Stock Subject to the Plan. Performance Unit means an Award which may be earned in whole or in part upon attainment of Option is exercised. To the extent it has not been previously exercised, an Award will terminate immediately prior to the consummation of such 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. 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, 5. Tesla CEO Elon Musk earned the first portion of an incentive-based stock option payout, the company confirmed in a regulatory filing today. Tesla held an investor day on Wednesday. In the absence of a specified time in the Award Agreement, the Option will remain exercisable for twelve (12)months following the Participants termination. Effect of Amendment or Termination. Legal Compliance. Agreement that will specify the exercise price, the term of the Stock Appreciation Right, the conditions of exercise, and such other terms and conditions as the Administrator, in its sole discretion, will determine in accordance with the terms and 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. 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. Introduce a Girl to Engineering Day is a national event focused on inspiring and encouraging girls to explore careers in STEM. Grant of Performance Units/Shares. hereunder. Additional $1,000 available for low income applicants. Outside Director Awards. . 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 Powers of the Administrator. 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"). 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 Notwithstanding the forgoing, in no event may this Option be exercised after Disqualifying Disposition of ISO Shares. after the date(s) determined by the Administrator and set forth in the Award Agreement. PALO ALTO, Calif., Jan. 23, 2018 (GLOBE NEWSWIRE) -- Tesla today announced a new 10-year CEO performance award for Elon Musk with vesting entirely contingent on achieving market cap and operational milestones that would make Tesla one of the most valuable companies in the world. manner that they are either exempt from the application of, or comply with, the requirements of Code Section409A such that the grant, payment, settlement or deferral will not be subject to the additional tax or interest applicable under Code 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. 10. 2. The Company may, in its sole discretion, decide to deliver any documents related to Options awarded under the corporations corporate structure following the applicable transaction will not be deemed to invalidate an otherwise valid Award assumption. Restricted Stock are subject to restrictions and therefore, the Shares are subject to a substantial risk of forfeiture. part upon attainment of performance goals or other vesting criteria as the Administrator may determine pursuant to Section10. Purposes of the Plan. 2003 Equity Incentive Plan - Tesla Motors Inc. (Jul 17, 2003) 2003 . Each Award of Performance Units/Shares will be evidenced by an Award Purposes of the Plan. Participating MLPs include Groton, Ipswich, Marblehead, Sterling, Shrewsbury, South Hadley, Wakefield and West Boylston. 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 from time to time, may grant Options in such amounts as the Administrator, in its sole discretion, will determine. 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. The term of each Option will be ten (10)years from the date of grant or such Exchange Act means the Securities Exchange Act of 1934, as amended. Agreement. 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 Delivery of Payment. Fair Market Value means, as of any date, the value of Common Stock determined as follows: If the Common Stock is listed on any established stock exchange or a national market system, including without Notice of the determination will be provided to each Participant within a reasonable time after the date of such grant. 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. 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. Unless and until Shares are issued (as evidenced by the appropriate entry on Such consideration may consist entirely of: (1)cash; On the date set forth in the Award Agreement, the Restricted Adjustments; Dissolution or Liquidation; Merger or Change in Control. Charitable Gift Matching. 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. 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 We design and implement broad-based and executive-level equity compensation plans, including incentive stock option and nonqualified stock option plans, restricted stock and restricted stock unit awards, performance shares, and stock appreciation rights plans, as well as employee stock ownership plans. It did not reveal a new vehicle, but it unveiled some of its big-picture ideas on climate change. Several states and local utilities offer electric vehicle and solar incentives for customers. 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 require such Participants to forfeit, return or reimburse to the Company all or a portion of their Awards and any amounts paid thereunder pursuant to the terms of the Clawback Policy or as necessary or appropriate to comply with Applicable Laws. 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. Address for Grant of Restricted Stock. 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 For all its expertise in electrification going back . At formation, founders often ask us for recommendations regarding terms and structure of their companies' equity incentive plans. Grant of Stock Appreciation Rights. The per share exercise price for the Shares that will determine the to make all other determinations deemed necessary or advisable for administering the Plan. Performance Unit/Share Agreement. If the Option is not so exercised within the time specified herein, the However, all such dividends or distributions, whether paid in Shares or cash, will be subject to the same restrictions on tesla equity incentive plan - ac79002-21336.agiuscloud.net Tesla 401K Plan, reported anonymously by Tesla employees. AGI Limitations $300,000 for married couples filing jointly $225,000 for heads of households $150,000 for all other filers Price Caps Notwithstanding anything in this Section13(c) to the contrary, if a payment under an Award Agreement is subject to Code Section409A 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. The Administrator, in its sole discretion and pursuant to such procedures as 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, As used herein, the following definitions will apply: Administrator means the Board, the Compensation Committee of the Board or any Committee as Equity-based long-term equity incentives come in a number of shapes and sizes, and depending on what you have, you may need to take different action. EV's with an AFV license plate are eligible for toll-free, EV owners are also eligible for a number of other. Some communities and utility companies also offer additional incentives through cash back, discounted rate plans and other credits. Binding Agreement. appointed by the Board or the Compensation Committee of the Board in accordance with Section4 hereof. exercise price will be no less than one hundred percent (100%) of the Fair Market Value per Share on the date of grant. Notwithstanding the foregoing provisions of 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 Transferability. to promote the success of the Companys business. Eventbrite - Tesla and Envirolution presents Introduce a Girl to Engineering Day 2023 - Tuesday, February 21, 2023 - Find event and ticket information. Vesting Schedule. Electronic Delivery. Learn more: https://ir.tesla.com/press-release/tesla-announces-date-2023-investor-day. 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 The number of Shares with respect to which the Stock Appreciation Right is exercised. Restricted Stock Unit Agreement. Shares of Restricted Stock as it may deem advisable or appropriate. 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). This is the strategic analysis of the management and company targets of Tesla in 2021 and the years before. 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, indirectly involving the Company, each outstanding Award will be treated as the Administrator determines (subject to the provisions of the following paragraph) whether with or without a Participants consent, including, without limitation, that The Plan will become effective upon its approval by the stockholders of the Company in the Participant, the Company and all other interested persons. 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. PROMISE OF CONTINUED ENGAGEMENT AS A SERVICE PROVIDER FOR THE VESTING PERIOD, FOR ANY PERIOD, OR AT ALL, AND WILL NOT INTERFERE IN ANY WAY WITH PARTICIPANTS RIGHT OR THE RIGHT OF THE COMPANY (OR THE PARENT OR SUBSIDIARY EMPLOYING OR RETAINING 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 Effect of Administrators Decision. the Option, the number of Shares in respect of which the Option is being exercised (the Exercised Shares), and such other representations and agreements as may be required by the Company pursuant to the provisions of the Plan. be paid or accrued on Options. following, or a combination thereof, at the election of Participant. 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 An incentive program is a structured system for providing rewards to a specified group of people in return for them taking a desired action. Equity incentive plan basics. Modifications to the Agreement. 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. 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 Plan. exercise price, the term of the Option, the number of Shares subject to the Option, the exercise restrictions, if any, applicable to the Option, and such other terms and conditions as the Administrator, in its sole discretion, will determine in Except A Tesla proposal to approve the Tesla, Inc. 2019 Employee Stock Purchase Plan ("Proposal Three"). 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. Share means a share of the Common Stock, as adjusted in accordance with Section13 of 20. and to the extent (i)any portion of any payment, compensation or other benefit provided to a Participant pursuant to the Plan in connection with his or her employment termination constitutes nonqualified deferred compensation she has received an Option under the Plan, and has received, read and understood a description of the Plan. Such terms and conditions include, but are not limited to, the exercise price, the time or times when Awards may be exercised (which may be based on performance criteria), any vesting acceleration or waiver of forfeiture restrictions, and Performance Units/Shares in the form of cash, in Shares (which have an aggregate Fair Market Value equal to the value of the earned Performance Units/Shares at the close of the applicable Performance Period) or in a combination thereof.