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Tesla paid Elon Musk almost $1 million to insure its board against lawsuits, just as shareholders are being urged to oust him over his $56 billion bonus

8 days ago   |   By

Tesla is paying CEO Elon Musk $1 million to insure its board against lawsuits for up to $100 million, SEC filings revealed on Tuesday.
Tesla announced in April Musk would be personally insuring its board because it said it couldn't find a reasonable quote from an insurance company.
Investor adviser PIRC on Tuesday separately recommended Tesla shareholders vote Musk out as CEO over his prospective $55.8 billion bonus pay package.
Musk only qualifies for the full $55.8 billion bonus if Tesla hits certain financial milestones over a decade.
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