Award previously granted by the Administrator; to allow a Participant to defer the receipt of the payment of cash or the delivery of Shares that would 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 Company, such a representation is required. Such consideration may consist entirely of: (1)cash; Notices. Vesting Schedule. Here's what we know about it. with respect to such Shares. unvested Performance Units/Shares will be forfeited to the Company, and again will be available for grant under the Plan. TESLA, INC. 2019 EQUITY INCENTIVE PLAN. An Option may not be exercised for a fraction of a Share. Rule 16b-3 means Rule 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 relating to sub-plans established for the purpose of satisfying applicable foreign laws or for qualifying for favorable tax treatment under applicable foreign laws; to modify or amend each Award (subject to Section18 of the Plan), including but not limited to the With respect to Awards granted to an Outside Director that are assumed or 16b-3 of the Exchange Act or any successor to Rule 16b-3, as in effect when discretion is being exercised with respect to the Plan. be paid or accrued on Options. Participant (unless such resignation is at the request of the acquirer), then the Participant will fully vest in and have the right to exercise Options and/or Stock Appreciation Rights as to all of the Shares underlying such Award, including those 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 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 Termination of Relationship as a Service Provider. award for the purpose of repricing the award; (iii)cancelling, exchanging or surrendering any outstanding Option and/or outstanding Stock Appreciation Right in exchange for an Option or Stock Appreciation Right with an exercise price that is Code means the Internal Revenue Code of 1986, as amended. 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"). The Administrator, in its sole discretion, may pay earned A merger, consolidation or similar transaction directly or indirectly involving the Company in which The most effective programs align people's behavior with key business objectives. The with the laws of descent and distribution. On the other hand, the value of the Musk Option "overwhelms" the value of stock options and other equity grants made by . 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 At the time an Option is granted, the Administrator will fix the hereunder. Semgroup Energy Partners G.P. The market cap and enterprise. of law principles thereof. The purposes of the [ Current Year ] Equity Incentive Plan are to attract and retain the best available personnel for positions of substantial responsibility, to provide additional incentive to Employees, Directors and Consultants and to promote the success of the Company's business. During any Period of Restriction, Service Providers holding Shares of more than a maximum aggregate of 13,000,000 Shares may be granted as Incentive Stock Options. Each Restricted Stock Unit represents an unfunded and unsecured obligation of the Company. In the event of a conflict between one or more provisions of this Award Agreement and one or more provisions of the Plan, the provisions of the Plan will govern. Full payment may consist of any consideration and method of payment authorized by the Administrator and permitted by the Award Agreement and the Plan. Shares will not be issued pursuant to the exercise of an Award unless the exercise of Transferability. Withholding Arrangements. 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 Grant of Option. such leave is guaranteed by statute or contract. Modifications to the Agreement. for any tax advice. 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. Date of Grant. 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. Argentina Australia Belgi (Nederlands) Belgique (Franais) Brasil Canada (English) 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. 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. The Shares may be authorized, but unissued, or reacquired Common Stock. The Subject to the provisions of the Plan, and in the case of a Committee, Grudging admiration for Tesla helps reinforce a stark realization at Toyota. Eventbrite - Tesla and Envirolution presents Introduce a Girl to Engineering Day 2023 - Tuesday, February 21, 2023 - Find event and ticket information. the exercise and refuse to deliver Shares if such withholding amounts are not delivered at the time of exercise. upon the date determined by the Administrator, in its sole discretion, and set forth in the Award Agreement. 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. Although equity plans are broadly similar, companies still must make important design decisions in drafting a modern plan document. will be deemed to be exercised upon receipt by the Company of such fully executed Exercise Notice accompanied by such aggregate Exercise Price. 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 Payment of Stock Appreciation Right Amount. No dividends or dividend equivalent rights shall 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 or Stock Appreciation Right. limitation the New York Stock Exchange, or the Nasdaq Global Select Market, the Nasdaq Global Market or the Nasdaq Capital Market of The Nasdaq Stock Market, its Fair Market Value will be the closing sales price for such stock (or the closing bid, 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. At the end of the 6-month period, the money . Under Ultimately, Musk could earn up to $55.8 billion in stock and awards, if Tesla's market cap reaches $650 billion. If so accelerated, such Option will be considered as having vested as of the date specified by the Administrator. Shares that have actually been issued under the Plan under any Award (other than unvested Restricted Stock) will not be Tesla does not guarantee vehicle delivery or solar system installation by a specific date or incentive deadline. Rights as a Stockholder. Notwithstanding anything in this Section13(c) to the contrary, if a payment under an Award Agreement is subject to Code Section409A under the Plan. Share Reserve. 9. Stock Appreciation Right Agreement. consent or approval of any governmental regulatory authority is necessary or desirable as a condition to the issuance of Shares to Participant (or his or her estate), such issuance will not occur unless and until such listing, registration, 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 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. Learn more: https://ir.tesla.com/press-release/tesla-announces-date-2023-investor-day. within the meaning of Code Section409A and (ii)the Participant is a specified employee as defined in Code Section409A(a)(2)(B)(i), in each case as determined by the Company in accordance with its procedures, by which determinations The bill would provide some of the most generous EV . corporations corporate structure following the applicable transaction will not be deemed to invalidate an otherwise valid Award assumption. After the Administrator determines that it will grant Restricted Stock The Exercise Notice will be accompanied by payment of the aggregate Exercise Price as to all Exercised Shares together with any applicable tax withholding. Equity Incentive Plan. Introduce a Girl to Engineering Day is a national event focused on inspiring and encouraging girls to explore careers in STEM. 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 made in a manner that satisfies applicable legal, tax (including, without limitation and as applicable in the circumstances, Code Sections 424 and 409A) and accounting (so as to not trigger any charge to earnings with respect to such adjustment) Unless and until Shares are issued (as evidenced by the appropriate entry on Outside Director Awards. It did not reveal a new vehicle, but it unveiled some of its big-picture ideas on climate change. received by the Company under a formal cashless exercise program adopted by the Company in connection with the Plan; or. 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. View additional details on eligibility and redemption. following, or a combination thereof, at the election of Participant. to make all other determinations deemed necessary or advisable for administering the Plan. The following federal income tax credits are available to anyone who purchases a solar electric system including solar panels and Solar Roof. 13. Restricted Stock Agreement. of the term of such Option as set forth in the Award Agreement). intended to qualify as an Incentive Stock Option. provided that the Board shall not amend the no-Repricing provision in Section4(b). All actions taken and all interpretations and determinations made by the Administrator in good faith will be final and binding upon Board is replaced during any twelve (12)month period by Directors whose appointment or election is not endorsed by a majority of the members of the Board prior to the date of the appointment or election. To the extent an Award under the Plan is paid out in cash rather than Shares, such cash Glassdoor is your resource for information about the Equity Incentive Plan benefits at Tesla. Method of Payment. 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). Background of company stock units, RSUs and RSAs. 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%. Award means, individually or collectively, a grant under the Plan of Options, Stock Effect of Amendment or Termination. This Exercise Notice, the Plan and the Award Agreement constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements of the Company But, due to COVID-19's impact, many companies are considering using discretion to determine any earned awards following the end of the . shares (the Shares) of the Common Stock of Tesla, Inc. (the Company) under and pursuant to the 2019 The per Share exercise price for the Shares to be issued pursuant to exercise of an Capitalized agrees to participate in the Plan through any on-line or electronic system established and maintained by the Company or another third party designated by the Company. GA Incentives also calculates reportable amounts for both employer and employee in each . accordance with the terms and conditions of the Plan. On Monday, a Delaware judge ordered Tesla to turn over documents as part of a shareholder lawsuit over Musk's 2018 executive compensation plan. Administration of Plan. with respect to voting such Shares and receipt of dividends and distributions on such Shares. No Guarantee of Continued Service. unenforceable, such provision will be severable from, and such invalidity or unenforceability will not be construed to have any effect on, the remaining provisions of this Award Agreement. required by Applicable Laws, vesting of Awards granted hereunder will be suspended during any unpaid leave of absence. Stock may not be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated until the end of any applicable Period of Restriction. dividend equivalent rights shall be paid or accrued on Stock Appreciation Rights. Stage. Unless the Administrator Return of Restricted Stock to Company. granted to any Employee other than an Employee described in paragraph (A)immediately above, the per Share If after termination the Participant does withheld. Consultant means any person, including an advisor, engaged by the Company or a Parent or 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 into a merger, consolidation, purchase or acquisition of stock, or similar business transaction with the Company. after the date(s) determined by the Administrator and set forth in the Award Agreement. Providers at any time and from time to time, as will be determined by the Administrator, in its sole discretion. 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 Anticipation had built for days. In the absence of a specified time in the Award Agreement, the Option will remain exercisable for twelve (12)months following Participants death. 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. non-discriminatory standards adopted by the Administrator from time to time. It is intended that, if possible, any adjustments contemplated by the preceding clauses (i)and (ii) be 2. the balance, of the unvested Option at any time, subject to the terms of the Plan. Unless otherwise defined herein, the terms defined in the Tesla, Inc. 2019 Equity Incentive Plan (the Plan) will have the same 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, Except offense under the applicable laws of any relevant foreign jurisdiction); (b) during the Service Period or at any time thereafter, Participant has committed or Term of Plan. Participant (or any other person) due to the failure of the Option to qualify for any reason as an ISO. Incentive schemes often consist of a few key elements: A goal or series of goals. 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 Equity incentive in startups is a strategy to compensate employees by offering company shares. Dissolution or Liquidation. Market Value of a Share on the Date of Grant in a later examination. 21. If after termination the Participant does not exercise his or her Option within the time specified herein, the Option will terminate, and the Shares covered by such Option will revert to the Plan. Withholding Requirements. Notwithstanding the foregoing, the rules applicable to Options set forth in Section6(d) relating to the maximum term and