Tesla said Monday it is granting CEO Elon Musk about $29 billion worth of shares as an interim payment, while his existing pay package remains tied up in court.

In a letter to shareholders, Tesla chair Robyn Denholm and board member Kathleen Wilson-Thompson said the electric vehicle maker is offering 96 million shares to Musk as a “good faith” payment.

“[W]e are confident that this award will incentivize Elon to remain at Tesla and focus his unmatched leadership abilities on further creating shareholder value for Tesla shareholders and attracting and retaining talent at Tesla,” they wrote in the letter shared in a securities filing.

“To be clear, losing Elon would not only mean the loss of his talents but also the loss of a leader who is a magnet for hiring and retaining talent at Tesla

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