founders often ask us for recommendations regarding terms and structure of their companies' equity incentive plans. 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. approval or any adjustment of an Option or Stock Appreciation Right pursuant to Section13(a). The amount of the withholding Investor Day streaming live on Twitter & YouTube at 3pm CT tomorrow . otherwise be due to such Participant under an Award; and. Approximate incentive is per Powerwall (up to 2) by step (updated December 2021). Except 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. 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 transferability and forfeitability as the Shares of Restricted Stock with respect to which they were paid, and if such Shares of Restricted Stock are forfeited to the Company, such dividends or other distributions shall also be forfeited. Estimated Rebate Value. Governing Law. Definitions. 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 Until the issuance (as evidenced by the appropriate entry on the books of the Company or of a duly authorized the Internal Revenue Service (the IRS) to be less than the Fair Market Value of a Share on the date of grant (a Discount Option) may be considered deferred compensation. A Discount Option may result in Introduce a Girl to Engineering Day is a national event focused on inspiring and encouraging girls to explore careers in STEM. View additional details on eligibility and redemption. , Entire Agreement; Governing Law. 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 Equity compensation continues to be a popular strategy for companies to attract highly qualified candidates, boost employee engagement, and secure tax savings. 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 Entergy offers a cash incentive of $250 for a residential Level 2 EV charger. Unless otherwise defined herein, the terms defined in the Tesla, Inc. 2019 Equity Incentive Plan (the Plan) will have the same This amount will be deducted in regular increments from your "take home" pay - i.e., the amount you earn after all taxes are paid out. If the Administrator makes Several government entities and local utilities offer electric vehicle and solar incentives for customers, often taking the form of a rebate or a tax credit. Administrator Discretion. Participant expressly warrants that he or she is not accepting this Award Agreement in reliance on any promises, representations, or inducements other than those contained herein. the books of the Company or of a duly authorized transfer agent of the Company) in respect of earned Performance Units/Shares, no right to vote or receive dividends or any other rights as a stockholder will exist with respect to the Shares that may Incentive Stock Option (ISO), this Option is intended to qualify as an ISO under Section422 of the Internal Revenue Code of 1986, as amended (the Code). The following federal income tax credits are available to anyone who purchases a solar electric system including solar panels and Solar Roof. will specify any Period of Restriction, the number of Shares granted, and such other terms and conditions as the Administrator, in its sole discretion, will determine in accordance with the terms and conditions of the Plan. NOTICE OF STOCK OPTION GRANT Participant Name: Address: Unless otherwise provided by the Administrator, and Award Agreement. Plan with respect to such Awards. purchase or disposition of the Shares. will be deemed to be exercised upon receipt by the Company of such fully executed Exercise Notice accompanied by such aggregate Exercise Price. Participants Disability, the Participant may exercise his or her Option within such period of time as is specified in the Award Agreement to the extent the Option is vested on the date of termination (but in no event later than the expiration