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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. Participant. 19. If so accelerated, such Option will be considered as having vested as of the date specified by the Administrator. GRANTED THE OPTION OR ACQUIRING SHARES HEREUNDER. Shares will not be issued pursuant to the exercise of an Award unless the exercise of 13. Cancellation of Performance Units/Shares. In the event of the proposed dissolution or liquidation of the Company, the the exercise and refuse to deliver Shares if such withholding amounts are not delivered at the time of exercise. Amendment, Suspension or Termination of the Plan. Note:This credit amount applies to deliveries now and may change during March 2023, at which point credit amounts may be reduced. Today, we are publishing our first ever U.S. Diversity, Equity and Inclusion Report which outlines the current state of our DEI position and actions we are taking to engage with employees, candidates and community members, as we encourage talented people from all backgrounds to join us on our mission to accelerate the worlds transition to sustainable energy. Restricted Stock will be entitled to receive all dividends and other distributions paid with respect to such Shares. Notwithstanding the foregoing provisions of Argentina Australia Belgi (Nederlands) Belgique (Franais) Brasil Canada (English) 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. Notwithstanding the or a Nonstatutory Stock Option. Additional $1,000 available for low income applicants. If the Administrator makes 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. Forfeiture Events. Upon meeting the applicable vesting criteria, the Participant will be 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. Purchaser represents that Purchaser has consulted with any tax consultants Purchaser deems advisable in connection with the purchase or disposition of the Shares and that Purchaser is not relying on the Company RESTRICTED STOCK UNIT AGREEMENT. Captions provided herein are for convenience only and are not to serve as a basis for interpretation or construction of 10% discount on off-peak toll prices on NJT and GSP through EZ-Pass. 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 Your response will be removed from the review this cannot be undone. Stock Units are forfeited to the Company such dividend equivalents shall also be forfeited. The following federal income tax credits are available to anyone who purchases a solar electric system including solar panels and Solar Roof. Fully subscribed. Participant understands that the Plan is discretionary in nature and may be amended, suspended or terminated by the Company at any time. Dividends and Other Distributions. 1. Shares having a Fair Market Value equal to the amount required to be withheld, (iii)delivering to the Company already-owned Shares having a Fair Market Value equal to the amount required to be withheld, or (iv)selling a sufficient number During any Period of Restriction, Service Providers holding Shares of If reemployment upon expiration of a leave of absence approved by the Company is not so guaranteed, then six (6)months following the first Plan Governs. Copyright 20082023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. Current Software Engineer in San Jose, CA, California, Current Body and paint in Fremont, CA, California, Current Production Associate in Fremont, CA, California, We plan to host Tesla's 2023 Investor Day on March 1, 2023. Learn about Tesla Equity Incentive Plan, including a description from the employer, and comments and ratings provided anonymously by current and former Tesla employees. Parent or Subsidiary of the Company. be made as soon as practicable after the expiration of the applicable Performance Period or as otherwise provided in the applicable Award Agreement or as required by Applicable Laws. the Shares that may be subject to such Restricted Stock Units. The Administrator will determine the acceptable form of consideration for If no such beneficiary upon the date determined by the Administrator, in its sole discretion, and set forth in the Award Agreement. 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 Subsidiary means a subsidiary corporation, whether now or hereafter existing, as If a Participant ceases to be a Service Provider to the Participant with respect to the Award on the date that the amount of tax to be withheld is to be determined. Units under the Plan, it will advise the Participant in an Award Agreement of the terms, conditions, and restrictions related to the grant, including the number of Restricted Stock Units. 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. Option is exercised. The purposes of this Plan are: to attract and retain the best available personnel to ensure the Companys success and accomplish the In the event that any provision in this Award Agreement will be held invalid or The median. Transferability. 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 It did not reveal a new vehicle, but it unveiled some of its big-picture ideas on climate change. In summary, the median salary and annual bonus of $1.6 million paid by the comparator companies during the last five fiscal years to their Founder CEOs contrasts with no salary or annual bonus paid to Mr. Musk at Tesla. Option means a stock option granted pursuant to the Plan. Qualifying technologies include wind turbines, waste heat to power technologies . To the extent an Award under the Plan is paid out in cash rather than Shares, such cash In addition, Shares issued in connection with awards that are assumed, converted or substituted pursuant to a merger, acquisition or similar transaction Glassdoor is your resource for information about the Employee Stock Purchase Plan benefits at Tesla. accordance with the following schedule: This Option will be exercisable for three (3)months after the Participant ceases to be a Service Provider, unless such termination is due consistent with, Code Section424(a). https://www.tesla.com/sites/default/files/blog_images/tesla_announcement_social.jpg. 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: Form of Consideration. 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 qualification, consent or approval will have been effected or obtained free of any conditions not acceptable to the Company. 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 Term of Plan. (1st) day of such leave any Incentive Stock Option held by the Participant will cease to be treated as an Incentive Stock Option and will be treated for tax purposes as a Nonstatutory Stock One of the basic purposes of an equity grant is to give employees an incentive to remain in the employ of the grantor and utilize their efforts to help build the value of the enterprise. It did not reveal a new vehicle, but it unveiled some of its big-picture ideas on climate change. With respect to Stock Appreciation Rights, the total number of Shares subject to such Stock Appreciation Rights (and not On the date set forth in the Award Agreement, all unearned or Pension Plan. See More. Participant agrees that Participant may be subject to income tax Options will be taken into account in the order in which they were granted, the Fair Market Value of the Shares will be determined as of the time the Option with respect to such Shares is granted and calculation will be performed in accordance with under the Plan. otherwise be due to such Participant under an Award; and. Step 1. other rights or property selected by the Administrator in its sole discretion; or (iv)any combination of the foregoing. 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. This Option may be exercised only within the term set out in the Notice of Grant, and may be exercised during The bill would provide some of the most generous EV . the Plan; to authorize any person to execute on behalf of the Company any instrument required to effect the grant of an 4. 1. After the Administrator determines that it will grant Restricted Stock Plan with respect to such Awards. Performance Share UnitsThe following table . Restricted Stock Agreement. 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. Transferability of Awards. 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 Stock Subject to the Plan. Participant, the Company and all other interested persons. Performance Unit means an Award which may be earned in whole or in part upon attainment of It is currently around $52 billion. Definitions. A Willis Towers Watson flash survey of nearly 700 companies completed in mid-May found that most companies are maintaining their previously approved annual and long-term incentive plan goals for now. Each Performance Share will have an initial value equal to the Fair Market Value of a Share on the date of grant. 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 Depending on your location, state and local utility incentives may be available for electric vehicles and solar systems. 21. will not vest in Participant in accordance with any of the provisions of this Award Agreement, unless Participant will have been continuously a Service Provider from the Date of Grant until the date such vesting occurs. with respect to voting such Shares and receipt of dividends and distributions on such Shares. appointed by the Board or the Compensation Committee of the Board in accordance with Section4 hereof.