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Tesla said CEO Elon Musk will receive no guaranteed compensation of any kind, and that he will be paid only if the company and all of its shareholders do extraordinarily well.

The compensation will be based on a combination of market capitalization and operational milestones, the company said in a statement on Tuesday.

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," Tesla said.



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Tesla's Musk Places Job Performance First - Won't Get Paid Unless Company Meets Lofty Goals

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