Tesla's Texas Plan B if Delaware won’t reinstate Elon Musk's pay. It's not about the money, says Elon.

Tesla is exploring alternative ways to pay CEO Elon Musk in a new deal.

Tesla 's compensation has been hung up in court for seven years and is now pending Musk and Tesla 's appeal.

Tesla dissolved its incorporation in Delaware and reincorporated in Texas in an objection to the Chancery Court's controversial decision.

University of California, Berkeley law professor, Stavros Gadinis , believes that what Tesla 's board does next will test the defining features of where corporate law is headed.

A replacement deal could include promises from Tesla to invest in or make loans to outside enterprises, Gadinis said.

Gadinis says it's unlikely that a purely performance-based award would get Musk back to the same compensation level.

An in-the-money pay plan could grant Musk the right to options at the same price per share awarded in his original deal.

A new Texas law, SB29, went into effect last week , would make it more difficult for a shareholder dispute like the one against Tesla to go forward in Texas .

The law offers personal liability protection to officers and directors who make "good faith" decisions on behalf of the companies they serve.

Texas hopes the move helps it attract more businesses.