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Tesla says Elon Musk will only get paid when the company does well

Tesla says Elon Musk will only get paid when the company does well
[Photo: courtesy of Tesla]

The auto company said Musk will only receive compensation for his work as CEO if the company and its shareholders do well, reports Reuters. Specifically, in a statement the company said, “Elon [Musk] will receive no guaranteed compensation of any kind–no salary, no cash bonuses, and no equity that vests simply by the passage of time.” Musk’s new performance awards include a 10-year grant of stock options that vest in steps, but which only vest if company market cap and operational milestones are achieved.

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