Connect with us


Tesla paid CEO Elon Musk $3 million to provide indemnity for directors and officers against legal claims – CNBC

The highly unusual arrangement had Musk offer up to $100 million from his personal funds in indemnity coverage for officers and directors for 90 days.



post featured image

Tesla paid CEO Elon Musk $3 million personally for 90 days worth of an important type of business insurance that indemnifies directors and officers of the company from certain legal expenses, a new filing revealed Wednesday. Tesla has also ended that controversial arrangement, and obtained a more traditional form of this insurance, the filing said.
In April this year, Tesla told shareholders that they would forego directors and officers liability insurance (also known as D&O) for a year. Instead,…

Click here to view the original article.

Continue Reading

You might also like ...

post featured image
Long lines at new Colorado In-N-Out spark wild pantless fight – New York Post
post featured image
Mayor Eric Garcetti On L.A.’s Spiraling Covid-19 Crisis: “At This Rate, Our Hospitals Won’t Have Any Spare Beds By Christmastime” – Deadline
post featured image
Jim Cramer worries White House transition could complicate vaccine distribution – CNBC