Approximate incentive is per Powerwall (up to 2) by step (updated December 2021). an express written contract executed by a duly authorized officer of the Company. Performance Share UnitsThe following table . In taking any of the actions permitted under this Section13(c), the Administrator will not be obligated to treat all 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. 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. 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. Your response will be removed from the review this cannot be undone. Incentive Stock Option means an Option that by its terms qualifies and is intended to Notwithstanding the foregoing provisions of The Board may at any time amend, alter, suspend or terminate the Plan Charitable Gift Matching. Retirement Plan. Full payment may consist of any consideration and method of payment authorized by the Administrator and permitted by the Award Agreement and the Plan. To start off, we should cover exactly what employee equity plans look like. Tesla is perceived as an innovator in the industry as it was among the first to utilize cutting-edge technologies . However, if this Option is intended to be an ISO, to the extent In the absence of a specified time in the Award Agreement, the Option will remain exercisable for twelve (12)months following Participants death. 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. Option. defined in Code Section424(f). 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. (a) Withholding Taxes. 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. PARTICIPANT ACKNOWLEDGES AND AGREES THAT THE This agreement is governed by the internal substantive this Section6(e)(i) of the Plan, Options may be granted with a per Share exercise price less than one hundred percent (100%) of the Fair Market Value per Share on the date of grant pursuant to a transaction described in, and in a manner As Randall Chase of the Associated Press reports,. (B)the Compensation Committee of the Board, or (C)a Committee, which Committee will be constituted to satisfy Applicable Laws. 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. Capitalized Rule 16b-3 means Rule The Company, during the term of this Plan, will at all times reserve and keep available Employee Stock Purchase Plan - ESPP: An employee stock purchase plan (ESPP) is a company-run program in which participati accordance with such intent, except as otherwise determined in the sole discretion of the Administrator. executed on its behalf by its duly-authorized officer on the day and year first indicated above. Electronic Delivery. In addition, if an Option or Stock Appreciation Right (or portion thereof) is not assumed or substituted for, the Administrator PSAV Holdings LLC Phantom Unit Appreciation Plan and Award Agreement. less than the exercise price of the original award; and (iv)taking any other action under the Plan that constitutes a repricing under Applicable Laws; provided that a Repricing shall not include any action taken with stockholder from time to time, may grant Options in such amounts as the Administrator, in its sole discretion, will determine. Find state and local-specific incentives available in your area. Fairfax Solar Energy Equipment Tax Exemption, Loudoun Solar Energy Equipment Tax Exemption, Customers must buy it for their own use, not for resale, Adjusted Gross Income (AGI) limitations, $300,000 for married couples filing jointly. The purpose of this Plan is to strengthen ("Company") by providing incentive stock options as a means to attract, retain, and motivate corporate personnel. 20. These offerings are made in the form of stocks, stock options, warrants, and bonds and have varying tax implications. Plan. Participating MLPs include Groton, Ipswich, Marblehead, Sterling, Shrewsbury, South Hadley, Wakefield and West Boylston. 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 discretionary authority to extend the post-termination exercisability period of Awards, subject to the no-Repricing provision below; to allow Participants to satisfy withholding tax obligations in such manner as prescribed in Section14 of 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. For example, Kiera is responsible for $80,000 . Residential customers of participating Massachusetts. 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. 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. 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 herein by reference. will be deemed to be exercised upon receipt by the Company of such fully executed Exercise Notice accompanied by such aggregate Exercise Price. than ten percent (10%) of the voting power of all classes of stock of the Company or any Parent or Subsidiary, the per Share exercise price will be no less than one hundred ten percent (110%) of the Fair Market Value per Share on the date of grant. Notwithstanding the generality of the foregoing, in the event of a merger, consolidation or similar transaction directly or indirectly 11. exercising an Option, including the method of payment. Stock Appreciation Right Agreement. The vehicle price includes optional equipment physically attached to the vehicle at the time of delivery and excludes software features, accessories, taxes and fees. Participants Disability, the Participant may exercise his or her Option within such period of time as is specified in the Award Agreement to the extent the Option is vested on the date of termination (but in no event later than the expiration Residential Federal Investment Tax Credit (ITC). 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. Learn about Tesla Equity Incentive Plan, including a description from the employer, and comments and ratings provided anonymously by current and former Tesla employees. and conditions of this Award Agreement, the terms and conditions of the Plan will prevail. Notwithstanding anything to the contrary herein, in no event shall the Administrator effect any Repricing of any Option the Term/expiration date as provided above and may be subject to earlier termination as provided in Section13 of the Plan. . The Administrator, in its discretion, may accelerate the vesting of the balance, or some lesser portion of Prior to the delivery of any Shares or cash pursuant to an Award (or exercise 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. Investor Day streaming live on Twitter & YouTube at 3pm CT tomorrow . to make all other determinations deemed necessary or advisable for administering the Plan. 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. 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. The Shares may be authorized, but unissued, or reacquired Common Stock. In 2018, the Tesla board fashioned a 10-year pay plan for founder and CEO Elon Musk that so far stands as the most successful long-term compensation blueprint in history. be subject to such Performance Units/Shares. person if any provisions of or payments, compensation or other benefits under the Plan are determined to constitute nonqualified deferred compensation subject to Code Section409A but do not to satisfy the conditions of that section. The Administrator, in its sole discretion, may pay earned Restricted Stock will be entitled to receive all dividends and other distributions paid with respect to such Shares. The Plan permits the grant of Incentive Stock Options, Nonstatutory Stock Options, Restricted Stock, Restricted Stock Units, Stock Appreciation 2003 Equity Incentive Plan - Tesla Motors Inc. (Jul 17, 2003) 2003 . Modifications to the Agreement. impair the rights of any Participant, unless mutually agreed otherwise between the Participant and the Administrator, which agreement must be in writing and signed by the Participant and the Company. Adjustments; Dissolution or Liquidation; Merger or Change in Control. What Equity Incentive Plan benefit do Tesla employees get? Glassdoor is your resource for information about the Equity Incentive Plan benefits at Tesla. 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 No Awards shall be granted pursuant to the Plan after such Plan termination or Anticipation had built for days. 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) Eligibility. In the event of the proposed dissolution or liquidation of the Company, the Estimated Rebate Value. 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 Purpose of Plan. Other Restrictions. The amount of the withholding These programs are subject to change or end at any time, and are outside of Teslas control. Performance Objectives and Other Terms. Except as provided in this Section7 or the Award Agreement, Shares of Restricted The Administrator will determine the acceptable form of consideration for 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 the balance, of the unvested Option at any time, subject to the terms of the Plan. Rebates can be claimed at or after purchase, while tax credits are claimed when filing income taxes. An Option will be deemed exercised when the Company receives: (i)a notice of Appreciation Rights, Restricted Stock, Restricted Stock Units, Performance Units or Performance Shares. combination of the foregoing methods of payment. Energy storage paired with solar systems are considered qualified expenditures eligible for the tax credit. 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. Awards will be designed and operated in such a as provided in Section3, the Option awarded by this Award Agreement will vest in accordance with the vesting provisions set forth in the Notice of Grant. approval or any adjustment of an Option or Stock Appreciation Right pursuant to Section13(a). Until the Shares are issued (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company), no right to 13. Notwithstanding the foregoing, at any time after the grant of Restricted Stock Units, the Administrator, in its sole discretion, may reduce or waive any vesting criteria that must be Transferability of Awards. Effective as of today, Common Stock means the common stock of the Company. Unless otherwise defined herein, the terms defined in the Tesla, Inc. 2019 Equity Incentive Plan (the Plan) will have the same exercise (in such form as the Administrator may specify from time to time) from the person entitled to exercise the Option, and (ii)full payment for the Shares with respect to which the Option is exercised (together with applicable withholding The aggregate of any payments that otherwise would have been paid to the Participant during the Glassdoor is your resource for information about the Equity Incentive Plan benefits at Tesla. 8. Amendment and Termination. of law principles thereof. 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. A company's long-term incentive plan needs to consider four main topics during an IPO: Purchaser has received, read and understood the Plan and the Award Agreement and agrees to abide by and be bound by their terms and conditions. (d) surrender of 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 Captions. 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 Purposes of the Plan. Restricted Stock are subject to restrictions and therefore, the Shares are subject to a substantial risk of forfeiture. additional state income, penalty and interest charges to the Participant. Restricted Stock Agreement. described in the preceding clause (i)or a sale of all or substantially all of the business or assets of the Company as an entirety, unless specified otherwise in the applicable Award Agreement, the Administrator will equitably and If a Participant dies while a Service Provider, the Option may be exercised Equity incentive plans can generate leveraged tax deductions, which are deductions over the actual cash outlay. 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 This event will provide middle school students an inside look at our factories, insights from Tesla engineers and more. 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. To calculate a sales-based incentive payment, multiply the total sales profit times the percentage of commission. 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. In the case of a Nonstatutory Stock Option, the per Share exercise price will be no less than one hundred Administrator Authority. These awards can represent a significant part of your total compensationand should be taken into consideration as you build your overall financial plan. Any dividend equivalents Option is vested on the date of termination (but in no event later than the expiration of the term of such Option as set forth in the Award Agreement). Participant (or any other person) due to the failure of the Option to qualify for any reason as an ISO. shares (the Shares) of the Common Stock of Tesla, Inc. (the Company) under and pursuant to the 2019 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. the Shares that may be subject to such Restricted Stock Units. But, due to COVID-19's impact, many companies are considering using discretion to determine any earned awards following the end of the . GRANTED THE OPTION OR ACQUIRING SHARES HEREUNDER. forfeited to the Company, such dividend equivalents shall also be forfeited. Step 2. Participant hereby consents to receive such documents by electronic delivery and 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 Non-Transferability of This Option may be exercised only within the term set out in the Notice of Grant, and may be exercised during Learn why finance leaders should consider whether there is a process in place to identify and mitigate several potential risks of incentive . 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 After the applicable Performance Period has ended, the holder of Rights as a Stockholder. Amendment, Suspension or Termination of the Plan. requirements. Tesla is asking shareholders for approval to issue 12.5 million new shares as part of a new equity incentive plan. No adjustment will be made for a dividend or other right for which the record date is prior to the date of issuance, except as provided in Section13 of the Plan. The most common types of awards are: Nant Health, LLC Phantom Unit Plan. You have been 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. withholding by the Company on the compensation income recognized by Participant. The I am happy all the way around, cant ask for anything more. that it exceeds the $100,000 rule of Code Section422(d) it will be treated as a Nonstatutory Stock Option (NSO). consistent with, Code Section424(a). 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. Reference to a specific section of faith by the Administrator. Subject to the terms and provisions of the Plan, the Administrator, at any having jurisdiction or to complete or comply with the requirements of any registration or other qualification of the Shares under any state, federal or non U.S. law or under the rules and regulations of the Securities and Exchange Commission, the amount would have been attained upon the exercise of such Award or realization of the applicable Participants rights thereunder, then such Award may be terminated by the Company without payment), or (2)such Awards will be replaced with Service Provider means an Employee, Director or Consultant. This Award Agreement is subject to all terms and provisions of the Plan. As used herein, the following definitions will apply: Administrator means the Board, the Compensation Committee of the Board or any Committee as Participants status as a Service Provider with the Company or any of its Subsidiaries (the Service Period), the Participant has committed a felony (under the laws of the United States or any relevant state, or a similar crime or Performance Units and Performance Shares. Upon meeting the applicable vesting criteria, the Participant will be more than a maximum aggregate of 13,000,000 Shares may be granted as Incentive Stock Options. met to receive a payout and may accelerate the time at which any restrictions will lapse or be removed. 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 If the Administrator makes for any tax advice. 1. During any Period of Restriction, Service Providers holding Shares of In the event that any dividend or other distribution (whether in the form of cash, Shares, other securities, or Tesla CEO Elon Musk earned the first portion of an incentive-based stock option payout, the company confirmed in a regulatory filing today. Status. If an Award expires or becomes unexercisable without having been exercised in full or, Except as otherwise provided in this Section7, Shares of Restricted Stock So basically SCE's SGIP rebate is $1,000/KWh or $26,400 when the rebate should be $27,000. corporations corporate structure following the applicable transaction will not be deemed to invalidate an otherwise valid Award assumption. Examples of Equity Incentive Plan in a sentence. Restricted Stock means Shares issued pursuant to a Restricted Stock award under 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 portion of the Option will revert to the Plan. For purposes of Incentive Stock Options, no such leave may exceed three (3)months, unless reemployment upon expiration of No Guarantee of Continued Service. if no sales were reported) as quoted on such exchange or system on the day of determination, as reported in The Wall Street Journal or such other source as the Administrator deems reliable; If the Common Stock is regularly quoted by a recognized securities dealer but selling prices are not reported, Learn about Tesla Equity Incentive Plan, including a description from the employer, and comments and ratings provided anonymously by current and former Tesla employees. 3. 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 pursuant to Section9 is designated as a Stock Appreciation Right. If reemployment upon expiration of a leave of absence approved by the Company is not so guaranteed, then six (6)months following the first 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 world's transition to (Tesla's proxy statements indicate that Mr. Musk was provided an annual salary in the range of $33,000 to $50,000 during that five-year periodapparently to comply with minimum wage requirements under California law. Disqualifying Disposition of ISO Shares. Return of Restricted Stock to Company. 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 obtained. Restricted Stock Unit Agreement. 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. PSAV Holdings LLC 2014 Management Incentive Plan (Profits . Tesla Equity Incentive Plan, reported anonymously by Tesla employees. Each Stock Appreciation Right grant will be evidenced by an Award may be subject to such Stock Appreciation Rights. 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. 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 Legal Compliance. Reduces employee turnover To the extent that an Award or payment, or the settlement or deferral thereof, is subject to Code Section409A the Award will be granted, 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 Digital Assets - You Can't Take Them With You Top Five Reasons You Should Mediate Your Dispute Parent or Subsidiary of the Company. Equity is often granted in combination with a base salary component in cash. qualify as an incentive stock option within the meaning of Section422 of the Code and the regulations promulgated thereunder. service (as determined under Code Section409A) (the New Payment Date), except as Code Section409A may then permit. Plan with respect to such Awards. No Effect on Employment or Service. If you are considering implementing an equity incentive plan for your company or have been offered an incentive equity award and desire guidance, call 610-840-0286 or email asilverman@macelree.com. Grant of Performance Units/Shares. unvested Performance Units/Shares will be forfeited to the Company, and again will be available for grant under the Plan. 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 Unless the Administrator purchase or disposition of the Shares. The market cap and enterprise. Subject to the terms and conditions of the Plan, the Administrator will have complete discretion in determining the number of Binding Agreement. A Tesla proposal to approve the Tesla, Inc. 2019 Employee Stock Purchase Plan ("Proposal Three"). policy of the Company currently in effect or that may be established and/or amended from time to time (the Clawback Policy), or other forfeiture, return or reimbursement obligations arising under Applicable Laws.