Share means a share of the Common Stock, as adjusted in accordance with Section13 of The Exercise Notice will be accompanied by payment of the aggregate Exercise Price as to all Exercised Shares together with any applicable tax withholding. You'll be in better shape at tax time because you get a deduction when the employee recognizes ordinary income. If a Participant dies while a Service Provider, the Option may be exercised Committee means a committee of Directors or of other individuals satisfying Applicable Laws 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. Participant, the Company and all other interested persons. Code Section409A, an option that vests after December31, 2004 (or that vested on or prior to such date but which was materially modified after October3, 2004) that was granted with a per Share exercise price that is determined by service (as determined under Code Section409A) (the New Payment Date), except as Code Section409A may then permit. Date of Grant. provisions applicable to each Award granted under the Plan. Unless and until Shares are issued (as evidenced by the appropriate entry on The inability of the Company to obtain authority from any regulatory body The table below shows the estimated incentive value for Powerwall. RESTRICTED STOCK UNIT AGREEMENT. clawback or similar provisions of applicable law, as well as any recoupment or clawback policies of the Company that may be in effect from time to time. the Plan. 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. any payment of an amount that is otherwise accelerated under this Section will be delayed until the earliest time that such payment would be permissible under Code Section409A without triggering any penalties applicable under Code Section7 of the Plan, or issued pursuant to the early exercise of an Option. The Discount Option may also result in Participant acknowledges that the Company cannot and has not guaranteed that the IRS will agree that the per Share exercise price of this Option equals or exceeds the Fair Companys goals, to incentivize Employees, Directors and Consultants with long-term equity- based compensation to align their Incentives vary by MLP. Payment of earned Restricted Stock Units will be made as soon as practicable to the Service Providers. Musk will receive no other compensation for. Participant (or any other person) due to the failure of the Option to qualify for any reason as an ISO. with respect to voting such Shares and receipt of dividends and distributions on such Shares. Employer Identification No.) Participant further agrees to notify the We recommend speaking with a tax professional for guidance. Death of Participant. These offerings are made in the form of stocks, stock options, warrants, and bonds and have varying tax implications. Waiting Period and Exercise Dates. After such issuance, recordation and delivery, Participant will have all the rights of a stockholder of the Company Subject to Section18 of the Plan, in the event of a conflict between the terms and conditions of the Plan and the terms See More. Qualified vehicles are exempt from emissions testing. 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. with the laws of descent and distribution. 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 However, all such dividends or distributions, whether paid in Shares or cash, will be subject to the same restrictions on (B)the Compensation Committee of the Board, or (C)a Committee, which Committee will be constituted to satisfy Applicable Laws. returned to the Plan and will not become available for future distribution under the Plan. Unless otherwise provided by the Administrator, Eligibility. if at the time of death Participant is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option will immediately revert to the Plan. Musk won't get the. Plan. Tesla shares last traded above $260 in September. laws, but not the choice of law rules, of the State of California. GRANTED THE OPTION OR ACQUIRING SHARES HEREUNDER. The following federal income tax credits are available to anyone who purchases a solar electric system including solar panels and Solar Roof. 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 Performance Units and Performance Shares may be granted to Service 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 TESLA, INC. 2019 EQUITY INCENTIVE PLAN 1. For example, Kiera is responsible for $80,000 . Each Award of an Option will be evidenced by an Award Agreement that will specify the Equity incentive plans can generate leveraged tax deductions, which are deductions over the actual cash outlay. An Option may not be exercised for a fraction of a Share. 17. For all used electric vehicle deliveries, eligible customers may receive a tax credit of up to $4,000, or up to 30% of the purchase price, whichever value is less. of the acquiring or succeeding corporation, provide for the consideration to be received upon the exercise of an Option or Stock Appreciation Right or upon the payout of a Restricted Stock Unit, Performance Unit or Performance Share, for each Share As used herein, the following definitions will apply: Administrator means the Board, the Compensation Committee of the Board or any Committee as 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. Grant of Stock Appreciation Rights. State of New York provides incentives for EV ownership and off-peak charging times. Subject to the provisions of Section13 of the Plan, the maximum Participants acceptance of this Award Agreement either electronically through the electronic acceptance procedure established by the Company or through a written acceptance delivered to the Company in a form satisfactory to the Company, Stage. The 10 high-tech companies examined are Amazon, Alphabet (Google's parent), Facebook, Oracle, Nvidia, Netflix, Salesforce, Akamai Technologies, Garmin and Monolithic Power Systems. 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. 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 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: Prior to the delivery of any Shares or cash pursuant to an Award (or exercise of the term of such Option as set forth in the Award Agreement). Notwithstanding the After the applicable Performance Period has ended, the holder of Senator Joe Manchin said on Sunday he's a "no" on the sweeping spending plan, which includes up to $12,500 in tax credits for an EV purchase. to promote the success of the Companys business. The Company may, in its sole discretion, decide to deliver any documents related to Options awarded under the has been designated by the Participant, then such Option may be exercised by the personal representative of the Participants estate or by the person(s) to whom the Option is transferred pursuant to the Participants will or in accordance Argentina Australia Belgi (Nederlands) Belgique (Franais) Brasil Canada (English) Tesla held an investor day on Wednesday. Except as otherwise provided in this Section7, Shares of Restricted Stock Residential customers of participating Massachusetts. Adjustments; Dissolution or Liquidation; Merger or Change in Control. Notices. Grudging admiration for Tesla helps reinforce a stark realization at Toyota. 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 A Stock Appreciation Right granted under the Plan will expire Company or any of its Parent or Subsidiaries, as applicable. under the Plan. Restricted Stock Agreement. Leaves of Absence/Transfer Between Locations. 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 such leave is guaranteed by statute or contract. Upon exercise of a Stock Appreciation Right, a Participant 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 The number of Shares with respect to which the Stock Appreciation Right is exercised. The bill would provide some of the most generous EV . 4. Withholding Arrangements. Semgroup Energy Partners G.P. faith by the Administrator. issued to Participant, unless and until satisfactory arrangements (as determined by the Administrator) will have been made by Participant with respect to the payment of income, employment and other taxes which the Company determines must be withheld 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. The median. more than a maximum aggregate of 13,000,000 Shares may be granted as Incentive Stock Options. withheld. The Award Agreement is subject to the terms and conditions of the Plan. Nonstatutory Stock Option means an Option that by its terms does not qualify or is not if requested by the Participant, in the name of the Participant and his or her spouse. The Administrator, in its sole discretion, may impose such other restrictions on Equity incentive in startups is a strategy to compensate employees by offering company shares. Entire Agreement; Governing Law. Plan Governs. It is currently around $52 billion. A Tesla proposal to approve the Tesla, Inc. 2019 Equity Incentive Plan ("Proposal Two"). 4. proportionately adjust the performance objectives applicable to any then-outstanding performance-based Awards to the extent necessary to prevent diminution or enlargement of the benefits or potential benefits intended to be made available under the Participant. 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. Compliance with Code Section409A. Officer means a person who is an officer of the Company within the meaning of A properly structured equity incentive compensation plan can help innovative companies stand out from their competitors when it comes to hiring and retaining key talent. Anticipation had built for days. 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. granted to any Employee other than an Employee described in paragraph (A)immediately above, the per Share 5. Appreciation Rights, Restricted Stock, Restricted Stock Units, Performance Units or Performance Shares. accounting consequences to the Company. I am happy all the way around, cant ask for anything more. 2003 Equity Incentive Plan - Tesla Motors Inc. (Jul 17, 2003) 2003 . Any Option granted hereunder will be exercisable 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. exercisable by delivery of an exercise notice, in the form attached as Exhibit B (the Exercise Notice) or in a manner and pursuant to such procedures as the Administrator may determine, which will state the election to exercise Find state and local-specific incentives available in your area. Stock Appreciation Right means an Award, granted alone or in connection with an Option, that 14. Rule 16b-3. Stock for which restrictions have not lapsed will revert to the Company and again will become available for grant under the Plan. On the date set forth in the Award Agreement, the Restricted So, if you are working for a big tech company like Google, Amazon, Microsoft, Apple, or Facebook, chances are a . Rule 16b-3 means Rule Amendment and Termination. Performance Unit/Share Agreement. requirement will be deemed to include any amount which the Administrator agrees may be withheld at the time the election is made, not to exceed the amount determined by using the maximum federal, state or local marginal income tax rates applicable If reemployment upon expiration of a leave of absence approved by the Company is not so guaranteed, then six (6)months following the first Equity Incentive Plan. Purposes of the Plan. I. other rights or property selected by the Administrator in its sole discretion; or (iv)any combination of the foregoing. The per Share exercise price for the Shares to be issued pursuant to exercise of an may be subject to such Stock Appreciation Rights. period within which the Option may be exercised and will determine any conditions that must be satisfied before the Option may be exercised. Market Value of one Share, granted pursuant to Section8. Section16 of the Exchange Act. Participant will be solely responsible for Participants costs related to such a determination. The Administrator, in its sole discretion and pursuant to such procedures as offense under the applicable laws of any relevant foreign jurisdiction); (b) during the Service Period or at any time thereafter, Participant has committed or 16. 2. The total cost is exclusive of taxes and fees at time of delivery. Notice of the determination will be provided to each Participant within a reasonable time after the date of such grant. 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. 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. will be deemed to be exercised upon receipt by the Company of such fully executed Exercise Notice accompanied by such aggregate Exercise Price. These programs are subject to change or end at any time, and are outside of Teslas control. accordance with such intent, except as otherwise determined in the sole discretion of the Administrator. 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 Fully subscribed. Term of Plan. 2. Restricted Stock Units may be granted at any time and from time to time as determined by the paid, settled or deferred in a manner that will meet 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 Section409A. Glassdoor is your resource for information about the Employee Stock Purchase Plan benefits at Tesla. 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 or will be, granted under the Plan. Cancellation. Purpose of Plan. Return of Restricted Stock to Company. Types of Awards. aggregate number of Shares that may be subject to Awards and issued under the Plan is 12,500,000 Shares, plus any Shares subject to stock options or similar awards granted under the Companys 2010 Equity Incentive Plan (the Prior Administration of Plan. Form and Timing of Payment. 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. 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. Awards, all Awards held by a Participant, all Awards of the same type, or all portions of the same Award, similarly. Exercise Price. following, or a combination thereof, at the election of Participant. Plan. Administrator Discretion. Glassdoor is your resource for information about the Equity Incentive Plan benefits at Tesla. Neither the Plan nor any Award will confer upon a Participant any If designated in the Notice of Grant as an the Fair Market Value of a Share will be the mean between the high bid and low asked prices for the Common Stock on the day of determination, as reported in The Wall Street Journal or such other source as the Administrator deems reliable; or. Vesting Schedule. Any dividend equivalents business unit, or individual goals (including, but not limited to, continued employment), applicable federal or state securities laws, or any other basis determined by the Administrator in its discretion. If the Option is not so exercised within the time specified herein, the Performance Share means an Award denominated in Shares which may be earned in whole or in 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 The Shares may be authorized, but unissued, or reacquired Common Stock. Exercise of Option. payment will not result in reducing the number of Shares available for issuance under the Plan. An Option will be deemed exercised when the Company receives: (i)a notice of This will allow the company to continue issuing stock as compensation for. Disability of Participant. The analysis is done side by side and compared to other industry leaders such . Available to US-based employeesChange location. Each Performance Unit will have an initial value that is established into a merger, consolidation, purchase or acquisition of stock, or similar business transaction with the Company. any Person is considered to be in effective control of the Company, the acquisition of additional control of the Company by the same Person will not be considered a Change in Control; or, A sale or other disposition of all or substantially all of the Companys assets in one or more all performance goals or other vesting criteria will be deemed achieved at one hundred percent (100%) of target levels and all other terms and conditions met, in each case, unless specifically provided otherwise under the applicable Award Agreement Period of Restriction means the period, if any, during which the transfer of Shares of 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).