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Exhibit 10.7
TESLA MOTORS, INC.
2010 EMPLOYEE STOCK PURCHASE PLAN
(AsAmendedandRestatedEffectiveAugust3,2011)
1. Purpose.  The purpose of the Plan is to provide employees of the Company and its Designated Subsidiaries with an opportunity to purchase
CommonStockthroughaccumulatedpayrolldeductions.TheCompany’sintentionistohavethePlanqualifyasan“employeestockpurchaseplan”underSection
423oftheCode.TheprovisionsofthePlan,accordingly,willbeconstruedsoastoextendandlimitPlanparticipationinauniformandnondiscriminatorybasis
consistentwiththerequirementsofSection423oftheCode.
2.Definitions.
(a)“Administrator”meanstheBoardoranyCommitteedesignatedbytheBoardtoadministerthePlanpursuanttoSection14.
(b)“ApplicableLaws”meanstherequirementsrelatingtothe administration ofequity-basedawardsunderU.S.state corporate laws,
U.S.federalandstatesecuritieslaws,theCode,anystockexchangeorquotationsystemonwhichtheCommonStockislistedorquotedandtheapplicablelawsof
anyforeigncountryorjurisdictionwhereAwardsare,orwillbe,grantedunderthePlan.
(c)“Board”meanstheBoardofDirectorsoftheCompany.
(d)“ChangeinControl”meanstheoccurrenceofanyofthefollowingevents:
(i)AchangeintheownershipoftheCompanywhichoccursonthedatethatanyoneperson,ormorethanonepersonacting
asagroup(“Person”),acquiresownershipofthestockoftheCompanythat,togetherwiththestockheldbysuchPerson,constitutesmorethanfiftypercent(50%)
of the total voting power of the stock of the Company; provided, however, that for purposes of this subsection, 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ChangeinControl;
or
(ii)AchangeintheeffectivecontroloftheCompanywhichoccursonthedatethatamajorityofmembersoftheBoardis
replacedduringanytwelve(12)monthperiodbyDirectorswhoseappointmentorelectionisnotendorsedbyamajorityofthemembersoftheBoardpriortothe
dateoftheappointmentorelection.Forpurposesofthisclause,ifanyPersonisconsideredtobeineffectivecontroloftheCompany,theacquisitionofadditional
controloftheCompanybythesamePersonwillnotbeconsideredaChangeinControl;or
(iii)Achangeintheownershipofasubstantialportionof the Company’s assets whichoccursonthedatethatanyPerson
acquires (or has acquired during the twelve (12) month period ending on the date of the most recent acquisition by such person or persons) assets from the
Companythathaveatotalgrossfairmarketvalueequaltoormorethanfiftypercent(50%)ofthetotalgrossfairmarketvalueofalloftheassetsoftheCompany
immediately prior to such acquisition or acquisitions; provided, however,that for purposes ofthis subsection, the following willnot constitute a change inthe
ownership of a substantial portion of the Company’s assets:(A) a transfer to an entity thatis controlled by the Company’s stockholders immediately after the
transfer,or(B)atransferofassetsbytheCompanyto:(1)astockholderoftheCompany(immediatelybeforetheassettransfer)inexchangefororwithrespectto
theCompany’sstock,(2)anentity,fiftypercent(50%)ormoreofthetotalvalueorvotingpowerofwhichisowned,directlyorindirectly,bytheCompany,(3)a
Person,thatowns,directlyorindirectly,fiftypercent(50%)ormoreofthetotalvalueorvotingpowerofalltheoutstandingstockoftheCompany,or(4)anentity,
atleastfiftypercent(50%)ofthetotalvalueorvotingpowerofwhichisowned,directlyorindirectly,byaPersondescribedinthissubsection(iii)(B)(3).For
purposesofthissubsection,grossfairmarket