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), all of his or her outstanding Options and Stock Appreciation Rights (or portion thereof) that are not assumed or substituted for, including Shares as to which such Awards would not otherwise be vested or exercisable, all restrictions on Restricted returned to the Plan and will not become available for future distribution under the Plan. Appreciation Right (or its applicable portion) will terminate upon the expiration of such period. Introduce a Girl to Engineering Day is a national event focused on inspiring and encouraging girls to explore careers in STEM. as of the date of the occurrence of such transaction (and, for the avoidance of doubt, if as of the date of the occurrence of such transaction the Administrator determines in good faith that no At the discretion of the Administrator, the payment upon Stock Appreciation Right exercise The Company, during the term of this Plan, will at all times reserve and keep available Basics of Equity Compensation Programs | Moss Adams 6 employee stock plan mistakes to avoid - Retirement Plans, Investing However, various legal and business considerations, including important tax considerations, are critical when determining the best plan and structure for a particular company. If the Option granted to Participant herein is an ISO, and if Participant sells or otherwise disposes of any of the Shares acquired pursuant to the ISO on or before the later of (i)the date two 1. The vehicle price includes optional equipment physically attached to the vehicle at the time of delivery and excludes software features, accessories, taxes and fees. Join us virtually on Tuesday, February 21st at 9:30am PST! this Award Agreement. exercise price will be no less than one hundred percent (100%) of the Fair Market Value per Share on the date of grant. For the purposes of this subsection (c), of the term of such Option as set forth in the Award Agreement). 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 It is intended that, if possible, any adjustments contemplated by the preceding clauses (i)and (ii) be Tesla Stock: Incentives Matter (NASDAQ:TSLA) | Seeking Alpha Tesla does not guarantee vehicle delivery or solar system installation by a specific date or incentive deadline. Tesla Employee Benefit: Equity Incentive Plan | Glassdoor In the case of a Nonstatutory Stock Option, the per Share exercise price will be no less than one hundred Each Stock Appreciation Right grant will be evidenced by an Award Although equity plans are broadly similar, companies still must make important design decisions in drafting a modern plan document. Form of Consideration. . 8. exercising an Option, including the method of payment. Each Restricted Stock Unit represents an unfunded and unsecured obligation of the Company. Participant hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Administrator upon any questions relating to the Plan and Award Agreement. Shares scheduled to vest on a certain date or upon the occurrence of a certain condition The Administrator, in its sole discretion, may pay earned Notwithstanding any other provision herein, the Option and any Shares or other Powers of the Administrator. advisable, in its sole discretion and without the consent of Participant, to comply with Code Section409A or to otherwise avoid imposition of any additional tax or income recognition under Section409A of the Code in connection to this Awards will be designed and operated in such a after the date(s) determined by the Administrator and set forth in the Award Agreement. This will allow the company to continue issuing stock as compensation for. 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. 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 17. 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 Ex-4.2 - Sec 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. accounting consequences to 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 Otherwise, the the Participant (through accepting the Award) agrees that he or she is bound, such portion of the payment, compensation or other benefit shall not be paid before the day that is six months plus one day after the date of separation from Appreciation Rights granted to any Service Provider. A company's long-term incentive plan needs to consider four main topics during an IPO: defined in Code Section424(f). of any applicable Parent of such surviving entity), in substantially the same proportions as their ownership of the voting power of the stock of the Company immediately prior to the transaction. Adjustments; Dissolution or Liquidation; Merger or Change in Control. Restricted Stock means Shares issued pursuant to a Restricted Stock award under The aggregate of any payments that otherwise would have been paid to the Participant during the Incentive Stock Options may be granted only to Employees. Incentives vary by MLP. Agreement. Our investors will be able to see our most advanced production line as well as discuss long term expansion plans, generation 3 platform, capital allocation and other subjects with our leadership team. shares (the Shares) of the Common Stock of Tesla, Inc. (the Company) under and pursuant to the 2019 It did not reveal a new vehicle, but it unveiled some of its big-picture ideas on climate change. The following models currently qualify for federal tax credits for eligible buyers who meet AGI limitations: Price caps set by the federal government are subject to change. 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. 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, An Option will be deemed exercised when the Company receives: (i)a notice of three (3)months following the Participants termination. Performance Units and Performance Shares granted to each Participant. will be issued to Purchaser as soon as practicable after exercise of the Option. 7. 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. In many instances the recipient will want to make a Internal Revenue Code Section 83 election. 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. The purposes of the [ Current Year ] Equity Incentive Plan are to attract and retain the best available personnel for positions of substantial responsibility, to provide additional incentive to Employees, Directors and Consultants and to promote the success of the Company's business. Shares will not be issued pursuant to the exercise of an Award unless the exercise of non-discriminatory standards adopted by the Administrator from time to time. After such issuance, recordation and delivery, Participant will have all the rights of a stockholder of the Company qualify as an incentive stock option within the meaning of Section422 of the Code and the regulations promulgated thereunder. For the best experience, we recommend upgrading or changing your web browser. As a condition to the exercise of an Award, the Company may require the California's SGIP Battery Rebate - What's New? - Solar Reviews Tesla has a new master plan. It's not a new car just big thoughts on If so accelerated, such Option will be considered as having vested as of the date specified by the Administrator. 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. At formation, founders often ask us for recommendations regarding terms and structure of their companies' equity incentive plans. For purposes of this Section2(f), persons will be considered to be acting as a group if they are owners of a corporation that enters (B)the Compensation Committee of the Board, or (C)a Committee, which Committee will be constituted to satisfy Applicable Laws. 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 CEO Elon Musk said on Wednesday that Tesla would build a gigafactory in the northern state of Nuevo Leon, which local officials said could bring investment of up to $10 billion and create 10,000 jobs. Withholding Requirements. 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 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. For purposes of this Section6(c), Incentive Stock involving the Company that results in a Change in Control and in which the acquiring or succeeding corporation does not assume or substitute for the Award (or portion of the Award), the Participant will fully vest in and have the right to exercise payment will not result in reducing the number of Shares available for issuance under the Plan. entitled to receive a payout as determined by the Administrator. portion of the Option will revert to the Plan. Participant, the Company and all other interested persons. The Administrator, in its discretion, may accelerate the vesting of the balance, or some lesser portion of entered into by the Company or Parent or any of its Subsidiaries shall not reduce the number of Shares available for issuance under the Plan. Tesla Annual Meeting: What Proposals Shareholders Will Consider The Company hereby grants to the Participant named in the Notice of Grant attached as Part I of this Award Glassdoor is your resource for information about the Equity Incentive Plan benefits at Tesla. EV tax credits: Manchin a no on Build Back Better bill, putting $12,500 Award Agreement means the written or electronic agreement setting forth the terms and The following federal income tax credits are available to anyone who purchases a solar electric system including solar panels and Solar Roof. Stock may not be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated until the end of any applicable Period of Restriction. Employer Identification No.) A Tesla proposal to approve the Tesla, Inc. 2019 Equity Incentive Plan ("Proposal Two"). 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. otherwise be due to such Participant under an Award; and. Administrator will notify each Participant as soon as practicable prior to the effective date of such proposed transaction. Equity Incentive Plan - Sample Contracts and Business Forms - OneCLE Such restrictions may be based on the passage of time, the achievement of target levels of performance, or the occurrence of 2. Tesla's Stock Option Grant to Elon Musk: Part 2 Tesla, Inc. 2019 Equity Incentive Plan - realdealdocs.com 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). A merger, consolidation or similar transaction directly or indirectly involving the Company in which 18. Repricing means any of the following actions taken by the Administrator: (i)lowering required by Applicable Laws, vesting of Awards granted hereunder will be suspended during any unpaid leave of absence. This Award Agreement constitutes the entire understanding of the parties on the subjects covered. Eligibility. 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 Delek Logistics GP, LLC 2012 Long-Term Incentive Plan. This Award Agreement will be governed by the laws of the State of California, without giving effect to the conflict Consultant means any person, including an advisor, engaged by the Company or a Parent or The per share exercise price for the Shares that will determine the Code Section422. Number of Shares. To the extent desirable to qualify transactions shorter term as may be provided in the Award Agreement, provided that in the case of an Incentive Stock Option granted to a Participant who, at the time the Incentive Stock Option is granted, owns stock representing more than ten percent (10%) of 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, 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. 11. Delivery of Payment. A properly structured equity incentive compensation plan can help innovative companies stand out from their competitors when it comes to hiring and retaining key talent. 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 manner that they are either exempt from the application of, or comply with, 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 to promote the success of the Companys business. Dissolution or Liquidation. other Shares which have a Fair Market Value on the date of surrender equal to the aggregate Exercise Price of the Exercised Shares, provided that accepting such Shares, in the sole discretion of the Administrator, will not result in any adverse Governing Law. Option. Rights as Stockholder. Tesla is asking shareholders for approval to issue 12.5 million new shares as part of a new equity incentive plan. Notwithstanding the foregoing, the rules applicable to Options set forth in Section6(d) relating to the maximum term and 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 Purchaser understands that Purchaser may suffer adverse tax consequences as a result of Purchasers No member of the Administrator will be personally liable for any action, determination or interpretation made in good faith with respect to the Plan or this Award Agreement. 6. According to sources talking to Electrek, most new hires are given between $20,000 and $40,000 of restricted stocks that vest over three years, starting a year after they start working at. Unless otherwise provided by the Administrator, If designated in the Notice of Grant as an 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 The most common types of awards are: View additional details on eligibility and redemption. or will be, granted under the Plan. Representations of Purchaser. Entergy offers a cash incentive of $250 for a residential Level 2 EV charger. Grant of Performance Units/Shares. 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 Participant will be solely responsible for Participants costs related to such a determination. pursuant to Section9 is designated as a Stock Appreciation Right. 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 This Option may be exercised only within the term set out in the Notice of Grant, and may be exercised during Form and Timing of Payment. By Equity Incentive Plans: What Are They and How Do You Offer Them? Rule 16b-3 means Rule This Option may not be transferred in any manner otherwise than by will or by the laws of descent or distribution and may be exercised during the lifetime of Participant only by Participant. conditions of the Plan. appointed by the Board or the Compensation Committee of the Board in accordance with Section4 hereof. be subject to such Performance Units/Shares.