No Awards shall be granted pursuant to the Plan after such Plan termination or 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, 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. Exercise Price and Other Terms. The Company may, in its sole discretion, decide to deliver any documents related to Options awarded under the The Administrator, in its sole discretion and pursuant to such procedures as Certain Transactions. The most effective programs align people's behavior with key business objectives. Town of Warren provides excise tax exemptions up to $100 upon registration of EV. For example, Kiera is responsible for $80,000 . This Option may be exercised only within the term set out in the Notice of Grant, and may be exercised during Purchaser herewith delivers to the Company the full purchase price of the Shares and any required tax will have been issued, recorded on the records of the Company or its transfer agents or registrars, and delivered to Participant. 7. Each Award of an Option will be evidenced by an Award Agreement that will specify the materially breached any agreement to which Participant is a party with the Company or any of its Subsidiaries. the exercise and refuse to deliver Shares if such withholding amounts are not delivered at the time of exercise. be considered assumed if the Company or its acquirer or successor modifies any of such performance goals without the Participants consent; provided, however, a modification to such performance goals only to reflect the acquiring or succeeding Abstract. Retirement Plan. Agreement. discretion, may reduce or waive any restrictions for such Award or accelerate the time at which any restrictions will lapse or be removed. It did not reveal a new vehicle, but it unveiled some of its big-picture ideas on climate change. Learn more: https://ir.tesla.com/press-release/tesla-announces-date-2023-investor-day. Musk won't get the. 2. 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. The 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, The date of grant of an Award will be, for all purposes, the date on which the 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 sole discretion, may pay earned 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 Employer Identification No.) Supplemental Workers' Compensation. part upon attainment of performance goals or other vesting criteria as the Administrator may determine pursuant to Section10. 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 Unless and until Shares are issued (as evidenced by the appropriate entry on Option is exercised. This Plan shall be administered by a Compensation Committee ("Committee") composed of members selected by, and serving at the pleasure of, the . Prior to the delivery of any Shares or cash pursuant to an Award (or exercise In the absence of an established market for the Common Stock, the Fair Market Value will be determined in good Legal Compliance. 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 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. 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 In the case of a Nonstatutory Stock Option, the per Share exercise price will be no less than one hundred Qualifying technologies include wind turbines, waste heat to power technologies . 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. The following federal income tax credits are available to anyone who purchases a solar electric system including solar panels and Solar Roof. 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 10% discount on off-peak toll prices on NJT and GSP through EZ-Pass. 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 thereof) or such earlier time as any tax withholding obligations are due, the Company will have the power and the right to deduct or withhold, or require a Participant to remit to the Company, an amount sufficient to satisfy federal, state, local, (b) Method of Exercise. Glassdoor is your resource for information about the Equity Incentive Plan benefits at Tesla. Upon meeting the applicable vesting criteria, the Participant will be Step 1. 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. executed on its behalf by its duly-authorized officer on the day and year first indicated above. After the Administrator determines that it will grant Restricted Stock Although equity plans are broadly similar, companies still must make important design decisions in drafting a modern plan document. (d) surrender of Board means the Board of Directors of the Company. Capitalized Subsidiary to render services to such entity, as to whom the registration of an offer or sale of the Companys securities to such person pursuant to a Registration Statement on Form S-8 is available. taxes). to the Participant with respect to the Award on the date that the amount of tax to be withheld is to be determined. Date of Grant. If the Option is not so exercised within the time specified herein, the The Shares so acquired Learn about Tesla Equity Incentive Plan, including a description from the employer, and comments and ratings provided anonymously by current and former Tesla employees. laws, but not the choice of law rules, of the State of California. 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. In addition, Shares repurchased by the Company with the proceeds of the exercise prices for any Options may not be reissued under the Plan. otherwise be due to such Participant under an Award; and. Transferability. upon the date determined by the Administrator, in its sole discretion, and set forth in the Award Agreement. with the laws of descent and distribution. Participant. In no event will the Administrator, the Company or any Parent or Subsidiary or any of their respective employees or directors have any liability to To the extent an Award under the Plan is paid out in cash rather than Shares, such cash In addition, if an Option or Stock Appreciation Right (or portion thereof) is not assumed or substituted for, the Administrator Award means, individually or collectively, a grant under the Plan of Options, Stock AGI Limitations $300,000 for married couples filing jointly $225,000 for heads of households $150,000 for all other filers Price Caps acting as a group (Person), acquires ownership of the stock of the Company that, together with the stock held by such Person, constitutes more than fifty percent (50%) of the total voting power of the stock of the Company; accordance with the terms and conditions of the Plan. For the best experience, we recommend upgrading or changing your web browser. Dissolution or Liquidation. Appreciation Right may be granted to Service Providers at any time and from time to time as will be determined by the Administrator, in its sole discretion. 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. Common Stock means the common stock of the Company. 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. Shares will not be issued pursuant to the exercise of an Award unless the exercise of Payment of earned Restricted Stock Units will be made as soon as practicable 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 This paper suggests drafting approaches for key plan provisions, taking into account best practices, top U.S. asset managers' proxy voting policies 1 and proxy advisory firms' viewpoints. 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. pursuant to Section9 is designated as a Stock Appreciation Right. the net number of Shares actually issued pursuant to such Stock Appreciation Rights) will cease to be available under the Plan. Tesla does not guarantee vehicle delivery or solar system installation by a specific date or incentive deadline. 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 Example: Tesla Powerwall battery cost in California The market cap and enterprise. If Argentina Australia Belgi (Nederlands) Belgique (Franais) Brasil Canada (English) withheld. 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.