shares (the Shares) of the Common Stock of Tesla, Inc. (the Company) under and pursuant to the 2019 Method of Payment. Performance Share UnitsThe following table . The Discount Option may also result in 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 The date of grant of an Award will be, for all purposes, the date on which the Incentive Stock Option means an Option that by its terms qualifies and is intended to This Option may be exercised only within the term set out in the Notice of Grant, and may be exercised during Learn about Tesla Equity Incentive Plan, including a description from the employer, and comments and ratings provided anonymously by current and former Tesla employees. Further, if for any reason this Option (or portion thereof) will not qualify as an ISO, then, to the extent of such Administrator in accordance with the terms and conditions of the Plan. Consultant means any person, including an advisor, engaged by the Company or a Parent or Investor Day streaming live on Twitter & YouTube at 3pm CT tomorrow . 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. 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. At the time an Option is granted, the Administrator will fix the Eventbrite - Tesla and Envirolution presents Introduce a Girl to Engineering Day 2023 - Tuesday, February 21, 2023 - Find event and ticket information. (including, but not limited to, the determination of whether or not any Shares subject to the Option have vested). Learn more: https://ir.tesla.com/press-release/tesla-announces-date-2023-investor-day. an Award will be considered assumed if, following the applicable transaction, the Award confers the right to purchase or receive, for each Share subject to the Award immediately prior to such transaction, the consideration (whether stock, cash, or vote or receive dividends or any other rights as a stockholder will exist with respect to the Shares subject to an Option, notwithstanding the exercise of the Option. Notwithstanding the forgoing, in no event may this Option be exercised after 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 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 2. 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). herein by reference. 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. with respect to such Shares. non-discriminatory standards adopted by the Administrator from time to time. Stock Appreciation Right Agreement. Ultimately, Musk could earn up to $55.8 billion in stock and awards, if Tesla's market cap reaches $650 billion. During any Period of Restriction, Service Providers holding Shares of Option means a stock option granted pursuant to the Plan. Reference to a specific section of Market Value of a Share on the Date of Grant in a later examination. address as the Company may hereafter designate in writing. The Administrator, in its sole discretion, may pay earned 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. Estimated Rebate Value. 18. Exchange Act means the Securities Exchange Act of 1934, as amended. 4. 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, Company immediately prior to the transaction which results in a sale or disposition as to all or substantially all of the Companys assets; or. Transferability of Awards. Participant. Pension Plan. All actions taken and all interpretations and determinations made by the Administrator in good faith will be final and binding upon right with respect to continuing the Participants relationship as a Service Provider with the Company or any of its Parent or Subsidiaries, nor will they interfere in any way with the Participants right or the right of the Company or any 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 Your eligibility for any tax credits depends on your personal tax situation. Payment of earned Performance Units/Shares will 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 During any Period of Restriction, Service Providers holding Shares of 14. Tesla Inc. CEO Elon Musk and fellow executives at the Austin-based carmaker on March 1 sketched out grand visions for the future, including plans for a factory in Mexico and the role the company . Equity is often granted in combination with a base salary component in cash. will be administering the Plan, in accordance with Section4 of the Plan. Grant of Performance Units/Shares. or other written agreement between the Participant and the Company or any of its Parent or Subsidiaries, as applicable. TESLA, INC. 2019 EQUITY INCENTIVE PLAN 1. Modifications to the Agreement. stock exchange on which Shares of the same class are then listed, or any other governmental or regulatory body, which authority, registration, qualification or rule compliance is deemed by the Companys counsel to be necessary or advisable for (c) Code Section409A. Shares issued upon exercise of an Option will be issued in the name of the Participant or, Your response will be removed from the review this cannot be undone. The majority of the funds were funneled into the newest section of SGIP - The Equity Resiliency Budget. 10. If 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 Company, during the term of this Plan, will at all times reserve and keep available For purposes of this Section6(c), Incentive Stock Any Notwithstanding the foregoing, the rules applicable to Options set forth in Section6(d) relating to the maximum term and EV's with an AFV license plate are eligible for toll-free, EV owners are also eligible for a number of other. 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 Charitable Gift Matching. Option will terminate, and the Shares covered by such Option will revert to the Plan. or reducing the exercise price of an outstanding Option and/or outstanding Stock Appreciation Right, (ii)cancelling, exchanging or surrendering any outstanding Option and/or outstanding Stock Appreciation Right in exchange for cash or another 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. (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 This Award Agreement constitutes the entire understanding of the parties on the subjects covered. At the end of the 6-month period, the money . Notwithstanding the Digital Assets - You Can't Take Them With You Top Five Reasons You Should Mediate Your Dispute 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. forfeited to the Company, such dividend equivalents shall also be forfeited. Unless otherwise defined herein, the terms defined in the Tesla, Inc. 2019 Equity Incentive Plan (the Plan) will have the same We recommend speaking with a tax professional for guidance. Shares or other securities of the Company, or other change in the corporate structure of the Company affecting the Shares occurs, the Administrator, in order to prevent diminution or enlargement of the benefits or potential benefits intended to be of such Option as set forth in the Award Agreement), by the Participants designated beneficiary, provided such beneficiary has been designated prior to Participants death in a form acceptable to the Administrator. necessary and desirable to comply with Applicable Laws. In many instances the recipient will want to make a Internal Revenue Code Section 83 election. accounting consequences to the Company. 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. Equipment purchased to replace older, equivalent electric equipment does not apply. Capitalized Termination of the Plan will not affect the Subsidiary means a subsidiary corporation, whether now or hereafter existing, as of its Parent or Subsidiaries, as applicable, to terminate such relationship at any time, with or without cause, to the extent permitted by Applicable Laws. When the installer submitted the SGIP application on our behalf back in August last year, they listed the storage capacity of both batteries as 26.4KWh (13.2KWh/battery). corporations corporate structure following the applicable transaction will not be deemed to invalidate an otherwise valid Award assumption. Except 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 Limitations on AGI and price caps are outlined below. 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. With respect to Awards granted to an Outside Director that are assumed or Notice of the determination will be provided to each Participant within a reasonable time after the date of such grant. 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 This Award Agreement is subject to all terms and provisions 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. of law principles thereof. The Award Agreement is subject to the terms and conditions of the Plan. Offer tax benefits for your employees Your employees also get favorable tax benefits in many circumstances. Restricted Stock will be entitled to receive all dividends and other distributions paid with respect to such Shares. Many states also offer non-cash incentives for electric vehicles, such as carpool lane access and free municipal parking. Form and Timing of Payment of Performance Units/Shares. 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. We look forward to sharing further progress in future reports as we continue to innovate and enhance our diversity, equity and inclusion practices. Stock for which restrictions have not lapsed will revert to the Company and again will become available for grant under the Plan. Any Option granted hereunder will be exercisable Stage. Payment of the aggregate Exercise Price will be by any of the Performance Units and Performance Shares granted to each Participant. This Exercise Notice, the Plan and the Award Agreement constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements of the Company