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Tesla Defends Aggressive Pay Plan For Musk In Chancery Suit

Law360 (September 10, 2018, 9:30 PM EDT) -- The directors of electric car maker Tesla Inc. defended the compensation package for company founder and CEO Elon Musk in a motion to dismiss a proposed shareholder class action suit in Delaware Chancery Court, saying Friday the plan would only award Musk if the company hit “audacious” growth benchmarks.

Tesla’s board said that the 2018 compensation plan included no guaranteed payments to Musk in the form of salary, cash bonuses or equity awards, but instead based his compensation on the performance of the company in terms of...
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