Document:

Relocation Agreement - Deepak Ahuja

 Exhibit 10.11 
 TESLA MOTORS, INC. 
 RELOCATION AGREEMENT

 This Relocation Agreement (“Agreement”) is entered into as of October 31, 2008
(“Effective Date”), by Deepak Ahuja and Tesla Motors, Inc. 
 PURPOSE 
 On June 14, 2008, Ahuja entered into at-will employment with Tesla pursuant to an offer letter dated June 13, 2008
(the “Offer Letter”) for employment commencing July 31, 2008 (the “Employment Commencement Date”). Tesla requires Ahuja to relocate from his current residence to Tesla headquarters offices in San Carlos, California
(“Primary Work Location”), to perform the duties customarily associated with his position as Chief Financial Officer. Ahuja’s Primary Work Location will be a location that is at least 50 miles from his current residence. 

The Parties agree that this Agreement supersedes the Offer Letter with respect to the relocation benefits provided in the
Offer Letter to bring the relocation benefits into compliance with Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) and the final regulations and other guidance promulgated thereunder (collectively
“Section 409A”). 
 The Parties agree as follows: 
 AGREEMENT 
 1. Rental Payments. Tesla will reimburse Abuja for rental payments up to $5,000 per month for a residence for Ahuja and Ahuja’s family for a period not to exceed one (1) year from the
Employment Commencement Date. Subject to the foregoing, Tesla agrees to reimburse Ahuja for the amount stipulated in Ahuja’s lease, which has been provided to Tesla, split equally between the two paychecks in the month for the month in which
Ahuja makes his monthly rental payment, in accordance with its normal payroll procedures. Tesla will “gross up” Ahuja monthly rental reimbursements, such that Ahuja receives the amount stipulated in the lease on an after-tax basis.

 2. Costs for Sale of Current Residence. Tesla will reimburse Ahuja for any sales commissions and
closing costs associated with the sale of his current residence in Michigan, not in excess of $70,000 (“Sale Costs”), provided however, that in the event Ahuja voluntarily terminates his employment with Teals at any time within 18 months
of commencement of employment, then he will repay the Sale Costs to Tesla. Ahuja will submit a written reimbursement request and all supporting invoices and documentation within 30 days of incurring such Sale Costs. Provided all conditions for
reimbursement have been met, Tesla will reimburse Ahuja for the Sale Costs on the first payroll date in calendar year 2009. 

 3. Moving Costs. Tesla will reimburse Ahuja for the reasonable costs
of transporting Ahuja’s household goods and personal effects and up to two cars, including packing and unpacking of all goods and insurance for the full value while in transit (“Moving Costs”), provided that Ahuja obtains at least
three (3) estimates for moving services and consults with Tesla before selecting a company to provide such services. Tesla will reimburse Ahuja within a reasonable time after receiving his written reimbursement request and all supporting
invoices and documentation; provided however, that to the extent such supporting invoices and documentation; provided however, that to the extent such reimbursements are taxable to Ahuja under the Code, Tesla will reimburse Ahuja for his moving
costs on or before December 31, 2008. 
 4. Code Section 409A. The Parties agree to work
together in good faith to consider either (i) amendments to the Agreement; or (ii) revisions to the Agreement with respect to the reimbursement payments to be provided hereunder, which are necessary or appropriate to avoid imposition of
any additional tax or income recognition under Section 409A prior to the actual payment to Ahuja. It is intended that the reimbursements under this Agreement comply with Section 409A. In no event will Tesla reimburse Ahuja for any taxes
that may be imposed on him as a result of Section 409A. 
 5. Entire Agreement. This Agreement
constitutes the entire agreement of the Parties and supersedes in its entirety all prior representations, understandings, undertakings or agreements (whether oral or written and whether expressed or implied) of the Parties with respect to the
subject matter hereof, including, without limitation, the Offer Letter. The invalidity or unenforceability of any provision or provisions of this Agreement will not affect the validity or enforceability of any other provision hereof, which will
remain in full force and effect. 
 6. Waiver. No provision of this Agreement will be modified, waived or
discharged unless the modification, waiver or discharge is agreed to in writing and signed by Ahuja and by an authorized officer of Tesla (other than Ahuja). 
 7. Choice of Law. This Agreement will be governed by the laws of the State of California (with the exception of its conflict of laws provisions). 
 8. Withholding. Tesla will withhold applicable income and employment taxes on any payment made pursuant to this
Agreement to the extent Tesla has an obligation to withhold on such payment. 
 The Parties have executed this
Agreement on the respective dates set forth below. 
  

							
	 TESLA MOTORS, INC.
	 		 	 Deepak Ahuja

				
	 By:
	 	 /s/ Elon Musk
	 		 	 /s/ Deepak Ahuja

				
	 Title:
	 	 CEO
	 		 	
				
	 Date:
	 	 Nov 7, 2008
	 		 	 Date: Nov 12, 2008

  

 -2- 

 June 4, 2009 
 Deepak Ahuja 
 Re: Amendment to Relocation
Agreement 
 Dear Deepak: 
 Pursuant to our discussion, this letter specifies changes that Tesla Motors will make to the Relocation Agreement dated October 31, 2008. 
 The first sentence of section One of the agreement concerning rental payments, will be changed to read as follows:

 “Tesla will reimburse Ahuja for rental payments up to $5,000 per month for a residence for Ahuja and
Ahuja’s family through December 31, 2009.” 
 All other terms shall remain in effect. 

 

							
		 		 		 	 Very truly yours,

				
		 		 		 	 Tesla Motors, Inc.

				
		 		 		 	 /s/ Craig W. Harding

		 		 		 	 Craig W. Harding

		 		 		 	 General Counsel and Secretary

	 cc: Zack Smoll
	 		 	
			
	 /s/ Deepak Ahuja
	 		 	
	 Deepak Ahuja
	 		 	
			
	 Date: 6/4/09Offer Letter - Jeffrey B. Straubel

 Exhibit 10.12 
 Tesla Motors Inc. 
 845 Oak Grove Ave., Suite #204 

Menlo Park, CA 94025 
 May 6, 2004 
 JB Straubel 
  

	 	 RE:
	 OFFER OF EMPLOYMENT WITH TESLA MOTORS,
INC. 

 Dear JB, 
 Tesla Motors, Inc., a Delaware corporation (the “Company”), is pleased to offer you the position of Principal
Engineer, Drive Systems on the terms set forth below. 
 In this role, you will perform the duties customarily
associated with this position, including specifically responsibility for the Power Electronics Unit and motor in the Tesla Roadster, and you will report to Ian Wright. 
 Your salary will be ninety five thousand dollars ($95,000) per year for a forty (40) hour work week, subject to standard payroll deductions and withholdings. As an exempt
employee, you will not be entitled to overtime. You will be eligible for vacation and sick leave according to the Company’s standard policy. You will also be eligible to receive all other benefits the Company may provide to its employees (e.g.,
health, vision and dental insurance coverage) after your enrollment in August, 2004. The Company may consider you for bonuses, although the amount of such bonuses, if any, and the criteria for determining the award of such bonuses, if any, shall be
in the sole discretion of the Company. Of course, the Company reserves the right to modify your compensation and benefits from time to time, as it deems necessary. 
 Subject to the approval of the Company’s Board of Directors, you will be granted a stock option to purchase an aggregate of 150,000 shares of the Company’s Common Stock
pursuant to the Company’s Equity Incentive Plan then in effect. Your stock options will vest in accordance with the Tesla Motors Equity Incentive Plan of 2003 commencing upon your first day of employment. 
 By accepting this offer, you represent and warrant that your employment with the Company will not violate any agreements,
obligations or understandings that you may have with any third party or prior employer. You further represent and warrant that you have read, understand, and accept the terms of your Stock Option Agreement, in particular, the vesting schedule of the
shares of the Company’s Common Stock thereof. You agree not to make any unauthorized disclosure to the Company or use on behalf of the Company any confidential information belonging to any of your former employers (except in accordance with
agreements between the Company and any such former employer). You also warrant that you do not possess any property containing a third party’s confidential and proprietary information. Of course, during your employment with the Company, you may
make use of information generally known and used by persons with training and experience comparable to your own, and information which is common knowledge in the industry or is otherwise legally available in the public domain. 

 JB Straubel 
 Page 2 
 As a Company employee, you will be expected to abide by
all Company policies and procedures, and sign and comply with the Company’s standard confidentiality agreement which prohibits unauthorized use or disclosure of Company confidential information or the confidential information of the
Company’s clients. 
 You may terminate your employment with the Company at any time and for any reason
whatsoever simply by notifying the Company. Likewise, the Company may terminate your employment at any time and for any reason whatsoever, with or without cause or advance notice. This at-will employment relationship cannot be changed except by a
writing authorized on behalf of an officer of the Company. 
 To ensure the rapid and economical resolution of
disputes that may arise in connection with your employment with the Company, you and the Company agree that any and all disputes, claims, or causes of action, in law or equity, arising from or relating to your employment, or the termination of your
employment, will be resolved, to the fullest extent permitted by law, by final, binding and confidential arbitration in San Francisco, California conducted by the Judicial Arbitration and Mediation Services/Endispute, Inc. (“JAMS”), or its
successors, under the then current rules of JAMS for employment disputes; provided that the arbitrator shall: (a) have the authority to compel adequate discovery for the resolution of the dispute and to award such relief as would otherwise be
permitted by law; and (b) issue a written arbitration decision including the arbitrator’s essential findings and conclusions and a statement of the award. Both you and the Company shall be entitled to all rights and remedies that you or
the Company would be entitled to pursue in a court of law. The Company shall pay all fees in excess of those which would be required if the dispute was decided in a court of law. Nothing in this Agreement is intended to prevent either you or the
Company from obtaining injunctive relief in court to prevent irreparable harm pending the conclusion of any such arbitration. Notwithstanding the foregoing, you and the Company each have the right to resolve any issue or dispute arising under the
Proprietary Information and Inventions Agreement by Court action instead of arbitration. 
 This letter
agreement constitutes the complete, final and exclusive embodiment of the entire agreement between you and the Company with respect to the terms and conditions of your employment, and it supersedes any other agreements or promises made to you by
anyone, whether oral or written. This Agreement cannot be changed, amended, or modified except in a written agreement signed by an officer of the Company. This letter agreement shall be construed and interpreted in accordance with the laws of the
State of California. 
 As required by immigration law, this offer of employment is subject to satisfactory
proof of your right to work in the United States. 

 JB Straubel 
 Page 3 
 If you choose to accept our offer under the terms
described above, please indicate your acceptance, by signing below and returning it to me. The effective date of your employment will be May 17, 2004. 
 We look forward to your favorable reply and to a productive and enjoyable work relationship. 
  

	
	 Very truly yours,
 TESLA MOTORS, INC.

	
	 /s/ Ian Wright

	 Ian Wright
 Vice President, Vehicle Development

  

			
		
	 Accepted by:
	 	 /s/ JB Straubel

		 	 Name:

 Date: 05/07/04

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