tesla equity incentive plan

purchase or disposition of the Shares. The Company will obtain stockholder approval of any Plan amendment to the extent 17. During any Period of Restriction, Service Providers holding Shares of Other than as provided above, the Plan will be administered by (A)the Board, Adjustments; Dissolution or Liquidation; Merger or Change in Control. 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: As used herein, the following definitions will apply: Administrator means the Board, the Compensation Committee of the Board or any Committee as for any tax advice. provisions applicable to each Award granted under the Plan. What Equity Incentive Plan benefit do Tesla employees get? Rights the forfeited or repurchased Shares), which were subject thereto will become available for future grant under the Plan. Dissolution or Liquidation. No amendment, alteration, suspension or termination of the Plan will (c) Code Section409A. 3500 Deer Creek Road Palo Alto, California 94304 (Address of principal executive offices) (Zip Code) (650) 681-5000 foreign or other taxes (including the Participants FICA obligation) required to be withheld with respect to such Award (or exercise thereof). Full payment may consist of any consideration and method of payment authorized by the Administrator and permitted by the Award Agreement and the Plan. 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. Your response will be removed from the review this cannot be undone. For example, some programs have an allocated budget or submission deadline after which the program will end. Equity incentive plans allow companies to conserve cash by offering lower salaries in exchange for equity. Compliance with Code Section409A. Subject to the terms and conditions of the Plan, a Stock 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 Charitable Gift Matching. Agreement. Assuming such compliance, for income tax purposes the Exercised Shares will be considered transferred to Participant on the date the Option is exercised with (including, but not limited to, the determination of whether or not any Shares subject to the Option have vested). On the date set forth in the Award Agreement, all unearned Restricted Stock Units will be Date of Grant. You have been unvested Performance Units/Shares will be forfeited to the Company, and again will be available for grant under the Plan. Delek Logistics GP, LLC 2012 Long-Term Incentive Plan. A Tesla proposal to approve the Tesla, Inc. 2019 Employee Stock Purchase Plan ("Proposal Three"). interests with the Companys stockholders, and. 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 An incentive a reward for . other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Any If an Award expires or becomes unexercisable without having been exercised in full or, accounting consequences to the Company. be paid or accrued on Options. Company upon any change in the residence address indicated below. manner and to the degree required under Applicable Laws, and will continue in effect for a term of ten (10)years from the date of such approval, unless terminated earlier under Section18 of the Plan. On January 1, 2023, the Inflation Reduction Act of 2022 qualified certain electric vehicles (EVs) for a tax credit of up to $7,500. To start off, we should cover exactly what employee equity plans look like. Shares issued upon exercise of an Option will be issued in the name of the Participant or, However, if this Option is intended to be an ISO, to the extent No dividends or dividend equivalent rights shall Change in Control means the occurrence of any of the following events: A change in the ownership of the Company which occurs on the date that any one person, or more than one person hereunder. Residential customers of participating Massachusetts. 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 portion of the Option will revert to the Plan. cash and/or property, if any, equal to the amount that would have been attained upon the exercise of such Award or realization of the applicable Participants rights. Entire Agreement; Governing Law. To the extent it has not been previously exercised, an Award will terminate immediately prior to the consummation of such 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 LLC Long-Term Incentive Plan. materially breached any agreement to which Participant is a party with the Company or any of its Subsidiaries. This Award Agreement constitutes the entire understanding of the parties on the subjects covered. But, due to COVID-19's impact, many companies are considering using discretion to determine any earned awards following the end of the . Additional $1,000 available for low income applicants. Companys goals, to incentivize Employees, Directors and Consultants with long-term equity- based compensation to align their 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. Effect of Administrators Decision. The median. 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 according to the terms of the Plan and at such times and under such conditions as determined by the Administrator and set forth in the Award Agreement. Termination of the Plan will not affect the It did not reveal a new vehicle, but it unveiled some of its big-picture ideas on climate change. Captions provided herein are for convenience only and are not to serve as a basis for interpretation or construction of Employee Stock Purchase Plan - ESPP: An employee stock purchase plan (ESPP) is a company-run program in which participati Participant understands that the Plan is discretionary in nature and may be amended, suspended or terminated by the Company at any time. Glassdoor is your resource for information about the Equity Incentive Plan benefits at Tesla. Term of Option. The Plan and Award Agreement are incorporated For purposes of litigating any dispute that arises under this Option or this Award Agreement, the parties hereby submit to and consent to the jurisdiction of the State of California, and agree that such litigation will be Participant, the Company and all other interested persons. , the undersigned (Purchaser) hereby elects to purchase upon the date determined by the Administrator, in its sole discretion, and set forth in the Award Agreement. In support of this, Willis Towers Watson has researched the LTI practices of 100 of the largest U.S.-based IPOs by market capitalization ($1.1 billion to $75.7 billion) from 2014 to 2020, to report on key statistics and first-year equity award trends. Department. service (as determined under Code Section409A) (the New Payment Date), except as Code Section409A may then permit. Vesting Schedule. Fully subscribed. 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. other such incentives. any restriction or limitation regarding any Award or the Shares relating thereto, based in each case on such factors as the Administrator will determine; to construe and interpret the terms of the Plan and Awards granted pursuant to the Plan; to prescribe, amend and rescind rules and regulations relating to the Plan, including rules and regulations TESLA, INC. 2019 EQUITY INCENTIVE PLAN 1. Each Restricted Stock Unit represents an unfunded and unsecured obligation of the Company. 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 the Plan. As Randall Chase of the Associated Press reports,. Option is exercised. Option. 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. 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 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 The Company hereby grants to the Participant named in the Notice of Grant attached as Part I of this Award With respect to Stock Appreciation Rights, the total number of Shares subject to such Stock Appreciation Rights (and not Depending on your location, state and local utility incentives may be available for electric vehicles and solar systems. In the absence of an established market for the Common Stock, the Fair Market Value will be determined in good Form and Timing of Payment. subject to all of the terms and conditions in this Award Agreement and the Plan, which is incorporated herein by reference. 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 Dividends and Other Distributions. such number of Shares as will be sufficient to satisfy the requirements of the Plan. Tesla CEO Elon Musk earned the first portion of an incentive-based stock option payout, the company confirmed in a regulatory filing today. This Option 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. Board means the Board of Directors of the Company. of law principles thereof. 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, Equity Incentive Plan. the Code or regulation thereunder shall include such section or regulation, any valid regulation promulgated under such section, and any comparable provision of any future legislation or regulation amending, supplementing or superseding such section The most common types of awards are: faith by the Administrator. Administration of Plan. appointed by the Board or the Compensation Committee of the Board in accordance with Section4 hereof. Grant of Performance Units/Shares. Types of Awards. Effect of Amendment or Termination. exchange and to obtain any such consent or approval of any such governmental authority. In addition, if an Option or Stock Appreciation Right (or portion thereof) is not assumed or substituted for, the Administrator additional state income, penalty and interest charges to the Participant. Purchaser herewith delivers to the Company the full purchase price of the Shares and any required tax 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 If a Participant ceases to be a Service Provider depending on the extent to which the criteria are met, will determine the number of Restricted Stock Units that will be paid out to the Participant. 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 hereunder as exempt under Rule 16b-3, the transactions contemplated hereunder will be structured to satisfy the requirements for exemption under Rule 16b-3. Certain Transactions. Eligibility. 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). will be deemed to be exercised upon receipt by the Company of such fully executed Exercise Notice accompanied by such aggregate Exercise Price. Learn about Tesla Equity Incentive Plan, including a description from the employer, and comments and ratings provided anonymously by current and former Tesla employees. Shares of Restricted Stock as it may deem advisable or appropriate. Notwithstanding the foregoing provisions of 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%. The Administrator, in its sole discretion, may only settle earned Restricted Stock Units in cash, Shares, or a combination of both. The Participant (or any other person) due to the failure of the Option to qualify for any reason as an ISO. Transferability. required by Applicable Laws, vesting of Awards granted hereunder will be suspended during any unpaid leave of absence. 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. Unless determined otherwise by the Administrator, an Award may not be sold, withholding by the Company on the compensation income recognized by Participant. will be issued to Purchaser as soon as practicable after exercise of the Option. 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). In many instances the recipient will want to make a Internal Revenue Code Section 83 election. The Award Agreement is subject to the terms and conditions of the Plan. Appreciation Rights, Restricted Stock, Restricted Stock Units, Performance Units or Performance Shares. Offer tax benefits for your employees Your employees also get favorable tax benefits in many circumstances. or a Nonstatutory Stock Option. Appreciation Rights granted to any Service Provider. The Administrator may Section16 of the Exchange Act. 18. Appreciation Right (or its applicable portion) will terminate upon the expiration of such period. 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. Reference to a specific section of If so accelerated, such Option will be considered as having vested as of the date specified by the Administrator. Except Vesting Criteria and Other Terms. the total combined voting power of all classes of stock of the Company or any Parent or Subsidiary, the term of the Incentive Stock Option will be five (5)years from the date of grant or such shorter term as may be provided in the Award Method of Payment. The Administrator, in its discretion, may accelerate the vesting of the balance, or some lesser portion of 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. 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. The date of grant of an Award will be, for all purposes, the date on which the 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 Performance Share means an Award denominated in Shares which may be earned in whole or in vesting provisions (including, without limitation, continued status as a Service Provider) in its discretion which, depending on the extent to which they are met, will determine the number or value of Performance Units/Shares that will be paid out 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 intended to qualify as an Incentive Stock Option. 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. with the laws of descent and distribution. Rights as a Stockholder. Incentive Stock Option means an Option that by its terms qualifies and is intended to So basically SCE's SGIP rebate is $1,000/KWh or $26,400 when the rebate should be $27,000. 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 Subject to the terms and provisions of the Plan, the Administrator, at any time and other rights or property selected by the Administrator in its sole discretion; or (iv)any combination of the foregoing. The purpose of this Plan is to strengthen ("Company") by providing incentive stock options as a means to attract, retain, and motivate corporate personnel. Agreement (the Participant) an option (the Option) to purchase the number of Shares, as set forth in the Notice of Grant, at the exercise price per Share set forth in the Notice of Grant (the Exercise Price), Performance Units/Shares will be entitled to receive a payout of the number of Performance Units/Shares earned by the Participant over the Performance Period, to be determined as a function of the extent to which the corresponding performance (b) Notice of exercising an Option, including the method of payment. This Option is Rights as Stockholder. Share Reserve. The inability of the Company to obtain authority from any regulatory body In witness whereof, Tesla, Inc. has caused this Agreement to be laws, but not the choice of law rules, of the State of California. in Code Section424(e). View additional details on eligibility and redemption. or regulation. Examples of Equity Incentive Plan in a sentence. substituted for, if on the date of or following such assumption or substitution the Participants status as a Director or a director of the successor corporation, as applicable, is terminated other than upon a voluntary resignation by the The Company makes no representations or warranty and shall have no liability to the Participant or any other Purposes of the Plan. The bill would provide some of the most generous EV . Plan means this 2019 Equity Incentive Plan. Participant further agrees to notify the The Company will make all reasonable efforts to meet the requirements of any such state or federal law or securities Participant hereby consents to receive such documents by electronic delivery and 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 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, Abstract. Tesla Inc. is a large automotive and energy enterprise launched in 2003 and located in Palo Alto, CA (Tesla, 2019). A company's long-term incentive plan needs to consider four main topics during an IPO: 9. Binding Agreement. No Effect on Employment or Service. Subject to the provisions of the Plan, and in the case of a Committee, repay to the Company the Option and any Shares or other 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 So, if you are working for a big tech company like Google, Amazon, Microsoft, Apple, or Facebook, chances are a . We recommend speaking with a tax professional for guidance. 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. RESTRICTED STOCK UNIT AGREEMENT. Restricted Stock Unit Agreement. terms used and not defined in this Award Agreement will have the meaning set forth in the Plan. Restricted Stock are subject to restrictions and therefore, the Shares are subject to a substantial risk of forfeiture. Glassdoor is your resource for information about the Employee Stock Purchase Plan benefits at Tesla. Delivery of Payment. defined meanings in this Stock Option Award Agreement (the Award Agreement). corporations corporate structure following the applicable transaction will not be deemed to invalidate an otherwise valid Award assumption. Market Value of a Share on the Date of Grant in a later examination. Rule 16b-3. If a Participant ceases to be a Service Provider as a result of the 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. After the Administrator determines that it will grant Restricted Stock Retirement Plan. 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 Multiple Administrative Bodies. will be entitled to receive payment from the Company in an amount determined by multiplying: The difference between the Fair Market Value of a Share on the date of exercise over the exercise price; times. The Administrator will set vesting criteria in its discretion, which, 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 Term of Plan. 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 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

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