diff --git a/Makefile b/Makefile
index 1f0d4db27c2c..7ad86fb8f5d3 100644
--- a/Makefile
+++ b/Makefile
@@ -63,6 +63,11 @@ codegen: ## Generate code. Must be run if changes are made to ./pkg/apis/...
 	# CRDs don't currently jive with VolatileTime, which has an Any type.
 	perl -pi -e 's/Any/string/g' charts/karpenter/templates/provisioning.karpenter.sh_provisioners.yaml
 	hack/boilerplate.sh
+	gen-crd-api-reference-docs \
+		-api-dir ./pkg/apis/provisioning/v1alpha2 \
+		-config $(shell go env GOMODCACHE)/github.com/ahmetb/gen-crd-api-reference-docs@v0.2.0/example-config.json \
+		-out-file docs/README.md \
+		-template-dir $(shell go env GOMODCACHE)/github.com/ahmetb/gen-crd-api-reference-docs@v0.2.0/template
 
 publish: ## Generate release manifests and publish a versioned container image.
 	@aws ecr-public get-login-password --region us-east-1 | docker login --username AWS --password-stdin $(RELEASE_REPO)
@@ -73,14 +78,7 @@ publish: ## Generate release manifests and publish a versioned container image.
 helm:  ## Generate Helm Chart
 	cd charts;helm lint karpenter;helm package karpenter;helm repo index .
 
-docs: ## Generate Docs
-	gen-crd-api-reference-docs \
-		-api-dir ./pkg/apis/provisioning/v1alpha1 \
-		-config $(shell go env GOMODCACHE)/github.com/ahmetb/gen-crd-api-reference-docs@v0.2.0/example-config.json \
-		-out-file docs/README.md \
-		-template-dir $(shell go env GOMODCACHE)/github.com/ahmetb/gen-crd-api-reference-docs@v0.2.0/template
-
 toolchain: ## Install developer toolchain
 	./hack/toolchain.sh
 
-.PHONY: help dev ci release test battletest verify codegen apply delete publish helm docs toolchain licenses
+.PHONY: help dev ci release test battletest verify codegen apply delete publish helm toolchain licenses
diff --git a/charts/karpenter/templates/provisioning.karpenter.sh_provisioners.yaml b/charts/karpenter/templates/provisioning.karpenter.sh_provisioners.yaml
index 81283e158bca..cbab8c638aa2 100644
--- a/charts/karpenter/templates/provisioning.karpenter.sh_provisioners.yaml
+++ b/charts/karpenter/templates/provisioning.karpenter.sh_provisioners.yaml
@@ -16,7 +16,7 @@ spec:
     singular: provisioner
   scope: Namespaced
   versions:
-  - name: v1alpha1
+  - name: v1alpha2
     schema:
       openAPIV3Schema:
         description: Provisioner is the Schema for the Provisioners API
@@ -36,7 +36,7 @@ spec:
                 description: Architecture constrains the underlying node architecture
                 type: string
               cluster:
-                description: ClusterSpec configures the cluster that the provisioner operates against. If not specified, it will default to using the controller's kube-config.
+                description: Cluster that launched nodes connect to.
                 properties:
                   caBundle:
                     description: CABundle is required for nodes to verify API Server certificates.
@@ -88,9 +88,13 @@ spec:
                   - key
                   type: object
                 type: array
-              ttlSeconds:
-                description: TTLSeconds determines how long to wait before attempting to terminate a node.
-                format: int32
+              ttlSecondsAfterEmpty:
+                description: "TTLSecondsAfterEmpty is the number of seconds the controller will wait before attempting to terminate a node, measured from when the node is detected to be empty. A Node is considered to be empty when it does not have pods scheduled to it, excluding daemonsets. \n Termination due to underutilization is disabled if this field is not set."
+                format: int64
+                type: integer
+              ttlSecondsUntilExpired:
+                description: "TTLSecondsUntilExpired is the number of seconds the controller will wait before terminating a node, measured from when the node is created. This is useful to implement features like eventually consistent node upgrade, memory leak protection, and disruption testing. \n Termination due to expiration is disabled if this field is not set."
+                format: int64
                 type: integer
               zones:
                 description: Zones constrains where nodes will be launched by the Provisioner. If unspecified, defaults to all zones in the region. Cannot be specified if label "topology.kubernetes.io/zone" is specified.
diff --git a/charts/karpenter/templates/webhook/webhooks.yaml b/charts/karpenter/templates/webhook/webhooks.yaml
index 94ee336e5796..84df3981474a 100644
--- a/charts/karpenter/templates/webhook/webhooks.yaml
+++ b/charts/karpenter/templates/webhook/webhooks.yaml
@@ -15,7 +15,7 @@ webhooks:
   - apiGroups:
     - provisioning.karpenter.sh
     apiVersions:
-    - v1alpha1
+    - v1alpha2
     resources:
     - provisioners
       provisioners/status
@@ -42,7 +42,7 @@ webhooks:
   - apiGroups:
     - provisioning.karpenter.sh
     apiVersions:
-    - v1alpha1
+    - v1alpha2
     resources:
     - provisioners
       provisioners/status
diff --git a/cmd/controller/main.go b/cmd/controller/main.go
index 96dd77e8be4a..94e3ad1bc7f2 100644
--- a/cmd/controller/main.go
+++ b/cmd/controller/main.go
@@ -22,9 +22,9 @@ import (
 	"github.com/awslabs/karpenter/pkg/cloudprovider"
 	"github.com/awslabs/karpenter/pkg/cloudprovider/registry"
 	"github.com/awslabs/karpenter/pkg/controllers"
-	"github.com/awslabs/karpenter/pkg/controllers/provisioning/v1alpha1/allocation"
-	"github.com/awslabs/karpenter/pkg/controllers/provisioning/v1alpha1/reallocation"
-	termination "github.com/awslabs/karpenter/pkg/controllers/terminating/v1alpha1"
+	"github.com/awslabs/karpenter/pkg/controllers/allocation"
+	"github.com/awslabs/karpenter/pkg/controllers/reallocation"
+	"github.com/awslabs/karpenter/pkg/controllers/termination"
 	"github.com/awslabs/karpenter/pkg/utils/log"
 
 	"go.uber.org/zap/zapcore"
diff --git a/docs/README.md b/docs/README.md
index e9b767e0be55..d206353c34c2 100644
--- a/docs/README.md
+++ b/docs/README.md
@@ -1,23 +1,23 @@
 <p>Packages:</p>
 <ul>
 <li>
-<a href="#provisioning.karpenter.sh%2fv1alpha1">provisioning.karpenter.sh/v1alpha1</a>
+<a href="#provisioning.karpenter.sh%2fv1alpha2">provisioning.karpenter.sh/v1alpha2</a>
 </li>
 </ul>
-<h2 id="provisioning.karpenter.sh/v1alpha1">provisioning.karpenter.sh/v1alpha1</h2>
+<h2 id="provisioning.karpenter.sh/v1alpha2">provisioning.karpenter.sh/v1alpha2</h2>
 <p>
-<p>Package v1alpha1 contains API Schema definitions for the v1alpha1 API group</p>
+<p>Package v1alpha2 contains API Schema definitions for the v1alpha2 API group</p>
 </p>
 Resource Types:
 <ul></ul>
-<h3 id="provisioning.karpenter.sh/v1alpha1.ClusterSpec">ClusterSpec
+<h3 id="provisioning.karpenter.sh/v1alpha2.Cluster">Cluster
 </h3>
 <p>
 (<em>Appears on:</em>
-<a href="#provisioning.karpenter.sh/v1alpha1.ProvisionerSpec">ProvisionerSpec</a>)
+<a href="#provisioning.karpenter.sh/v1alpha2.ProvisionerSpec">ProvisionerSpec</a>)
 </p>
 <p>
-<p>ClusterSpec configures the cluster that the provisioner operates against. If
+<p>Cluster configures the cluster that the provisioner operates against. If
 not specified, it will default to using the controller&rsquo;s kube-config.</p>
 </p>
 <table>
@@ -63,11 +63,11 @@ string
 </tr>
 </tbody>
 </table>
-<h3 id="provisioning.karpenter.sh/v1alpha1.Constraints">Constraints
+<h3 id="provisioning.karpenter.sh/v1alpha2.Constraints">Constraints
 </h3>
 <p>
 (<em>Appears on:</em>
-<a href="#provisioning.karpenter.sh/v1alpha1.ProvisionerSpec">ProvisionerSpec</a>)
+<a href="#provisioning.karpenter.sh/v1alpha2.ProvisionerSpec">ProvisionerSpec</a>)
 </p>
 <p>
 <p>Constraints are applied to all nodes created by the provisioner. They can be
@@ -165,7 +165,7 @@ string
 </tr>
 </tbody>
 </table>
-<h3 id="provisioning.karpenter.sh/v1alpha1.Provisioner">Provisioner
+<h3 id="provisioning.karpenter.sh/v1alpha2.Provisioner">Provisioner
 </h3>
 <p>
 <p>Provisioner is the Schema for the Provisioners API</p>
@@ -196,7 +196,7 @@ Refer to the Kubernetes API documentation for the fields of the
 <td>
 <code>spec</code></br>
 <em>
-<a href="#provisioning.karpenter.sh/v1alpha1.ProvisionerSpec">
+<a href="#provisioning.karpenter.sh/v1alpha2.ProvisionerSpec">
 ProvisionerSpec
 </a>
 </em>
@@ -209,20 +209,21 @@ ProvisionerSpec
 <td>
 <code>cluster</code></br>
 <em>
-<a href="#provisioning.karpenter.sh/v1alpha1.ClusterSpec">
-ClusterSpec
+<a href="#provisioning.karpenter.sh/v1alpha2.Cluster">
+Cluster
 </a>
 </em>
 </td>
 <td>
 <em>(Optional)</em>
+<p>Cluster that launched nodes connect to.</p>
 </td>
 </tr>
 <tr>
 <td>
 <code>Constraints</code></br>
 <em>
-<a href="#provisioning.karpenter.sh/v1alpha1.Constraints">
+<a href="#provisioning.karpenter.sh/v1alpha2.Constraints">
 Constraints
 </a>
 </em>
@@ -231,19 +232,40 @@ Constraints
 <p>
 (Members of <code>Constraints</code> are embedded into this type.)
 </p>
-<p>Constraints applied to nodes created by the provisioner</p>
+<em>(Optional)</em>
+<p>Constraints are applied to all nodes launched by this provisioner.</p>
+</td>
+</tr>
+<tr>
+<td>
+<code>ttlSecondsAfterEmpty</code></br>
+<em>
+int64
+</em>
+</td>
+<td>
+<em>(Optional)</em>
+<p>TTLSecondsAfterEmpty is the number of seconds the controller will wait
+before attempting to terminate a node, measured from when the node is
+detected to be empty. A Node is considered to be empty when it does not
+have pods scheduled to it, excluding daemonsets.</p>
+<p>Termination due to underutilization is disabled if this field is not set.</p>
 </td>
 </tr>
 <tr>
 <td>
-<code>ttlSeconds</code></br>
+<code>ttlSecondsUntilExpired</code></br>
 <em>
-int32
+int64
 </em>
 </td>
 <td>
 <em>(Optional)</em>
-<p>TTLSeconds determines how long to wait before attempting to terminate a node.</p>
+<p>TTLSecondsUntilExpired is the number of seconds the controller will wait
+before terminating a node, measured from when the node is created. This
+is useful to implement features like eventually consistent node upgrade,
+memory leak protection, and disruption testing.</p>
+<p>Termination due to expiration is disabled if this field is not set.</p>
 </td>
 </tr>
 </table>
@@ -253,7 +275,7 @@ int32
 <td>
 <code>status</code></br>
 <em>
-<a href="#provisioning.karpenter.sh/v1alpha1.ProvisionerStatus">
+<a href="#provisioning.karpenter.sh/v1alpha2.ProvisionerStatus">
 ProvisionerStatus
 </a>
 </em>
@@ -263,11 +285,11 @@ ProvisionerStatus
 </tr>
 </tbody>
 </table>
-<h3 id="provisioning.karpenter.sh/v1alpha1.ProvisionerSpec">ProvisionerSpec
+<h3 id="provisioning.karpenter.sh/v1alpha2.ProvisionerSpec">ProvisionerSpec
 </h3>
 <p>
 (<em>Appears on:</em>
-<a href="#provisioning.karpenter.sh/v1alpha1.Provisioner">Provisioner</a>)
+<a href="#provisioning.karpenter.sh/v1alpha2.Provisioner">Provisioner</a>)
 </p>
 <p>
 <p>ProvisionerSpec is the top level provisioner specification. Provisioners
@@ -293,20 +315,21 @@ pod.spec.nodeSelector[&ldquo;provisioning.karpenter.sh/name&rdquo;]=$PROVISIONER
 <td>
 <code>cluster</code></br>
 <em>
-<a href="#provisioning.karpenter.sh/v1alpha1.ClusterSpec">
-ClusterSpec
+<a href="#provisioning.karpenter.sh/v1alpha2.Cluster">
+Cluster
 </a>
 </em>
 </td>
 <td>
 <em>(Optional)</em>
+<p>Cluster that launched nodes connect to.</p>
 </td>
 </tr>
 <tr>
 <td>
 <code>Constraints</code></br>
 <em>
-<a href="#provisioning.karpenter.sh/v1alpha1.Constraints">
+<a href="#provisioning.karpenter.sh/v1alpha2.Constraints">
 Constraints
 </a>
 </em>
@@ -315,28 +338,49 @@ Constraints
 <p>
 (Members of <code>Constraints</code> are embedded into this type.)
 </p>
-<p>Constraints applied to nodes created by the provisioner</p>
+<em>(Optional)</em>
+<p>Constraints are applied to all nodes launched by this provisioner.</p>
+</td>
+</tr>
+<tr>
+<td>
+<code>ttlSecondsAfterEmpty</code></br>
+<em>
+int64
+</em>
+</td>
+<td>
+<em>(Optional)</em>
+<p>TTLSecondsAfterEmpty is the number of seconds the controller will wait
+before attempting to terminate a node, measured from when the node is
+detected to be empty. A Node is considered to be empty when it does not
+have pods scheduled to it, excluding daemonsets.</p>
+<p>Termination due to underutilization is disabled if this field is not set.</p>
 </td>
 </tr>
 <tr>
 <td>
-<code>ttlSeconds</code></br>
+<code>ttlSecondsUntilExpired</code></br>
 <em>
-int32
+int64
 </em>
 </td>
 <td>
 <em>(Optional)</em>
-<p>TTLSeconds determines how long to wait before attempting to terminate a node.</p>
+<p>TTLSecondsUntilExpired is the number of seconds the controller will wait
+before terminating a node, measured from when the node is created. This
+is useful to implement features like eventually consistent node upgrade,
+memory leak protection, and disruption testing.</p>
+<p>Termination due to expiration is disabled if this field is not set.</p>
 </td>
 </tr>
 </tbody>
 </table>
-<h3 id="provisioning.karpenter.sh/v1alpha1.ProvisionerStatus">ProvisionerStatus
+<h3 id="provisioning.karpenter.sh/v1alpha2.ProvisionerStatus">ProvisionerStatus
 </h3>
 <p>
 (<em>Appears on:</em>
-<a href="#provisioning.karpenter.sh/v1alpha1.Provisioner">Provisioner</a>)
+<a href="#provisioning.karpenter.sh/v1alpha2.Provisioner">Provisioner</a>)
 </p>
 <p>
 <p>ProvisionerStatus defines the observed state of Provisioner</p>
@@ -380,5 +424,5 @@ its target, and indicates whether or not those conditions are met.</p>
 <hr/>
 <p><em>
 Generated with <code>gen-crd-api-reference-docs</code>
-on git commit <code>08b78c7</code>.
+on git commit <code>36276c4</code>.
 </em></p>
diff --git a/docs/aws/README.md b/docs/aws/README.md
index 1ebfb6031c76..e10418dbcf3e 100644
--- a/docs/aws/README.md
+++ b/docs/aws/README.md
@@ -98,7 +98,7 @@ kubectl patch deployment karpenter-controller \
 Create a default Provisioner that launches nodes configured with cluster name, endpoint, and caBundle.
 ```bash
 cat <<EOF | kubectl apply -f -
-apiVersion: provisioning.karpenter.sh/v1alpha1
+apiVersion: provisioning.karpenter.sh/v1alpha2
 kind: Provisioner
 metadata:
   name: default
@@ -107,6 +107,7 @@ spec:
     name: ${CLUSTER_NAME}
     caBundle: $(aws eks describe-cluster --name ${CLUSTER_NAME} --query "cluster.certificateAuthority.data" --output json)
     endpoint: $(aws eks describe-cluster --name ${CLUSTER_NAME} --query "cluster.endpoint" --output json)
+  ttlSecondsAfterEmpty: 30
 EOF
 kubectl get provisioner default -oyaml
 ```
diff --git a/docs/aws/examples/provisioner.yaml b/docs/aws/examples/provisioner.yaml
index 55b1e1338264..049bf5c9a265 100644
--- a/docs/aws/examples/provisioner.yaml
+++ b/docs/aws/examples/provisioner.yaml
@@ -3,14 +3,24 @@ kind: Provisioner
 metadata:
   name: default
 spec:
-  # Provisioned nodes will be configured to connect to this cluster
+  # Provisioned nodes connect to this cluster
   cluster:
     name: "${CLUSTER_NAME}"
     caBundle: "${CLUSTER_CA_BUNDLE}"
     endpoint: "${CLUSTER_ENDPOINT}"
+
+  # If nil, the feature is disabled, nodes will never expire
+  ttlSecondsUntilExpired: 2592000 # 30 Days = 60 * 60 * 24 * 30 Seconds;
+
+  # If nil, the feature is disabled, nodes will never scale down due to low utilization
+  ttlSecondsAfterEmpty: 30
+
+  # Provisioned nodes will have these taints
   taints:
     - key: example.com/special-taint
       effect: NoSchedule
+
+  # Provisioned nodes will have these labels
   labels:
     ##### AWS Specific #####
     # Constrain node launch template, default="bottlerocket"
diff --git a/docs/deprecated/designs/metrics-driven-autoscaling.md b/docs/deprecated/designs/metrics-driven-autoscaling.md
index d8c3676d8e02..a2da23a97400 100644
--- a/docs/deprecated/designs/metrics-driven-autoscaling.md
+++ b/docs/deprecated/designs/metrics-driven-autoscaling.md
@@ -86,7 +86,7 @@ Alice wants to run weekly machine learning jobs using GPUs on her team’s clust
 
 She creates three Karpenter resources and applies them with kubectl apply:
 ```yaml
-apiVersion: karpenter.sh/v1alpha1
+apiVersion: karpenter.sh/v1alpha2
 kind: MetricsProducer
 metadata:
   name: ml-training-queue
@@ -100,7 +100,7 @@ spec:
 Her “ml-training-queue” configures Karpenter to periodically monitor queue metrics, such as the length of her AWS SQS Queue. The monitoring process has a Prometheus metrics endpoint at /metrics that returns the a set of metrics about the queue, including queue length. Alice has a Prometheus Server installed in her cluster, which dynamically discovers and periodically scrapes the queue length from the metrics producer and stores it in a timeseries database. Alice queries this data manually using karpenter:metrics_producer:queue-length{name="ml-training-queue", namespace="alice"} to make sure that everything is working smoothly.
 
 ```yaml
-apiVersion: karpenter.sh/v1alpha1
+apiVersion: karpenter.sh/v1alpha2
 kind: ScalableNodeGroup
 metadata:
   name: ml-training-capacity
@@ -111,14 +111,14 @@ spec:
 
 ---
 
-apiVersion: karpenter.sh/v1alpha1
+apiVersion: karpenter.sh/v1alpha2
 kind: HorizontalAutoscaler
 metadata:
   name: ml-training-capacity-autoscaler
   namespace: alice
 spec:
   scaleTargetRef:
-    apiVersion: karpenter.sh/v1alpha1
+    apiVersion: karpenter.sh/v1alpha2
     kind: ScalableNodeGroup
     name: ml-training-capacity
   metrics:
@@ -139,7 +139,7 @@ Bob is a coworker of Alice and their teams share the same cluster. His team host
 
 He creates two Karpenter resources and applies them with kubectl apply:
 ```yaml
-apiVersion: karpenter.sh/v1alpha1
+apiVersion: karpenter.sh/v1alpha2
 kind: ScalableNodeGroup
 metadata:
   name: bobs-microservices
@@ -149,14 +149,14 @@ spec:
 
 ---
 
-apiVersion: karpenter.sh/v1alpha1
+apiVersion: karpenter.sh/v1alpha2
 kind: HorizontalAutoscaler
 metadata:
   name: bobs-microservices-autoscaler
   namespace: bob
 spec:
   scaleTargetRef:
-    apiVersion: karpenter.sh/v1alpha1
+    apiVersion: karpenter.sh/v1alpha2
     kind: ScalableNodeGroup
     name: bobs-capacity
   metrics:
@@ -261,7 +261,7 @@ Many metrics (e.g. node capacity utilization) are implicit to the cluster and ca
 
 We expect this definition to evolve over time (see: Metrics Producer Implementations).
 ```yaml
-apiVersion: karpenter.sh/v1alpha1
+apiVersion: karpenter.sh/v1alpha2
 kind: MetricsProducer
 metadata:
   name: foo-queue-length
@@ -277,13 +277,13 @@ As discussed above, we will align as much as possible with the HPA API. An expli
 
 We expect this definition to evolve over time and intend to eventually upstream it into the core autoscaling API group.
 ```yaml
-apiVersion: karpenter.sh/v1alpha1
+apiVersion: karpenter.sh/v1alpha2
 kind: HorizontalAutoscaler
 metadata:
   name: my-capacity
 spec:
   scaleTargetRef:
-    apiVersion: karpenter.sh/v1alpha1
+    apiVersion: karpenter.sh/v1alpha2
     kind: ScalableNodeGroup
     name: my-capacity
   minReplicas: 1
@@ -304,7 +304,7 @@ The decision to use the HPA’s scaleTargetRef concept creates two requirements
 The Horizontal Autoscaler API is flexible to any and all of these options. However, many Kubernetes users don’t rely on one of these mechanisms for node group management, instead relying on cloud provider specific abstractions (e.g. ASG). Therefore, we will introduce a resource that can be optionally targeted by HorizontalAutoscaler’s scaleTargetRef for users who don’t have a KRM node group concept. This is a stop gap until other node group representations become more widespread. This object will follow a cloud provider model to provide implementations for different cloud provider solutions such as EKS Managed Node Groups, EC2 Auto Scaling Groups, and others. The only field supported by this resource is replicas, leaving management responsibilities like upgrade up to some other controller.
 
 ```yaml
-apiVersion: karpenter.sh/v1alpha1
+apiVersion: karpenter.sh/v1alpha2
 kind: ScalableNodeGroup
 metadata:
   name: default-capacity
@@ -346,7 +346,7 @@ Scheduled capacity is another approach. Many use cases have oscillating traffic
 This signal can be used in combination with other metrics in cases where demand is unexpected. For example, if scheduled capacity recommends that scale down should occur on a Friday afternoon, but due to a traffic spike a capacity reservation disagrees, the replica count will remain high.
 
 ```yaml
-apiVersion: karpenter.sh/v1alpha1
+apiVersion: karpenter.sh/v1alpha2
 kind: MetricsProducer
 metadata:
   name: foo-queue
@@ -369,7 +369,7 @@ prometheus:
 Pending pods operates across multiple node groups. When a pod becomes unschedulable, the algorithm attempts to find a node group which if scaled up, would cause the pod to be scheduled. The MetricsProducer emits a signal per node group that corresponds to whether or not a scale up should occur. The MetricsProducer doesn’t necessarily apply to all node groups in the cluster. This allows some capacity to be scaled using pending pods and others to rely on different metrics producers, which is common for large and diverse clusters.
 
 ```yaml
-apiVersion: karpenter.sh/v1alpha1
+apiVersion: karpenter.sh/v1alpha2
 kind: MetricsProducer
 metadata:
   name:
@@ -396,7 +396,7 @@ The second approach is to drive both pods and nodes using the same queue metric.
 Queue-based node autoscaling and pending pods are both viable approaches with different trade offs. Pending pods is aligned with Kubernetes bin-packing principles, and yields increased capacity utilization for clusters that host diverse workloads and are overprovisioned. In this case, new pods will first schedule into existing capacity before forcing node group scale up via a pending pod autoscaler. However, if users are looking for a simple batch processing workflow of scaleup → do work → scale down, the bin-packing benefits must be weighed against pending pods’ complexity, scalability, and scheduling latency tradeoffs.
 
 ```yaml
-apiVersion: karpenter.sh/v1alpha1
+apiVersion: karpenter.sh/v1alpha2
 kind: MetricsProducer
 metadata:
   name: foo-queue
diff --git a/docs/deprecated/designs/scheduled_capacity.md b/docs/deprecated/designs/scheduled_capacity.md
index 5e07d53b0418..feeae268599d 100644
--- a/docs/deprecated/designs/scheduled_capacity.md
+++ b/docs/deprecated/designs/scheduled_capacity.md
@@ -83,7 +83,7 @@ This configuration is scaling up for 9-5 on weekdays (red), scaling down a littl
 down almost fully for the weekends (blue).
 ![](../images/scheduled-capacity-example-schedule-graphic.png)
 ```yaml
-apiVersion: autoscaling.karpenter.sh/v1alpha1
+apiVersion: autoscaling.karpenter.sh/v1alpha2
 kind: MetricsProducer
 metadata:
   name: scheduling
@@ -184,7 +184,7 @@ at more complex levels of planning. We want to keep the tool intuitive, precise,
 understand their workloads can easily schedule them.
 
 ```yaml
-apiVersion: autoscaling.karpenter.sh/v1alpha1
+apiVersion: autoscaling.karpenter.sh/v1alpha2
 kind: MetricsProducer
 metadata:
   name: FakeScheduling
diff --git a/docs/designs/aws-launch-templates-options.md b/docs/designs/aws-launch-templates-options.md
index d8080d137daf..2bbc25c039c8 100644
--- a/docs/designs/aws-launch-templates-options.md
+++ b/docs/designs/aws-launch-templates-options.md
@@ -9,7 +9,7 @@ Templates](https://docs.aws.amazon.com/AWSEC2/latest/UserGuide/ec2-launch-templa
 Presently, the provisioner has the following shape:
 
 ```yaml
-apiVersion: provisioning.karpenter.sh/v1alpha1
+apiVersion: provisioning.karpenter.sh/v1alpha2
 kind: Provisioner
 metadata:
   name:
@@ -83,7 +83,7 @@ conflict with the architecture. For example, imagine a customer
 specified:
 
 ```yaml
-apiVersion: provisioning.karpenter.sh/v1alpha1
+apiVersion: provisioning.karpenter.sh/v1alpha2
 kind: Provisioner
 spec:
   architecture: arm64
@@ -140,7 +140,7 @@ Another solution would be to allow the user to specify architecture
 specific labels:
 
 ```yaml
-apiVersion: provisioning.karpenter.sh/v1alpha1
+apiVersion: provisioning.karpenter.sh/v1alpha2
 kind: Provisioner
 spec:
   labels:
@@ -156,7 +156,7 @@ spec:
 Or:
 
 ```yaml
-apiVersion: provisioning.karpenter.sh/v1alpha1
+apiVersion: provisioning.karpenter.sh/v1alpha2
 kind: Provisioner
 spec:
   # applied everywhere
@@ -173,7 +173,7 @@ Another possibility is to add another "path element" to the label name
 to make it architecture specific:
 
 ```yaml
-apiVersion: provisioning.karpenter.sh/v1alpha1
+apiVersion: provisioning.karpenter.sh/v1alpha2
 kind: Provisioner
 spec:
   labels:
@@ -204,7 +204,7 @@ spec:
 If a provisioner is configured as follows:
 
 ```yaml
-apiVersion: provisioning.karpenter.sh/v1alpha1
+apiVersion: provisioning.karpenter.sh/v1alpha2
 kind: Provisioner
 spec:
   labels:
diff --git a/docs/designs/termination.md b/docs/designs/termination.md
index 183312cf3fe9..c6dacee35147 100644
--- a/docs/designs/termination.md
+++ b/docs/designs/termination.md
@@ -78,7 +78,7 @@ type NodeDisruptionBudget struct {
 
 ```{yaml}
 # .yaml
-apiVersion: termination.karpenter.sh/v1alpha1
+apiVersion: termination.karpenter.sh/v1alpha2
 kind: NodeDisruptionBudget
 metadata:
   name: nodeBudget
diff --git a/pkg/apis/apis.go b/pkg/apis/apis.go
index a8dbe227020a..71c4254e0f94 100644
--- a/pkg/apis/apis.go
+++ b/pkg/apis/apis.go
@@ -16,7 +16,7 @@ limitations under the License.
 package apis
 
 import (
-	"github.com/awslabs/karpenter/pkg/apis/provisioning/v1alpha1"
+	"github.com/awslabs/karpenter/pkg/apis/provisioning/v1alpha2"
 	"k8s.io/apimachinery/pkg/runtime"
 	"k8s.io/apimachinery/pkg/runtime/schema"
 	"knative.dev/pkg/webhook/resourcesemantics"
@@ -25,12 +25,12 @@ import (
 var (
 	// Builder includes all types within the apis package
 	Builder = runtime.NewSchemeBuilder(
-		v1alpha1.SchemeBuilder.AddToScheme,
+		v1alpha2.SchemeBuilder.AddToScheme,
 	)
 	// AddToScheme may be used to add all resources defined in the project to a Scheme
 	AddToScheme = Builder.AddToScheme
 	// Resources
 	Resources = map[schema.GroupVersionKind]resourcesemantics.GenericCRD{
-		v1alpha1.SchemeGroupVersion.WithKind("Provisioner"): &v1alpha1.Provisioner{},
+		v1alpha2.SchemeGroupVersion.WithKind("Provisioner"): &v1alpha2.Provisioner{},
 	}
 )
diff --git a/pkg/apis/provisioning/v1alpha1/doc.go b/pkg/apis/provisioning/v1alpha2/doc.go
similarity index 91%
rename from pkg/apis/provisioning/v1alpha1/doc.go
rename to pkg/apis/provisioning/v1alpha2/doc.go
index 30ecdbb68950..7f564102d4a1 100644
--- a/pkg/apis/provisioning/v1alpha1/doc.go
+++ b/pkg/apis/provisioning/v1alpha2/doc.go
@@ -12,12 +12,12 @@ See the License for the specific language governing permissions and
 limitations under the License.
 */
 
-// Package v1alpha1 contains API Schema definitions for the v1alpha1 API group
+// Package v1alpha2 contains API Schema definitions for the v1alpha2 API group
 // +k8s:openapi-gen=true
 // +k8s:deepcopy-gen=package,register
 // +k8s:defaulter-gen=TypeMeta
 // +groupName=provisioning.karpenter.sh
-package v1alpha1
+package v1alpha2
 
 import (
 	metav1 "k8s.io/apimachinery/pkg/apis/meta/v1"
@@ -26,7 +26,7 @@ import (
 	"knative.dev/pkg/apis"
 )
 
-var SchemeGroupVersion = schema.GroupVersion{Group: "provisioning.karpenter.sh", Version: "v1alpha1"}
+var SchemeGroupVersion = schema.GroupVersion{Group: "provisioning.karpenter.sh", Version: "v1alpha2"}
 var SchemeBuilder = runtime.NewSchemeBuilder(func(scheme *runtime.Scheme) error {
 	scheme.AddKnownTypes(SchemeGroupVersion,
 		&Provisioner{},
diff --git a/pkg/apis/provisioning/v1alpha1/provisioner.go b/pkg/apis/provisioning/v1alpha2/provisioner.go
similarity index 85%
rename from pkg/apis/provisioning/v1alpha1/provisioner.go
rename to pkg/apis/provisioning/v1alpha2/provisioner.go
index add10963cfaf..e8947b18e6d9 100644
--- a/pkg/apis/provisioning/v1alpha1/provisioner.go
+++ b/pkg/apis/provisioning/v1alpha2/provisioner.go
@@ -12,7 +12,7 @@ See the License for the specific language governing permissions and
 limitations under the License.
 */
 
-package v1alpha1
+package v1alpha2
 
 import (
 	"github.com/awslabs/karpenter/pkg/utils/functional"
@@ -31,18 +31,33 @@ import (
 // different defaults and can be specifically targeted by pods using
 // pod.spec.nodeSelector["provisioning.karpenter.sh/name"]=$PROVISIONER_NAME.
 type ProvisionerSpec struct {
+	// Cluster that launched nodes connect to.
+	// +optional
+	Cluster *Cluster `json:"cluster,omitempty"`
+	// Constraints are applied to all nodes launched by this provisioner.
 	// +optional
-	Cluster *ClusterSpec `json:"cluster,omitempty"`
-	// Constraints applied to nodes created by the provisioner
 	Constraints `json:",inline"`
-	// TTLSeconds determines how long to wait before attempting to terminate a node.
+	// TTLSecondsAfterEmpty is the number of seconds the controller will wait
+	// before attempting to terminate a node, measured from when the node is
+	// detected to be empty. A Node is considered to be empty when it does not
+	// have pods scheduled to it, excluding daemonsets.
+	//
+	// Termination due to underutilization is disabled if this field is not set.
+	// +optional
+	TTLSecondsAfterEmpty *int64 `json:"ttlSecondsAfterEmpty,omitempty"`
+	// TTLSecondsUntilExpired is the number of seconds the controller will wait
+	// before terminating a node, measured from when the node is created. This
+	// is useful to implement features like eventually consistent node upgrade,
+	// memory leak protection, and disruption testing.
+	//
+	// Termination due to expiration is disabled if this field is not set.
 	// +optional
-	TTLSeconds *int32 `json:"ttlSeconds,omitempty"`
+	TTLSecondsUntilExpired *int64 `json:"ttlSecondsUntilExpired,omitempty"`
 }
 
-// ClusterSpec configures the cluster that the provisioner operates against. If
+// Cluster configures the cluster that the provisioner operates against. If
 // not specified, it will default to using the controller's kube-config.
-type ClusterSpec struct {
+type Cluster struct {
 	// Name is required to detect implementing cloud provider resources.
 	// +required
 	Name string `json:"name"`
diff --git a/pkg/apis/provisioning/v1alpha1/provisioner_defaults.go b/pkg/apis/provisioning/v1alpha2/provisioner_defaults.go
similarity index 69%
rename from pkg/apis/provisioning/v1alpha1/provisioner_defaults.go
rename to pkg/apis/provisioning/v1alpha2/provisioner_defaults.go
index fcef89d64a0c..effd203205b9 100644
--- a/pkg/apis/provisioning/v1alpha1/provisioner_defaults.go
+++ b/pkg/apis/provisioning/v1alpha2/provisioner_defaults.go
@@ -12,20 +12,14 @@ See the License for the specific language governing permissions and
 limitations under the License.
 */
 
-package v1alpha1
+package v1alpha2
 
 import (
 	"context"
-
-	"knative.dev/pkg/ptr"
 )
 
-func (p *Provisioner) SetDefaults(ctx context.Context) {
-	p.Spec.SetDefaults(ctx)
-}
+// SetDefaults for the provisioner
+func (p *Provisioner) SetDefaults(ctx context.Context) {}
 
-func (s *ProvisionerSpec) SetDefaults(ctx context.Context) {
-	if s.TTLSeconds == nil {
-		s.TTLSeconds = ptr.Int32(300)
-	}
-}
+// SetDefaults for the provisioner, cascading to all subspecs
+func (s *ProvisionerSpec) SetDefaults(ctx context.Context) {}
diff --git a/pkg/apis/provisioning/v1alpha1/provisioner_status.go b/pkg/apis/provisioning/v1alpha2/provisioner_status.go
similarity index 98%
rename from pkg/apis/provisioning/v1alpha1/provisioner_status.go
rename to pkg/apis/provisioning/v1alpha2/provisioner_status.go
index 4c195da4f39f..42e4fd81d8b7 100644
--- a/pkg/apis/provisioning/v1alpha1/provisioner_status.go
+++ b/pkg/apis/provisioning/v1alpha2/provisioner_status.go
@@ -11,7 +11,7 @@ CONDITIONS OF ANY KIND, either express or implied. See the License for the
 specific language governing permissions and limitations under the License.
 */
 
-package v1alpha1
+package v1alpha2
 
 import (
 	"knative.dev/pkg/apis"
diff --git a/pkg/apis/provisioning/v1alpha1/provisioner_validation.go b/pkg/apis/provisioning/v1alpha2/provisioner_validation.go
similarity index 96%
rename from pkg/apis/provisioning/v1alpha1/provisioner_validation.go
rename to pkg/apis/provisioning/v1alpha2/provisioner_validation.go
index 262015da833b..56b324e141da 100644
--- a/pkg/apis/provisioning/v1alpha1/provisioner_validation.go
+++ b/pkg/apis/provisioning/v1alpha2/provisioner_validation.go
@@ -12,7 +12,7 @@ See the License for the specific language governing permissions and
 limitations under the License.
 */
 
-package v1alpha1
+package v1alpha2
 
 import (
 	"context"
@@ -73,17 +73,17 @@ func (s *ProvisionerSpec) validateRestrictedLabels() (errs *apis.FieldError) {
 	return errs
 }
 
-func (s *ClusterSpec) validate() (errs *apis.FieldError) {
-	if s == nil {
+func (c *Cluster) validate() (errs *apis.FieldError) {
+	if c == nil {
 		return errs.Also(apis.ErrMissingField())
 	}
-	if len(s.Name) == 0 {
+	if len(c.Name) == 0 {
 		errs = errs.Also(apis.ErrMissingField("name"))
 	}
-	if len(s.Endpoint) == 0 {
+	if len(c.Endpoint) == 0 {
 		errs = errs.Also(apis.ErrMissingField("endpoint"))
 	}
-	if len(s.CABundle) == 0 {
+	if len(c.CABundle) == 0 {
 		errs = errs.Also(apis.ErrMissingField("caBundle"))
 	}
 	return errs
diff --git a/pkg/apis/provisioning/v1alpha1/provisioner_validation_test.go b/pkg/apis/provisioning/v1alpha2/provisioner_validation_test.go
similarity index 98%
rename from pkg/apis/provisioning/v1alpha1/provisioner_validation_test.go
rename to pkg/apis/provisioning/v1alpha2/provisioner_validation_test.go
index 0b2269109235..d3fb24b9aeb8 100644
--- a/pkg/apis/provisioning/v1alpha1/provisioner_validation_test.go
+++ b/pkg/apis/provisioning/v1alpha2/provisioner_validation_test.go
@@ -12,7 +12,7 @@ See the License for the specific language governing permissions and
 limitations under the License.
 */
 
-package v1alpha1
+package v1alpha2
 
 import (
 	"context"
@@ -44,7 +44,7 @@ var _ = Describe("Validation", func() {
 				Namespace: "default",
 			},
 			Spec: ProvisionerSpec{
-				Cluster: &ClusterSpec{
+				Cluster: &Cluster{
 					Name:     "test-cluster",
 					Endpoint: "https://test-cluster",
 					CABundle: "dGVzdC1jbHVzdGVyCg==",
@@ -54,7 +54,7 @@ var _ = Describe("Validation", func() {
 	})
 
 	It("should fail for empty cluster specification", func() {
-		for _, cluster := range []*ClusterSpec{
+		for _, cluster := range []*Cluster{
 			nil,
 			{Endpoint: "https://test-cluster", CABundle: "dGVzdC1jbHVzdGVyCg=="},
 			{Name: "test-cluster", CABundle: "dGVzdC1jbHVzdGVyCg=="},
diff --git a/pkg/apis/provisioning/v1alpha1/zz_generated.deepcopy.go b/pkg/apis/provisioning/v1alpha2/zz_generated.deepcopy.go
similarity index 92%
rename from pkg/apis/provisioning/v1alpha1/zz_generated.deepcopy.go
rename to pkg/apis/provisioning/v1alpha2/zz_generated.deepcopy.go
index e37c47ab36c7..132d7813f5f1 100644
--- a/pkg/apis/provisioning/v1alpha1/zz_generated.deepcopy.go
+++ b/pkg/apis/provisioning/v1alpha2/zz_generated.deepcopy.go
@@ -16,7 +16,7 @@ limitations under the License.
 
 // Code generated by controller-gen. DO NOT EDIT.
 
-package v1alpha1
+package v1alpha2
 
 import (
 	"k8s.io/api/core/v1"
@@ -25,16 +25,16 @@ import (
 )
 
 // DeepCopyInto is an autogenerated deepcopy function, copying the receiver, writing into out. in must be non-nil.
-func (in *ClusterSpec) DeepCopyInto(out *ClusterSpec) {
+func (in *Cluster) DeepCopyInto(out *Cluster) {
 	*out = *in
 }
 
-// DeepCopy is an autogenerated deepcopy function, copying the receiver, creating a new ClusterSpec.
-func (in *ClusterSpec) DeepCopy() *ClusterSpec {
+// DeepCopy is an autogenerated deepcopy function, copying the receiver, creating a new Cluster.
+func (in *Cluster) DeepCopy() *Cluster {
 	if in == nil {
 		return nil
 	}
-	out := new(ClusterSpec)
+	out := new(Cluster)
 	in.DeepCopyInto(out)
 	return out
 }
@@ -152,13 +152,18 @@ func (in *ProvisionerSpec) DeepCopyInto(out *ProvisionerSpec) {
 	*out = *in
 	if in.Cluster != nil {
 		in, out := &in.Cluster, &out.Cluster
-		*out = new(ClusterSpec)
+		*out = new(Cluster)
 		**out = **in
 	}
 	in.Constraints.DeepCopyInto(&out.Constraints)
-	if in.TTLSeconds != nil {
-		in, out := &in.TTLSeconds, &out.TTLSeconds
-		*out = new(int32)
+	if in.TTLSecondsAfterEmpty != nil {
+		in, out := &in.TTLSecondsAfterEmpty, &out.TTLSecondsAfterEmpty
+		*out = new(int64)
+		**out = **in
+	}
+	if in.TTLSecondsUntilExpired != nil {
+		in, out := &in.TTLSecondsUntilExpired, &out.TTLSecondsUntilExpired
+		*out = new(int64)
 		**out = **in
 	}
 }
diff --git a/pkg/cloudprovider/aws/cloudprovider.go b/pkg/cloudprovider/aws/cloudprovider.go
index 9724ea3e41ca..4c76187a6f1e 100644
--- a/pkg/cloudprovider/aws/cloudprovider.go
+++ b/pkg/cloudprovider/aws/cloudprovider.go
@@ -24,7 +24,7 @@ import (
 	"github.com/aws/aws-sdk-go/aws/session"
 	"github.com/aws/aws-sdk-go/service/ec2"
 	"github.com/aws/aws-sdk-go/service/ssm"
-	"github.com/awslabs/karpenter/pkg/apis/provisioning/v1alpha1"
+	"github.com/awslabs/karpenter/pkg/apis/provisioning/v1alpha2"
 	"github.com/awslabs/karpenter/pkg/cloudprovider"
 	"github.com/awslabs/karpenter/pkg/cloudprovider/aws/utils"
 	"github.com/awslabs/karpenter/pkg/utils/project"
@@ -51,11 +51,11 @@ const (
 
 var (
 	SupportedOperatingSystems = []string{
-		v1alpha1.OperatingSystemLinux,
+		v1alpha2.OperatingSystemLinux,
 	}
 	SupportedArchitectures = []string{
-		v1alpha1.ArchitectureAmd64,
-		v1alpha1.ArchitectureArm64,
+		v1alpha2.ArchitectureAmd64,
+		v1alpha2.ArchitectureArm64,
 	}
 )
 
@@ -108,7 +108,7 @@ func withUserAgent(sess *session.Session) *session.Session {
 }
 
 // Create a set of nodes given the constraints.
-func (c *CloudProvider) Create(ctx context.Context, provisioner *v1alpha1.Provisioner, packings []*cloudprovider.Packing) ([]*cloudprovider.PackedNode, error) {
+func (c *CloudProvider) Create(ctx context.Context, provisioner *v1alpha2.Provisioner, packings []*cloudprovider.Packing) ([]*cloudprovider.PackedNode, error) {
 	instanceIDs := []*string{}
 	instancePackings := map[string]*cloudprovider.Packing{}
 	for _, packing := range packings {
@@ -161,7 +161,7 @@ func (c *CloudProvider) Terminate(ctx context.Context, node *v1.Node) error {
 }
 
 // Validate cloud provider specific components of the cluster spec
-func (c *CloudProvider) Validate(ctx context.Context, constraints *v1alpha1.Constraints) (errs *apis.FieldError) {
+func (c *CloudProvider) Validate(ctx context.Context, constraints *v1alpha2.Constraints) (errs *apis.FieldError) {
 	awsConstraints := Constraints{*constraints}
 	return awsConstraints.Validate(ctx)
 }
diff --git a/pkg/cloudprovider/aws/constraints.go b/pkg/cloudprovider/aws/constraints.go
index 9af53f2b3abb..a8552f706e44 100644
--- a/pkg/cloudprovider/aws/constraints.go
+++ b/pkg/cloudprovider/aws/constraints.go
@@ -20,7 +20,7 @@ import (
 	"strings"
 
 	"github.com/aws/aws-sdk-go/aws"
-	"github.com/awslabs/karpenter/pkg/apis/provisioning/v1alpha1"
+	"github.com/awslabs/karpenter/pkg/apis/provisioning/v1alpha2"
 	"github.com/awslabs/karpenter/pkg/utils/functional"
 	"knative.dev/pkg/apis"
 )
@@ -50,15 +50,15 @@ var (
 		SecurityGroupTagKeyLabel,
 	}
 	AWSToKubeArchitectures = map[string]string{
-		"x86_64":                   v1alpha1.ArchitectureAmd64,
-		v1alpha1.ArchitectureArm64: v1alpha1.ArchitectureArm64,
+		"x86_64":                   v1alpha2.ArchitectureAmd64,
+		v1alpha2.ArchitectureArm64: v1alpha2.ArchitectureArm64,
 	}
 	KubeToAWSArchitectures = functional.InvertStringMap(AWSToKubeArchitectures)
 )
 
 // Constraints are AWS specific constraints
 type Constraints struct {
-	v1alpha1.Constraints
+	v1alpha2.Constraints
 }
 
 func (c *Constraints) GetCapacityType() string {
diff --git a/pkg/cloudprovider/aws/fake/ec2api.go b/pkg/cloudprovider/aws/fake/ec2api.go
index 4ed2f0add7f6..79ed68372d78 100644
--- a/pkg/cloudprovider/aws/fake/ec2api.go
+++ b/pkg/cloudprovider/aws/fake/ec2api.go
@@ -24,7 +24,7 @@ import (
 	"github.com/aws/aws-sdk-go/aws/request"
 	"github.com/aws/aws-sdk-go/service/ec2"
 	"github.com/aws/aws-sdk-go/service/ec2/ec2iface"
-	"github.com/awslabs/karpenter/pkg/apis/provisioning/v1alpha1"
+	"github.com/awslabs/karpenter/pkg/apis/provisioning/v1alpha2"
 )
 
 // EC2Behavior must be reset between tests otherwise tests will
@@ -220,7 +220,7 @@ func (e *EC2API) DescribeInstanceTypesPagesWithContext(ctx context.Context, inpu
 				BurstablePerformanceSupported: aws.Bool(false),
 				BareMetal:                     aws.Bool(false),
 				ProcessorInfo: &ec2.ProcessorInfo{
-					SupportedArchitectures: aws.StringSlice([]string{v1alpha1.ArchitectureArm64}),
+					SupportedArchitectures: aws.StringSlice([]string{v1alpha2.ArchitectureArm64}),
 				},
 				VCpuInfo: &ec2.VCpuInfo{
 					DefaultVCpus: aws.Int64(2),
diff --git a/pkg/cloudprovider/aws/instancetype.go b/pkg/cloudprovider/aws/instancetype.go
index 787294793f3c..db15697fd89f 100644
--- a/pkg/cloudprovider/aws/instancetype.go
+++ b/pkg/cloudprovider/aws/instancetype.go
@@ -19,7 +19,7 @@ import (
 
 	"github.com/aws/aws-sdk-go/aws"
 	"github.com/aws/aws-sdk-go/service/ec2"
-	"github.com/awslabs/karpenter/pkg/apis/provisioning/v1alpha1"
+	"github.com/awslabs/karpenter/pkg/apis/provisioning/v1alpha2"
 	"github.com/awslabs/karpenter/pkg/utils/resources"
 	v1 "k8s.io/api/core/v1"
 	"k8s.io/apimachinery/pkg/api/resource"
@@ -49,7 +49,7 @@ func (i *InstanceType) Architectures() []string {
 }
 
 func (i *InstanceType) OperatingSystems() []string {
-	return []string{v1alpha1.OperatingSystemLinux}
+	return []string{v1alpha2.OperatingSystemLinux}
 }
 
 func (i *InstanceType) CPU() *resource.Quantity {
diff --git a/pkg/cloudprovider/aws/launchtemplate.go b/pkg/cloudprovider/aws/launchtemplate.go
index 951e068be215..f5534ef7b431 100644
--- a/pkg/cloudprovider/aws/launchtemplate.go
+++ b/pkg/cloudprovider/aws/launchtemplate.go
@@ -25,7 +25,7 @@ import (
 	"github.com/aws/aws-sdk-go/aws/awserr"
 	"github.com/aws/aws-sdk-go/service/ec2"
 	"github.com/aws/aws-sdk-go/service/ec2/ec2iface"
-	"github.com/awslabs/karpenter/pkg/apis/provisioning/v1alpha1"
+	"github.com/awslabs/karpenter/pkg/apis/provisioning/v1alpha2"
 	"github.com/mitchellh/hashstructure/v2"
 
 	"github.com/patrickmn/go-cache"
@@ -77,14 +77,14 @@ func launchTemplateName(options *launchTemplateOptions) string {
 // to the number of LaunchTemplates that will result from this change.
 type launchTemplateOptions struct {
 	// Edge-triggered fields that will only change on kube events.
-	Cluster  v1alpha1.ClusterSpec
+	Cluster  v1alpha2.Cluster
 	UserData string
 	// Level-triggered fields that may change out of sync.
 	SecurityGroups []string
 	AMIID          string
 }
 
-func (p *LaunchTemplateProvider) Get(ctx context.Context, provisioner *v1alpha1.Provisioner, constraints *Constraints) (*LaunchTemplate, error) {
+func (p *LaunchTemplateProvider) Get(ctx context.Context, provisioner *v1alpha2.Provisioner, constraints *Constraints) (*LaunchTemplate, error) {
 	// 1. If the customer specified a launch template then just use it
 	if result := constraints.GetLaunchTemplate(); result != nil {
 		return result, nil
@@ -180,7 +180,7 @@ func (p *LaunchTemplateProvider) createLaunchTemplate(ctx context.Context, optio
 	return output.LaunchTemplate, nil
 }
 
-func (p *LaunchTemplateProvider) getSecurityGroupIds(ctx context.Context, provisioner *v1alpha1.Provisioner, constraints *Constraints) ([]string, error) {
+func (p *LaunchTemplateProvider) getSecurityGroupIds(ctx context.Context, provisioner *v1alpha2.Provisioner, constraints *Constraints) ([]string, error) {
 	securityGroupIds := []string{}
 	securityGroups, err := p.securityGroupProvider.Get(ctx, provisioner, constraints)
 	if err != nil {
@@ -192,12 +192,12 @@ func (p *LaunchTemplateProvider) getSecurityGroupIds(ctx context.Context, provis
 	return securityGroupIds, nil
 }
 
-func (p *LaunchTemplateProvider) getUserData(provisioner *v1alpha1.Provisioner, constraints *Constraints) string {
+func (p *LaunchTemplateProvider) getUserData(provisioner *v1alpha2.Provisioner, constraints *Constraints) string {
 	t := template.Must(template.New("userData").Parse(bottlerocketUserData))
 	var userData bytes.Buffer
 	if err := t.Execute(&userData, struct {
 		Constraints *Constraints
-		Cluster     v1alpha1.ClusterSpec
+		Cluster     v1alpha2.Cluster
 	}{constraints, *provisioner.Spec.Cluster}); err != nil {
 		panic(fmt.Sprintf("Parsing user data from %v, %v, %s", provisioner, constraints, err.Error()))
 	}
diff --git a/pkg/cloudprovider/aws/node.go b/pkg/cloudprovider/aws/node.go
index 488abf3da9ba..173c4c5f0814 100644
--- a/pkg/cloudprovider/aws/node.go
+++ b/pkg/cloudprovider/aws/node.go
@@ -22,7 +22,7 @@ import (
 	"github.com/aws/aws-sdk-go/aws/awserr"
 	"github.com/aws/aws-sdk-go/service/ec2"
 	"github.com/aws/aws-sdk-go/service/ec2/ec2iface"
-	"github.com/awslabs/karpenter/pkg/apis/provisioning/v1alpha1"
+	"github.com/awslabs/karpenter/pkg/apis/provisioning/v1alpha2"
 	"go.uber.org/zap"
 	v1 "k8s.io/api/core/v1"
 	"k8s.io/apimachinery/pkg/api/resource"
@@ -82,7 +82,7 @@ func (n *NodeFactory) nodeFrom(instance *ec2.Instance) *v1.Node {
 			},
 			NodeInfo: v1.NodeSystemInfo{
 				Architecture:    aws.StringValue(instance.Architecture),
-				OperatingSystem: v1alpha1.OperatingSystemLinux,
+				OperatingSystem: v1alpha2.OperatingSystemLinux,
 			},
 		},
 	}
diff --git a/pkg/cloudprovider/aws/securitygroups.go b/pkg/cloudprovider/aws/securitygroups.go
index 8377cf65084b..9fe0c5432317 100644
--- a/pkg/cloudprovider/aws/securitygroups.go
+++ b/pkg/cloudprovider/aws/securitygroups.go
@@ -21,7 +21,7 @@ import (
 	"github.com/aws/aws-sdk-go/aws"
 	"github.com/aws/aws-sdk-go/service/ec2"
 	"github.com/aws/aws-sdk-go/service/ec2/ec2iface"
-	"github.com/awslabs/karpenter/pkg/apis/provisioning/v1alpha1"
+	"github.com/awslabs/karpenter/pkg/apis/provisioning/v1alpha2"
 	"github.com/awslabs/karpenter/pkg/cloudprovider/aws/utils/predicates"
 	"github.com/patrickmn/go-cache"
 	"go.uber.org/zap"
@@ -39,7 +39,7 @@ func NewSecurityGroupProvider(ec2api ec2iface.EC2API) *SecurityGroupProvider {
 	}
 }
 
-func (s *SecurityGroupProvider) Get(ctx context.Context, provisioner *v1alpha1.Provisioner, constraints *Constraints) ([]*ec2.SecurityGroup, error) {
+func (s *SecurityGroupProvider) Get(ctx context.Context, provisioner *v1alpha2.Provisioner, constraints *Constraints) ([]*ec2.SecurityGroup, error) {
 	// 1. Get Security Groups
 	securityGroups, err := s.getSecurityGroups(ctx, provisioner.Spec.Cluster.Name)
 	if err != nil {
diff --git a/pkg/cloudprovider/aws/subnets.go b/pkg/cloudprovider/aws/subnets.go
index da7b38e83865..28d7e11a80e7 100644
--- a/pkg/cloudprovider/aws/subnets.go
+++ b/pkg/cloudprovider/aws/subnets.go
@@ -21,7 +21,7 @@ import (
 	"github.com/aws/aws-sdk-go/aws"
 	"github.com/aws/aws-sdk-go/service/ec2"
 	"github.com/aws/aws-sdk-go/service/ec2/ec2iface"
-	"github.com/awslabs/karpenter/pkg/apis/provisioning/v1alpha1"
+	"github.com/awslabs/karpenter/pkg/apis/provisioning/v1alpha2"
 	"github.com/awslabs/karpenter/pkg/cloudprovider/aws/utils/predicates"
 	"github.com/patrickmn/go-cache"
 	"go.uber.org/zap"
@@ -39,7 +39,7 @@ func NewSubnetProvider(ec2api ec2iface.EC2API) *SubnetProvider {
 	}
 }
 
-func (s *SubnetProvider) Get(ctx context.Context, provisioner *v1alpha1.Provisioner, constraints *Constraints) ([]*ec2.Subnet, error) {
+func (s *SubnetProvider) Get(ctx context.Context, provisioner *v1alpha2.Provisioner, constraints *Constraints) ([]*ec2.Subnet, error) {
 	// 1. Get all viable subnets for this provisioner
 	subnets, err := s.getSubnets(ctx, provisioner)
 	if err != nil {
@@ -64,7 +64,7 @@ func (s *SubnetProvider) Get(ctx context.Context, provisioner *v1alpha1.Provisio
 	return subnets, nil
 }
 
-func (s *SubnetProvider) getSubnets(ctx context.Context, provisioner *v1alpha1.Provisioner) ([]*ec2.Subnet, error) {
+func (s *SubnetProvider) getSubnets(ctx context.Context, provisioner *v1alpha2.Provisioner) ([]*ec2.Subnet, error) {
 	if subnets, ok := s.cache.Get(provisioner.Spec.Cluster.Name); ok {
 		return subnets.([]*ec2.Subnet), nil
 	}
diff --git a/pkg/cloudprovider/aws/suite_test.go b/pkg/cloudprovider/aws/suite_test.go
index 488ca507dce3..035de6254a72 100644
--- a/pkg/cloudprovider/aws/suite_test.go
+++ b/pkg/cloudprovider/aws/suite_test.go
@@ -19,15 +19,15 @@ import (
 	"strings"
 	"testing"
 
-	"github.com/awslabs/karpenter/pkg/apis/provisioning/v1alpha1"
+	"github.com/Pallinder/go-randomdata"
+	"github.com/awslabs/karpenter/pkg/apis/provisioning/v1alpha2"
 	"github.com/awslabs/karpenter/pkg/cloudprovider/aws/fake"
 	"github.com/awslabs/karpenter/pkg/cloudprovider/registry"
-	"github.com/awslabs/karpenter/pkg/controllers/provisioning/v1alpha1/allocation"
+	"github.com/awslabs/karpenter/pkg/controllers/allocation"
 	"github.com/awslabs/karpenter/pkg/test"
 	. "github.com/awslabs/karpenter/pkg/test/expectations"
 	"github.com/awslabs/karpenter/pkg/utils/resources"
 
-	"github.com/Pallinder/go-randomdata"
 	"github.com/aws/aws-sdk-go/aws"
 	"github.com/aws/aws-sdk-go/service/ec2"
 	. "github.com/onsi/ginkgo"
@@ -82,17 +82,17 @@ var _ = AfterSuite(func() {
 
 var _ = Describe("Allocation", func() {
 	var ctx context.Context
-	var provisioner *v1alpha1.Provisioner
+	var provisioner *v1alpha2.Provisioner
 
 	BeforeEach(func() {
 		ctx = context.Background()
-		provisioner = &v1alpha1.Provisioner{
+		provisioner = &v1alpha2.Provisioner{
 			ObjectMeta: metav1.ObjectMeta{
 				Name:      strings.ToLower(randomdata.SillyName()),
 				Namespace: "default",
 			},
-			Spec: v1alpha1.ProvisionerSpec{
-				Cluster: &v1alpha1.ClusterSpec{
+			Spec: v1alpha2.ProvisionerSpec{
+				Cluster: &v1alpha2.Cluster{
 					Name:     "test-cluster",
 					Endpoint: "https://test-cluster",
 					CABundle: "dGVzdC1jbHVzdGVyCg==",
@@ -530,9 +530,9 @@ var _ = Describe("Allocation", func() {
 		})
 	})
 	Context("Validation", func() {
-		Context("ClusterSpec", func() {
+		Context("Cluster", func() {
 			It("should fail if fields are empty", func() {
-				for _, cluster := range []*v1alpha1.ClusterSpec{
+				for _, cluster := range []*v1alpha2.Cluster{
 					nil,
 					{Endpoint: "https://test-cluster", CABundle: "dGVzdC1jbHVzdGVyCg=="},
 					{Name: "test-cluster", CABundle: "dGVzdC1jbHVzdGVyCg=="},
@@ -627,11 +627,11 @@ var _ = Describe("Allocation", func() {
 				Expect(provisioner.Validate(ctx)).ToNot(Succeed())
 			})
 			It("should support AMD", func() {
-				provisioner.Spec.Architecture = ptr.String(v1alpha1.ArchitectureAmd64)
+				provisioner.Spec.Architecture = ptr.String(v1alpha2.ArchitectureAmd64)
 				Expect(provisioner.Validate(ctx)).To(Succeed())
 			})
 			It("should support ARM", func() {
-				provisioner.Spec.Architecture = ptr.String(v1alpha1.ArchitectureArm64)
+				provisioner.Spec.Architecture = ptr.String(v1alpha2.ArchitectureArm64)
 				Expect(provisioner.Validate(ctx)).To(Succeed())
 			})
 		})
@@ -644,7 +644,7 @@ var _ = Describe("Allocation", func() {
 				Expect(provisioner.Validate(ctx)).ToNot(Succeed())
 			})
 			It("should support linux", func() {
-				provisioner.Spec.OperatingSystem = ptr.String(v1alpha1.OperatingSystemLinux)
+				provisioner.Spec.OperatingSystem = ptr.String(v1alpha2.OperatingSystemLinux)
 				Expect(provisioner.Validate(ctx)).To(Succeed())
 			})
 		})
diff --git a/pkg/cloudprovider/fake/cloudprovider.go b/pkg/cloudprovider/fake/cloudprovider.go
index b5de3f371ad6..2528204d2b35 100644
--- a/pkg/cloudprovider/fake/cloudprovider.go
+++ b/pkg/cloudprovider/fake/cloudprovider.go
@@ -20,7 +20,7 @@ import (
 	"strings"
 
 	"github.com/Pallinder/go-randomdata"
-	"github.com/awslabs/karpenter/pkg/apis/provisioning/v1alpha1"
+	"github.com/awslabs/karpenter/pkg/apis/provisioning/v1alpha2"
 	"github.com/awslabs/karpenter/pkg/cloudprovider"
 	"github.com/awslabs/karpenter/pkg/utils/functional"
 
@@ -32,7 +32,7 @@ import (
 
 type CloudProvider struct{}
 
-func (c *CloudProvider) Create(ctx context.Context, provisioner *v1alpha1.Provisioner, packings []*cloudprovider.Packing) ([]*cloudprovider.PackedNode, error) {
+func (c *CloudProvider) Create(ctx context.Context, provisioner *v1alpha2.Provisioner, packings []*cloudprovider.Packing) ([]*cloudprovider.PackedNode, error) {
 	packedNodes := []*cloudprovider.PackedNode{}
 	for _, packing := range packings {
 		name := strings.ToLower(randomdata.SillyName())
@@ -102,7 +102,7 @@ func (c *CloudProvider) GetInstanceTypes(ctx context.Context) ([]cloudprovider.I
 	}, nil
 }
 
-func (c *CloudProvider) Validate(context.Context, *v1alpha1.Constraints) *apis.FieldError {
+func (c *CloudProvider) Validate(context.Context, *v1alpha2.Constraints) *apis.FieldError {
 	return nil
 }
 
diff --git a/pkg/cloudprovider/registry/register.go b/pkg/cloudprovider/registry/register.go
index 6592698fe41c..cba49d814fac 100644
--- a/pkg/cloudprovider/registry/register.go
+++ b/pkg/cloudprovider/registry/register.go
@@ -18,7 +18,7 @@ import (
 	"context"
 	"fmt"
 
-	"github.com/awslabs/karpenter/pkg/apis/provisioning/v1alpha1"
+	"github.com/awslabs/karpenter/pkg/apis/provisioning/v1alpha2"
 	"github.com/awslabs/karpenter/pkg/cloudprovider"
 )
 
@@ -42,7 +42,7 @@ func RegisterOrDie(cloudProvider cloudprovider.CloudProvider) {
 		panic(fmt.Sprintf("Failed to retrieve instance types, %s", err.Error()))
 	}
 	for _, instanceType := range instanceTypes {
-		v1alpha1.SupportedInstanceTypes = append(v1alpha1.SupportedInstanceTypes, instanceType.Name())
+		v1alpha2.SupportedInstanceTypes = append(v1alpha2.SupportedInstanceTypes, instanceType.Name())
 		for _, zone := range instanceType.Zones() {
 			zones[zone] = true
 		}
@@ -54,13 +54,13 @@ func RegisterOrDie(cloudProvider cloudprovider.CloudProvider) {
 		}
 	}
 	for zone := range zones {
-		v1alpha1.SupportedZones = append(v1alpha1.SupportedZones, zone)
+		v1alpha2.SupportedZones = append(v1alpha2.SupportedZones, zone)
 	}
 	for architecture := range architectures {
-		v1alpha1.SupportedArchitectures = append(v1alpha1.SupportedArchitectures, architecture)
+		v1alpha2.SupportedArchitectures = append(v1alpha2.SupportedArchitectures, architecture)
 	}
 	for operatingSystem := range operatingSystems {
-		v1alpha1.SupportedOperatingSystems = append(v1alpha1.SupportedOperatingSystems, operatingSystem)
+		v1alpha2.SupportedOperatingSystems = append(v1alpha2.SupportedOperatingSystems, operatingSystem)
 	}
-	v1alpha1.ConstraintsValidationHook = cloudProvider.Validate
+	v1alpha2.ConstraintsValidationHook = cloudProvider.Validate
 }
diff --git a/pkg/cloudprovider/types.go b/pkg/cloudprovider/types.go
index 6df901c132f7..b427ed81d73f 100644
--- a/pkg/cloudprovider/types.go
+++ b/pkg/cloudprovider/types.go
@@ -17,7 +17,7 @@ package cloudprovider
 import (
 	"context"
 
-	"github.com/awslabs/karpenter/pkg/apis/provisioning/v1alpha1"
+	"github.com/awslabs/karpenter/pkg/apis/provisioning/v1alpha2"
 	v1 "k8s.io/api/core/v1"
 	"k8s.io/apimachinery/pkg/api/resource"
 	"k8s.io/client-go/kubernetes"
@@ -27,12 +27,12 @@ import (
 // CloudProvider holds contains the methods necessary in a cloud provider
 type CloudProvider interface {
 	// Create a set of nodes for each of the given constraints.
-	Create(context.Context, *v1alpha1.Provisioner, []*Packing) ([]*PackedNode, error)
+	Create(context.Context, *v1alpha2.Provisioner, []*Packing) ([]*PackedNode, error)
 	// GetInstanceTypes returns the instance types supported by the cloud
 	// provider limited by the provided constraints and daemons.
 	GetInstanceTypes(context.Context) ([]InstanceType, error)
 	// Validate is a hook for additional constraint validation logic specific to the cloud provider
-	Validate(context.Context, *v1alpha1.Constraints) *apis.FieldError
+	Validate(context.Context, *v1alpha2.Constraints) *apis.FieldError
 	// Terminate node in cloudprovider
 	Terminate(context.Context, *v1.Node) error
 }
@@ -43,7 +43,7 @@ type CloudProvider interface {
 type Packing struct {
 	Pods                []*v1.Pod
 	InstanceTypeOptions []InstanceType
-	Constraints         *v1alpha1.Constraints
+	Constraints         *v1alpha2.Constraints
 }
 
 // PackedNode is a node object and the pods that should be bound to it. It is
diff --git a/pkg/controllers/provisioning/v1alpha1/allocation/bind.go b/pkg/controllers/allocation/bind.go
similarity index 95%
rename from pkg/controllers/provisioning/v1alpha1/allocation/bind.go
rename to pkg/controllers/allocation/bind.go
index 2d3f44772402..7cd40db4684b 100644
--- a/pkg/controllers/provisioning/v1alpha1/allocation/bind.go
+++ b/pkg/controllers/allocation/bind.go
@@ -18,7 +18,7 @@ import (
 	"context"
 	"fmt"
 
-	"github.com/awslabs/karpenter/pkg/apis/provisioning/v1alpha1"
+	"github.com/awslabs/karpenter/pkg/apis/provisioning/v1alpha2"
 	"go.uber.org/zap"
 	v1 "k8s.io/api/core/v1"
 	"k8s.io/apimachinery/pkg/api/errors"
@@ -34,7 +34,7 @@ type Binder struct {
 
 func (b *Binder) Bind(ctx context.Context, node *v1.Node, pods []*v1.Pod) error {
 	// 1. Add the Karpenter finalizer to the node to enable the termination workflow
-	node.Finalizers = append(node.Finalizers, v1alpha1.KarpenterFinalizer)
+	node.Finalizers = append(node.Finalizers, v1alpha2.KarpenterFinalizer)
 	// 2. Mark NodeReady=Unknown
 	// Unfortunately, this detail is necessary to prevent kube-scheduler from
 	// scheduling pods to nodes before they're created. Node Lifecycle
diff --git a/pkg/controllers/provisioning/v1alpha1/allocation/constraints.go b/pkg/controllers/allocation/constraints.go
similarity index 92%
rename from pkg/controllers/provisioning/v1alpha1/allocation/constraints.go
rename to pkg/controllers/allocation/constraints.go
index 1a7113ad5cd0..bf25a2caa50f 100644
--- a/pkg/controllers/provisioning/v1alpha1/allocation/constraints.go
+++ b/pkg/controllers/allocation/constraints.go
@@ -20,7 +20,7 @@ import (
 
 	"github.com/awslabs/karpenter/pkg/utils/pod"
 
-	"github.com/awslabs/karpenter/pkg/apis/provisioning/v1alpha1"
+	"github.com/awslabs/karpenter/pkg/apis/provisioning/v1alpha2"
 	"github.com/awslabs/karpenter/pkg/packing"
 	"github.com/mitchellh/hashstructure/v2"
 	appsv1 "k8s.io/api/apps/v1"
@@ -36,13 +36,13 @@ type Constraints struct {
 // Group separates pods into a set of equivalent scheduling groups. All pods in
 // each group can be deployed together on the same node, or separately on
 // multiple nodes. These groups map to scheduling properties like taints/labels.
-func (c *Constraints) Group(ctx context.Context, provisioner *v1alpha1.Provisioner, pods []*v1.Pod) ([]*packing.Constraints, error) {
+func (c *Constraints) Group(ctx context.Context, provisioner *v1alpha2.Provisioner, pods []*v1.Pod) ([]*packing.Constraints, error) {
 	// Groups uniqueness is tracked by hash(Constraints)
 	groups := map[uint64]*packing.Constraints{}
 	for _, pod := range pods {
 		constraints := provisioner.Spec.Constraints.
-			WithLabel(v1alpha1.ProvisionerNameLabelKey, provisioner.GetName()).
-			WithLabel(v1alpha1.ProvisionerNamespaceLabelKey, provisioner.GetNamespace()).
+			WithLabel(v1alpha2.ProvisionerNameLabelKey, provisioner.GetName()).
+			WithLabel(v1alpha2.ProvisionerNamespaceLabelKey, provisioner.GetNamespace()).
 			WithOverrides(pod)
 		key, err := hashstructure.Hash(constraints, hashstructure.FormatV2, nil)
 		if err != nil {
diff --git a/pkg/controllers/provisioning/v1alpha1/allocation/controller.go b/pkg/controllers/allocation/controller.go
similarity index 96%
rename from pkg/controllers/provisioning/v1alpha1/allocation/controller.go
rename to pkg/controllers/allocation/controller.go
index 04ef90de755b..81e37cc3a34a 100644
--- a/pkg/controllers/provisioning/v1alpha1/allocation/controller.go
+++ b/pkg/controllers/allocation/controller.go
@@ -19,7 +19,7 @@ import (
 	"fmt"
 	"time"
 
-	"github.com/awslabs/karpenter/pkg/apis/provisioning/v1alpha1"
+	"github.com/awslabs/karpenter/pkg/apis/provisioning/v1alpha2"
 	"github.com/awslabs/karpenter/pkg/cloudprovider"
 	"github.com/awslabs/karpenter/pkg/packing"
 	"github.com/awslabs/karpenter/pkg/utils/apiobject"
@@ -41,7 +41,7 @@ type Controller struct {
 
 // For returns the resource this controller is for.
 func (c *Controller) For() client.Object {
-	return &v1alpha1.Provisioner{}
+	return &v1alpha2.Provisioner{}
 }
 
 func (c *Controller) Interval() time.Duration {
@@ -65,7 +65,7 @@ func NewController(kubeClient client.Client, coreV1Client corev1.CoreV1Interface
 
 // Reconcile executes an allocation control loop for the resource
 func (c *Controller) Reconcile(ctx context.Context, object client.Object) (reconcile.Result, error) {
-	provisioner := object.(*v1alpha1.Provisioner)
+	provisioner := object.(*v1alpha2.Provisioner)
 	// 1. Filter pods
 	pods, err := c.filter.GetProvisionablePods(ctx, provisioner)
 	if err != nil {
diff --git a/pkg/controllers/provisioning/v1alpha1/allocation/filter.go b/pkg/controllers/allocation/filter.go
similarity index 90%
rename from pkg/controllers/provisioning/v1alpha1/allocation/filter.go
rename to pkg/controllers/allocation/filter.go
index 420142f5f29f..a55f9b8f2919 100644
--- a/pkg/controllers/provisioning/v1alpha1/allocation/filter.go
+++ b/pkg/controllers/allocation/filter.go
@@ -18,7 +18,7 @@ import (
 	"context"
 	"fmt"
 
-	"github.com/awslabs/karpenter/pkg/apis/provisioning/v1alpha1"
+	"github.com/awslabs/karpenter/pkg/apis/provisioning/v1alpha2"
 	"github.com/awslabs/karpenter/pkg/utils/functional"
 	"github.com/awslabs/karpenter/pkg/utils/pod"
 	"github.com/awslabs/karpenter/pkg/utils/ptr"
@@ -32,7 +32,7 @@ type Filter struct {
 	kubeClient client.Client
 }
 
-func (f *Filter) GetProvisionablePods(ctx context.Context, provisioner *v1alpha1.Provisioner) ([]*v1.Pod, error) {
+func (f *Filter) GetProvisionablePods(ctx context.Context, provisioner *v1alpha2.Provisioner) ([]*v1.Pod, error) {
 	// 1. List Pods that aren't scheduled
 	pods := &v1.PodList{}
 	if err := f.kubeClient.List(ctx, pods, client.MatchingFields{"spec.nodeName": ""}); err != nil {
@@ -84,15 +84,15 @@ func (f *Filter) hasSupportedSchedulingConstraints(pod *v1.Pod) error {
 	return nil
 }
 
-func (f *Filter) matchesProvisioner(pod *v1.Pod, provisioner *v1alpha1.Provisioner) error {
+func (f *Filter) matchesProvisioner(pod *v1.Pod, provisioner *v1alpha2.Provisioner) error {
 	if pod.Spec.NodeSelector == nil {
 		return nil
 	}
-	name, ok := pod.Spec.NodeSelector[v1alpha1.ProvisionerNameLabelKey]
+	name, ok := pod.Spec.NodeSelector[v1alpha2.ProvisionerNameLabelKey]
 	if !ok {
 		return nil
 	}
-	namespace, ok := pod.Spec.NodeSelector[v1alpha1.ProvisionerNamespaceLabelKey]
+	namespace, ok := pod.Spec.NodeSelector[v1alpha2.ProvisionerNamespaceLabelKey]
 	if !ok {
 		return nil
 	}
@@ -102,7 +102,7 @@ func (f *Filter) matchesProvisioner(pod *v1.Pod, provisioner *v1alpha1.Provision
 	return fmt.Errorf("matched another provisioner, %s/%s", name, namespace)
 }
 
-func (f *Filter) toleratesTaints(p *v1.Pod, provisioner *v1alpha1.Provisioner) error {
+func (f *Filter) toleratesTaints(p *v1.Pod, provisioner *v1alpha2.Provisioner) error {
 	var err error
 	for _, taint := range provisioner.Spec.Taints {
 		if !pod.ToleratesTaint(&p.Spec, taint) {
@@ -112,7 +112,7 @@ func (f *Filter) toleratesTaints(p *v1.Pod, provisioner *v1alpha1.Provisioner) e
 	return err
 }
 
-func (f *Filter) withValidConstraints(ctx context.Context, pod *v1.Pod, provisioner *v1alpha1.Provisioner) error {
+func (f *Filter) withValidConstraints(ctx context.Context, pod *v1.Pod, provisioner *v1alpha2.Provisioner) error {
 	if err := provisioner.Spec.Constraints.WithOverrides(pod).Validate(ctx); err != nil {
 		return fmt.Errorf("invalid constraints, %w", err)
 	}
diff --git a/pkg/controllers/provisioning/v1alpha1/allocation/suite_test.go b/pkg/controllers/allocation/suite_test.go
similarity index 92%
rename from pkg/controllers/provisioning/v1alpha1/allocation/suite_test.go
rename to pkg/controllers/allocation/suite_test.go
index 32887e17a8ea..12eac9da532c 100644
--- a/pkg/controllers/provisioning/v1alpha1/allocation/suite_test.go
+++ b/pkg/controllers/allocation/suite_test.go
@@ -20,7 +20,7 @@ import (
 	"testing"
 
 	"github.com/Pallinder/go-randomdata"
-	"github.com/awslabs/karpenter/pkg/apis/provisioning/v1alpha1"
+	"github.com/awslabs/karpenter/pkg/apis/provisioning/v1alpha2"
 	"github.com/awslabs/karpenter/pkg/cloudprovider/fake"
 	"github.com/awslabs/karpenter/pkg/cloudprovider/registry"
 	"github.com/awslabs/karpenter/pkg/test"
@@ -63,16 +63,16 @@ var _ = AfterSuite(func() {
 })
 
 var _ = Describe("Allocation", func() {
-	var provisioner *v1alpha1.Provisioner
+	var provisioner *v1alpha2.Provisioner
 	var ctx context.Context
 	BeforeEach(func() {
-		provisioner = &v1alpha1.Provisioner{
+		provisioner = &v1alpha2.Provisioner{
 			ObjectMeta: metav1.ObjectMeta{
 				Name:      strings.ToLower(randomdata.SillyName()),
 				Namespace: "default",
 			},
-			Spec: v1alpha1.ProvisionerSpec{
-				Cluster: &v1alpha1.ClusterSpec{Name: "test-cluster", Endpoint: "http://test-cluster", CABundle: "dGVzdC1jbHVzdGVyCg=="},
+			Spec: v1alpha2.ProvisionerSpec{
+				Cluster: &v1alpha2.Cluster{Name: "test-cluster", Endpoint: "http://test-cluster", CABundle: "dGVzdC1jbHVzdGVyCg=="},
 			},
 		}
 		ctx = context.Background()
@@ -103,7 +103,7 @@ var _ = Describe("Allocation", func() {
 				// Setup
 				provisioner.Spec.Zones = []string{"test-zone-1"}
 				pod := AttemptProvisioning(env.Client, provisioner,
-					test.PendingPod(test.PodOptions{NodeSelector: map[string]string{v1alpha1.ZoneLabelKey: "test-zone-2"}}),
+					test.PendingPod(test.PodOptions{NodeSelector: map[string]string{v1alpha2.ZoneLabelKey: "test-zone-2"}}),
 				)
 				// Assertions
 				node := ExpectNodeExists(env.Client, pod.Spec.NodeName)
@@ -132,32 +132,32 @@ var _ = Describe("Allocation", func() {
 				test.PendingPod(),
 				// Constrained by provisioner
 				test.PendingPod(test.PodOptions{
-					NodeSelector: map[string]string{v1alpha1.ProvisionerNameLabelKey: provisioner.Name, v1alpha1.ProvisionerNamespaceLabelKey: provisioner.Namespace},
+					NodeSelector: map[string]string{v1alpha2.ProvisionerNameLabelKey: provisioner.Name, v1alpha2.ProvisionerNamespaceLabelKey: provisioner.Namespace},
 				}),
 			}
 			schedulable := []client.Object{
 				// Constrained by zone
-				test.PendingPod(test.PodOptions{NodeSelector: map[string]string{v1alpha1.ZoneLabelKey: "test-zone-1"}}),
+				test.PendingPod(test.PodOptions{NodeSelector: map[string]string{v1alpha2.ZoneLabelKey: "test-zone-1"}}),
 				// Constrained by instanceType
-				test.PendingPod(test.PodOptions{NodeSelector: map[string]string{v1alpha1.InstanceTypeLabelKey: "default-instance-type"}}),
+				test.PendingPod(test.PodOptions{NodeSelector: map[string]string{v1alpha2.InstanceTypeLabelKey: "default-instance-type"}}),
 				// Constrained by architecture
-				test.PendingPod(test.PodOptions{NodeSelector: map[string]string{v1alpha1.ArchitectureLabelKey: "arm64"}}),
+				test.PendingPod(test.PodOptions{NodeSelector: map[string]string{v1alpha2.ArchitectureLabelKey: "arm64"}}),
 				// Constrained by operating system
-				test.PendingPod(test.PodOptions{NodeSelector: map[string]string{v1alpha1.OperatingSystemLabelKey: "windows"}}),
+				test.PendingPod(test.PodOptions{NodeSelector: map[string]string{v1alpha2.OperatingSystemLabelKey: "windows"}}),
 				// Constrained by arbitrary label
 				test.PendingPod(test.PodOptions{NodeSelector: map[string]string{"foo": "bar"}}),
 			}
 			unschedulable := []client.Object{
 				// Ignored, matches another provisioner
-				test.PendingPod(test.PodOptions{NodeSelector: map[string]string{v1alpha1.ProvisionerNameLabelKey: "unknown", v1alpha1.ProvisionerNamespaceLabelKey: "unknown"}}),
+				test.PendingPod(test.PodOptions{NodeSelector: map[string]string{v1alpha2.ProvisionerNameLabelKey: "unknown", v1alpha2.ProvisionerNamespaceLabelKey: "unknown"}}),
 				// Ignored, invalid zone
-				test.PendingPod(test.PodOptions{NodeSelector: map[string]string{v1alpha1.ZoneLabelKey: "unknown"}}),
+				test.PendingPod(test.PodOptions{NodeSelector: map[string]string{v1alpha2.ZoneLabelKey: "unknown"}}),
 				// Ignored, invalid instance type
-				test.PendingPod(test.PodOptions{NodeSelector: map[string]string{v1alpha1.InstanceTypeLabelKey: "unknown"}}),
+				test.PendingPod(test.PodOptions{NodeSelector: map[string]string{v1alpha2.InstanceTypeLabelKey: "unknown"}}),
 				// Ignored, invalid architecture
-				test.PendingPod(test.PodOptions{NodeSelector: map[string]string{v1alpha1.ArchitectureLabelKey: "unknown"}}),
+				test.PendingPod(test.PodOptions{NodeSelector: map[string]string{v1alpha2.ArchitectureLabelKey: "unknown"}}),
 				// Ignored, invalid operating system
-				test.PendingPod(test.PodOptions{NodeSelector: map[string]string{v1alpha1.OperatingSystemLabelKey: "unknown"}}),
+				test.PendingPod(test.PodOptions{NodeSelector: map[string]string{v1alpha2.OperatingSystemLabelKey: "unknown"}}),
 			}
 			ExpectCreatedWithStatus(env.Client, schedulable...)
 			ExpectCreatedWithStatus(env.Client, coschedulable...)
diff --git a/pkg/controllers/controller.go b/pkg/controllers/controller.go
index d72b2477e75b..cc14d2dd40d6 100644
--- a/pkg/controllers/controller.go
+++ b/pkg/controllers/controller.go
@@ -46,16 +46,12 @@ func (c *GenericController) Reconcile(ctx context.Context, req reconcile.Request
 	}
 	// 2. Copy object for merge patch base
 	persisted := resource.DeepCopyObject()
-	// 3. Set defaults to enforce invariants on object being reconciled
-	if _, ok := resource.(apis.Defaultable); ok {
-		resource.(apis.Defaultable).SetDefaults(ctx)
-	}
-	// 4. Reconcile
+	// 3. Reconcile
 	result, err := c.Controller.Reconcile(ctx, resource)
 	if err != nil {
 		zap.S().Errorf("Controller failed to reconcile kind %s, %s", resource.GetObjectKind().GroupVersionKind().Kind, err.Error())
 	}
-	// 5. Set status based on results of reconcile
+	// 4. Set status based on results of reconcile
 	if conditionsAccessor, ok := resource.(apis.ConditionsAccessor); ok {
 		m := apis.NewLivingConditionSet(conditions.Active).Manage(conditionsAccessor)
 		if err != nil {
@@ -64,7 +60,7 @@ func (c *GenericController) Reconcile(ctx context.Context, req reconcile.Request
 			m.MarkTrue(conditions.Active)
 		}
 	}
-	// 6. Update Status using a merge patch
+	// 5. Update Status using a merge patch
 	// If the controller is reconciling nodes, don't patch
 	if _, ok := resource.(*v1.Node); !ok {
 		if err := c.Status().Patch(ctx, resource, client.MergeFrom(persisted)); err != nil {
diff --git a/pkg/controllers/provisioning/v1alpha1/reallocation/controller.go b/pkg/controllers/reallocation/controller.go
similarity index 88%
rename from pkg/controllers/provisioning/v1alpha1/reallocation/controller.go
rename to pkg/controllers/reallocation/controller.go
index 24bdd81b651b..a650ab2e5249 100644
--- a/pkg/controllers/provisioning/v1alpha1/reallocation/controller.go
+++ b/pkg/controllers/reallocation/controller.go
@@ -19,7 +19,7 @@ import (
 	"fmt"
 	"time"
 
-	"github.com/awslabs/karpenter/pkg/apis/provisioning/v1alpha1"
+	"github.com/awslabs/karpenter/pkg/apis/provisioning/v1alpha2"
 	"github.com/awslabs/karpenter/pkg/cloudprovider"
 
 	corev1 "k8s.io/client-go/kubernetes/typed/core/v1"
@@ -35,7 +35,7 @@ type Controller struct {
 
 // For returns the resource this controller is for.
 func (c *Controller) For() client.Object {
-	return &v1alpha1.Provisioner{}
+	return &v1alpha2.Provisioner{}
 }
 
 func (c *Controller) Interval() time.Duration {
@@ -56,7 +56,11 @@ func NewController(kubeClient client.Client, coreV1Client corev1.CoreV1Interface
 
 // Reconcile executes a reallocation control loop for the resource
 func (c *Controller) Reconcile(ctx context.Context, object client.Object) (reconcile.Result, error) {
-	provisioner := object.(*v1alpha1.Provisioner)
+	provisioner := object.(*v1alpha2.Provisioner)
+	// Skip reconciliation if utilization ttl is not defined.
+	if provisioner.Spec.TTLSecondsAfterEmpty == nil {
+		return reconcile.Result{}, nil
+	}
 	// 1. Set TTL on TTLable Nodes
 	if err := c.utilization.markUnderutilized(ctx, provisioner); err != nil {
 		return reconcile.Result{}, fmt.Errorf("adding ttl and underutilized label, %w", err)
diff --git a/pkg/controllers/provisioning/v1alpha1/reallocation/suite_test.go b/pkg/controllers/reallocation/suite_test.go
similarity index 77%
rename from pkg/controllers/provisioning/v1alpha1/reallocation/suite_test.go
rename to pkg/controllers/reallocation/suite_test.go
index 79f8289a55da..877a74002c08 100644
--- a/pkg/controllers/provisioning/v1alpha1/reallocation/suite_test.go
+++ b/pkg/controllers/reallocation/suite_test.go
@@ -21,13 +21,14 @@ import (
 	"time"
 
 	"github.com/Pallinder/go-randomdata"
-	"github.com/awslabs/karpenter/pkg/apis/provisioning/v1alpha1"
+	"github.com/awslabs/karpenter/pkg/apis/provisioning/v1alpha2"
 	"github.com/awslabs/karpenter/pkg/cloudprovider/fake"
 	"github.com/awslabs/karpenter/pkg/cloudprovider/registry"
 	"github.com/awslabs/karpenter/pkg/test"
 	v1 "k8s.io/api/core/v1"
 	metav1 "k8s.io/apimachinery/pkg/apis/meta/v1"
 	corev1 "k8s.io/client-go/kubernetes/typed/core/v1"
+	"knative.dev/pkg/ptr"
 
 	. "github.com/awslabs/karpenter/pkg/test/expectations"
 	. "github.com/onsi/ginkgo"
@@ -61,16 +62,17 @@ var _ = AfterSuite(func() {
 })
 
 var _ = Describe("Reallocation", func() {
-	var provisioner *v1alpha1.Provisioner
+	var provisioner *v1alpha2.Provisioner
 	var ctx context.Context
 
 	BeforeEach(func() {
-		provisioner = &v1alpha1.Provisioner{
+		provisioner = &v1alpha2.Provisioner{
 			ObjectMeta: metav1.ObjectMeta{Name: strings.ToLower(randomdata.SillyName()),
 				Namespace: "default",
 			},
-			Spec: v1alpha1.ProvisionerSpec{
-				Cluster: &v1alpha1.ClusterSpec{Name: "test-cluster", Endpoint: "http://test-cluster", CABundle: "dGVzdC1jbHVzdGVyCg=="},
+			Spec: v1alpha2.ProvisionerSpec{
+				Cluster:              &v1alpha2.Cluster{Name: "test-cluster", Endpoint: "http://test-cluster", CABundle: "dGVzdC1jbHVzdGVyCg=="},
+				TTLSecondsAfterEmpty: ptr.Int64(300),
 			},
 		}
 		ctx = context.Background()
@@ -84,8 +86,8 @@ var _ = Describe("Reallocation", func() {
 		It("should label nodes as underutilized and add TTL", func() {
 			node := test.NodeWith(test.NodeOptions{
 				Labels: map[string]string{
-					v1alpha1.ProvisionerNameLabelKey:      provisioner.Name,
-					v1alpha1.ProvisionerNamespaceLabelKey: provisioner.Namespace,
+					v1alpha2.ProvisionerNameLabelKey:      provisioner.Name,
+					v1alpha2.ProvisionerNamespaceLabelKey: provisioner.Namespace,
 				},
 			})
 			ExpectCreatedWithStatus(env.Client, node)
@@ -95,18 +97,18 @@ var _ = Describe("Reallocation", func() {
 
 			updatedNode := &v1.Node{}
 			Expect(env.Client.Get(ctx, client.ObjectKey{Name: node.Name}, updatedNode)).To(Succeed())
-			Expect(updatedNode.Labels).To(HaveKey(v1alpha1.ProvisionerUnderutilizedLabelKey))
-			Expect(updatedNode.Annotations).To(HaveKey(v1alpha1.ProvisionerTTLKey))
+			Expect(updatedNode.Labels).To(HaveKey(v1alpha2.ProvisionerUnderutilizedLabelKey))
+			Expect(updatedNode.Annotations).To(HaveKey(v1alpha2.ProvisionerTTLKey))
 		})
 		It("should remove labels from utilized nodes", func() {
 			node := test.NodeWith(test.NodeOptions{
 				Labels: map[string]string{
-					v1alpha1.ProvisionerNameLabelKey:          provisioner.Name,
-					v1alpha1.ProvisionerNamespaceLabelKey:     provisioner.Namespace,
-					v1alpha1.ProvisionerUnderutilizedLabelKey: "true",
+					v1alpha2.ProvisionerNameLabelKey:          provisioner.Name,
+					v1alpha2.ProvisionerNamespaceLabelKey:     provisioner.Namespace,
+					v1alpha2.ProvisionerUnderutilizedLabelKey: "true",
 				},
 				Annotations: map[string]string{
-					v1alpha1.ProvisionerTTLKey: time.Now().Add(time.Duration(100) * time.Second).Format(time.RFC3339),
+					v1alpha2.ProvisionerTTLKey: time.Now().Add(time.Duration(100) * time.Second).Format(time.RFC3339),
 				},
 			})
 			pod := test.Pod(test.PodOptions{
@@ -124,8 +126,8 @@ var _ = Describe("Reallocation", func() {
 
 			updatedNode := &v1.Node{}
 			Expect(env.Client.Get(ctx, client.ObjectKey{Name: node.Name}, updatedNode)).To(Succeed())
-			Expect(updatedNode.Labels).ToNot(HaveKey(v1alpha1.ProvisionerUnderutilizedLabelKey))
-			Expect(updatedNode.Annotations).ToNot(HaveKey(v1alpha1.ProvisionerTTLKey))
+			Expect(updatedNode.Labels).ToNot(HaveKey(v1alpha2.ProvisionerUnderutilizedLabelKey))
+			Expect(updatedNode.Annotations).ToNot(HaveKey(v1alpha2.ProvisionerTTLKey))
 		})
 	})
 })
diff --git a/pkg/controllers/provisioning/v1alpha1/reallocation/utilization.go b/pkg/controllers/reallocation/utilization.go
similarity index 83%
rename from pkg/controllers/provisioning/v1alpha1/reallocation/utilization.go
rename to pkg/controllers/reallocation/utilization.go
index 97aee73e4b95..1a8fcf600897 100644
--- a/pkg/controllers/provisioning/v1alpha1/reallocation/utilization.go
+++ b/pkg/controllers/reallocation/utilization.go
@@ -19,7 +19,7 @@ import (
 	"fmt"
 	"time"
 
-	"github.com/awslabs/karpenter/pkg/apis/provisioning/v1alpha1"
+	"github.com/awslabs/karpenter/pkg/apis/provisioning/v1alpha2"
 	"github.com/awslabs/karpenter/pkg/utils/functional"
 	utilsnode "github.com/awslabs/karpenter/pkg/utils/node"
 	"github.com/awslabs/karpenter/pkg/utils/ptr"
@@ -32,7 +32,7 @@ type Utilization struct {
 	kubeClient client.Client
 }
 
-func (u *Utilization) Reconcile(ctx context.Context, provisioner *v1alpha1.Provisioner) error {
+func (u *Utilization) Reconcile(ctx context.Context, provisioner *v1alpha2.Provisioner) error {
 	// 1. Set TTL on TTLable Nodes
 	if err := u.markUnderutilized(ctx, provisioner); err != nil {
 		return fmt.Errorf("adding ttl and underutilized label, %w", err)
@@ -51,7 +51,7 @@ func (u *Utilization) Reconcile(ctx context.Context, provisioner *v1alpha1.Provi
 }
 
 // markUnderutilized adds a TTL to underutilized nodes
-func (u *Utilization) markUnderutilized(ctx context.Context, provisioner *v1alpha1.Provisioner) error {
+func (u *Utilization) markUnderutilized(ctx context.Context, provisioner *v1alpha2.Provisioner) error {
 	ttlable := []*v1.Node{}
 	// 1. Get all provisioner nodes
 	nodes, err := u.getNodes(ctx, provisioner, map[string]string{})
@@ -66,7 +66,7 @@ func (u *Utilization) markUnderutilized(ctx context.Context, provisioner *v1alph
 			return fmt.Errorf("getting pods for node %s, %w", node.Name, err)
 		}
 		if utilsnode.IsUnderutilized(node, pods) {
-			if _, ok := node.Annotations[v1alpha1.ProvisionerTTLKey]; !ok {
+			if _, ok := node.Annotations[v1alpha2.ProvisionerTTLKey]; !ok {
 				ttlable = append(ttlable, node)
 			}
 		}
@@ -77,11 +77,11 @@ func (u *Utilization) markUnderutilized(ctx context.Context, provisioner *v1alph
 		persisted := node.DeepCopy()
 		node.Labels = functional.UnionStringMaps(
 			node.Labels,
-			map[string]string{v1alpha1.ProvisionerUnderutilizedLabelKey: "true"},
+			map[string]string{v1alpha2.ProvisionerUnderutilizedLabelKey: "true"},
 		)
 		node.Annotations = functional.UnionStringMaps(
 			node.Annotations,
-			map[string]string{v1alpha1.ProvisionerTTLKey: time.Now().Add(time.Duration(*provisioner.Spec.TTLSeconds) * time.Second).Format(time.RFC3339)},
+			map[string]string{v1alpha2.ProvisionerTTLKey: time.Now().Add(time.Duration(ptr.Int64Value(provisioner.Spec.TTLSecondsAfterEmpty)) * time.Second).Format(time.RFC3339)},
 		)
 		if err := u.kubeClient.Patch(ctx, node, client.MergeFrom(persisted)); err != nil {
 			return fmt.Errorf("patching node %s, %w", node.Name, err)
@@ -92,9 +92,9 @@ func (u *Utilization) markUnderutilized(ctx context.Context, provisioner *v1alph
 }
 
 // clearUnderutilized removes the TTL on underutilized nodes if there is sufficient resource usage
-func (u *Utilization) clearUnderutilized(ctx context.Context, provisioner *v1alpha1.Provisioner) error {
+func (u *Utilization) clearUnderutilized(ctx context.Context, provisioner *v1alpha2.Provisioner) error {
 	// 1. Get underutilized nodes
-	nodes, err := u.getNodes(ctx, provisioner, map[string]string{v1alpha1.ProvisionerUnderutilizedLabelKey: "true"})
+	nodes, err := u.getNodes(ctx, provisioner, map[string]string{v1alpha2.ProvisionerUnderutilizedLabelKey: "true"})
 	if err != nil {
 		return fmt.Errorf("listing labeled underutilized nodes, %w", err)
 	}
@@ -108,8 +108,8 @@ func (u *Utilization) clearUnderutilized(ctx context.Context, provisioner *v1alp
 
 		if !utilsnode.IsUnderutilized(node, pods) {
 			persisted := node.DeepCopy()
-			delete(node.Labels, v1alpha1.ProvisionerUnderutilizedLabelKey)
-			delete(node.Annotations, v1alpha1.ProvisionerTTLKey)
+			delete(node.Labels, v1alpha2.ProvisionerUnderutilizedLabelKey)
+			delete(node.Annotations, v1alpha2.ProvisionerTTLKey)
 			if err := u.kubeClient.Patch(ctx, node, client.MergeFrom(persisted)); err != nil {
 				zap.S().Debugf("Could not remove underutilized labels on node %s, %w", node.Name, err)
 			} else {
@@ -121,9 +121,9 @@ func (u *Utilization) clearUnderutilized(ctx context.Context, provisioner *v1alp
 }
 
 // terminateExpired checks if a node is past its ttl and marks it
-func (u *Utilization) terminateExpired(ctx context.Context, provisioner *v1alpha1.Provisioner) error {
+func (u *Utilization) terminateExpired(ctx context.Context, provisioner *v1alpha2.Provisioner) error {
 	// 1. Get underutilized nodes
-	nodes, err := u.getNodes(ctx, provisioner, map[string]string{v1alpha1.ProvisionerUnderutilizedLabelKey: "true"})
+	nodes, err := u.getNodes(ctx, provisioner, map[string]string{v1alpha2.ProvisionerUnderutilizedLabelKey: "true"})
 	if err != nil {
 		return fmt.Errorf("listing underutilized nodes, %w", err)
 	}
@@ -140,11 +140,11 @@ func (u *Utilization) terminateExpired(ctx context.Context, provisioner *v1alpha
 }
 
 // getNodes returns a list of nodes with the provisioner's labels and given labels
-func (u *Utilization) getNodes(ctx context.Context, provisioner *v1alpha1.Provisioner, additionalLabels map[string]string) ([]*v1.Node, error) {
+func (u *Utilization) getNodes(ctx context.Context, provisioner *v1alpha2.Provisioner, additionalLabels map[string]string) ([]*v1.Node, error) {
 	nodes := &v1.NodeList{}
 	if err := u.kubeClient.List(ctx, nodes, client.MatchingLabels(functional.UnionStringMaps(map[string]string{
-		v1alpha1.ProvisionerNameLabelKey:      provisioner.Name,
-		v1alpha1.ProvisionerNamespaceLabelKey: provisioner.Namespace,
+		v1alpha2.ProvisionerNameLabelKey:      provisioner.Name,
+		v1alpha2.ProvisionerNamespaceLabelKey: provisioner.Namespace,
 	}, additionalLabels))); err != nil {
 		return nil, fmt.Errorf("listing nodes, %w", err)
 	}
diff --git a/pkg/controllers/terminating/v1alpha1/controller.go b/pkg/controllers/termination/controller.go
similarity index 98%
rename from pkg/controllers/terminating/v1alpha1/controller.go
rename to pkg/controllers/termination/controller.go
index 95fc8afa67e1..69661986c71a 100644
--- a/pkg/controllers/terminating/v1alpha1/controller.go
+++ b/pkg/controllers/termination/controller.go
@@ -12,13 +12,13 @@ See the License for the specific language governing permissions and
 limitations under the License.
 */
 
-package v1alpha1
+package termination
 
 import (
 	"context"
 	"fmt"
 
-	provisioning "github.com/awslabs/karpenter/pkg/apis/provisioning/v1alpha1"
+	provisioning "github.com/awslabs/karpenter/pkg/apis/provisioning/v1alpha2"
 	"github.com/awslabs/karpenter/pkg/cloudprovider"
 	"github.com/awslabs/karpenter/pkg/utils/functional"
 
diff --git a/pkg/controllers/terminating/v1alpha1/suite_test.go b/pkg/controllers/termination/suite_test.go
similarity index 89%
rename from pkg/controllers/terminating/v1alpha1/suite_test.go
rename to pkg/controllers/termination/suite_test.go
index a098bb2c6886..6482ee9a3600 100644
--- a/pkg/controllers/terminating/v1alpha1/suite_test.go
+++ b/pkg/controllers/termination/suite_test.go
@@ -12,13 +12,13 @@ See the License for the specific language governing permissions and
 limitations under the License.
 */
 
-package v1alpha1
+package termination
 
 import (
 	"context"
 	"testing"
 
-	"github.com/awslabs/karpenter/pkg/apis/provisioning/v1alpha1"
+	"github.com/awslabs/karpenter/pkg/apis/provisioning/v1alpha2"
 	"github.com/awslabs/karpenter/pkg/cloudprovider/fake"
 	"github.com/awslabs/karpenter/pkg/cloudprovider/registry"
 	"github.com/awslabs/karpenter/pkg/test"
@@ -68,10 +68,10 @@ var _ = Describe("Termination", func() {
 	Context("Reconciliation", func() {
 		It("should terminate deleted nodes", func() {
 			node := test.NodeWith(test.NodeOptions{
-				Finalizers: []string{v1alpha1.KarpenterFinalizer},
+				Finalizers: []string{v1alpha2.KarpenterFinalizer},
 				Labels: map[string]string{
-					v1alpha1.ProvisionerNameLabelKey:      "default",
-					v1alpha1.ProvisionerNamespaceLabelKey: "default",
+					v1alpha2.ProvisionerNameLabelKey:      "default",
+					v1alpha2.ProvisionerNamespaceLabelKey: "default",
 				},
 			})
 			ExpectCreatedWithStatus(env.Client, node)
diff --git a/pkg/controllers/terminating/v1alpha1/terminate.go b/pkg/controllers/termination/terminate.go
similarity index 99%
rename from pkg/controllers/terminating/v1alpha1/terminate.go
rename to pkg/controllers/termination/terminate.go
index 5c681acf2557..a454ded768d1 100644
--- a/pkg/controllers/terminating/v1alpha1/terminate.go
+++ b/pkg/controllers/termination/terminate.go
@@ -12,13 +12,13 @@ See the License for the specific language governing permissions and
 limitations under the License.
 */
 
-package v1alpha1
+package termination
 
 import (
 	"context"
 	"fmt"
 
-	provisioning "github.com/awslabs/karpenter/pkg/apis/provisioning/v1alpha1"
+	provisioning "github.com/awslabs/karpenter/pkg/apis/provisioning/v1alpha2"
 	"github.com/awslabs/karpenter/pkg/cloudprovider"
 	"github.com/awslabs/karpenter/pkg/utils/functional"
 	"github.com/awslabs/karpenter/pkg/utils/pod"
diff --git a/pkg/packing/packer.go b/pkg/packing/packer.go
index 10386f260b3d..356aef698336 100644
--- a/pkg/packing/packer.go
+++ b/pkg/packing/packer.go
@@ -19,7 +19,7 @@ import (
 	"math"
 	"sort"
 
-	"github.com/awslabs/karpenter/pkg/apis/provisioning/v1alpha1"
+	"github.com/awslabs/karpenter/pkg/apis/provisioning/v1alpha2"
 	"github.com/awslabs/karpenter/pkg/cloudprovider"
 	"github.com/awslabs/karpenter/pkg/utils/apiobject"
 	"github.com/awslabs/karpenter/pkg/utils/resources"
@@ -36,7 +36,7 @@ var (
 // Constraints for an efficient binpacking solution of pods onto nodes, given
 // overhead and node constraints.
 type Constraints struct {
-	*v1alpha1.Constraints
+	*v1alpha2.Constraints
 	// Pods is a list of equivalently schedulable pods to be binpacked.
 	Pods []*v1.Pod
 	// Daemons resources per node.
diff --git a/pkg/test/expectations/expectations.go b/pkg/test/expectations/expectations.go
index 6c41c1c2a816..278984c95096 100644
--- a/pkg/test/expectations/expectations.go
+++ b/pkg/test/expectations/expectations.go
@@ -19,7 +19,7 @@ import (
 	"fmt"
 	"time"
 
-	"github.com/awslabs/karpenter/pkg/apis/provisioning/v1alpha1"
+	"github.com/awslabs/karpenter/pkg/apis/provisioning/v1alpha2"
 	"github.com/awslabs/karpenter/pkg/utils/conditions"
 	"github.com/awslabs/karpenter/pkg/utils/log"
 
@@ -92,7 +92,7 @@ func ExpectDeleted(c client.Client, objects ...client.Object) {
 	}
 }
 
-func ExpectEventuallyHappy(c client.Client, provisioner *v1alpha1.Provisioner) {
+func ExpectEventuallyHappy(c client.Client, provisioner *v1alpha2.Provisioner) {
 	nn := types.NamespacedName{Name: provisioner.GetName(), Namespace: provisioner.GetNamespace()}
 	Eventually(func() bool {
 		Expect(c.Get(context.Background(), nn, provisioner)).To(Succeed())
@@ -102,7 +102,7 @@ func ExpectEventuallyHappy(c client.Client, provisioner *v1alpha1.Provisioner) {
 	})
 }
 
-func ExpectEventuallyReconciled(c client.Client, provisioner *v1alpha1.Provisioner) {
+func ExpectEventuallyReconciled(c client.Client, provisioner *v1alpha2.Provisioner) {
 	nn := types.NamespacedName{Name: provisioner.GetName(), Namespace: provisioner.GetNamespace()}
 	Eventually(func() bool {
 		Expect(c.Get(context.Background(), nn, provisioner)).To(Succeed())
@@ -124,14 +124,14 @@ func ExpectCleanedUp(c client.Client) {
 	for _, node := range nodes.Items {
 		ExpectDeletedNode(c, &node)
 	}
-	provisioners := v1alpha1.ProvisionerList{}
+	provisioners := v1alpha2.ProvisionerList{}
 	Expect(c.List(ctx, &provisioners)).To(Succeed())
 	for _, provisioner := range provisioners.Items {
 		ExpectDeleted(c, &provisioner)
 	}
 }
 
-func AttemptProvisioning(c client.Client, provisioner *v1alpha1.Provisioner, pod *v1.Pod) *v1.Pod {
+func AttemptProvisioning(c client.Client, provisioner *v1alpha2.Provisioner, pod *v1.Pod) *v1.Pod {
 	ExpectCreatedWithStatus(c, pod)
 	ExpectCreated(c, provisioner)
 	ExpectEventuallyReconciled(c, provisioner)
diff --git a/pkg/utils/node/predicates.go b/pkg/utils/node/predicates.go
index 9057094370f8..29eccedefbec 100644
--- a/pkg/utils/node/predicates.go
+++ b/pkg/utils/node/predicates.go
@@ -17,7 +17,7 @@ package node
 import (
 	"time"
 
-	"github.com/awslabs/karpenter/pkg/apis/provisioning/v1alpha1"
+	"github.com/awslabs/karpenter/pkg/apis/provisioning/v1alpha2"
 	"github.com/awslabs/karpenter/pkg/utils/pod"
 	v1 "k8s.io/api/core/v1"
 )
@@ -32,7 +32,7 @@ func IsReadyAndSchedulable(node v1.Node) bool {
 }
 
 func IsPastTTL(node *v1.Node) bool {
-	ttl, ok := node.Annotations[v1alpha1.ProvisionerTTLKey]
+	ttl, ok := node.Annotations[v1alpha2.ProvisionerTTLKey]
 	if !ok {
 		return false
 	}
diff --git a/pkg/utils/ptr/ptr.go b/pkg/utils/ptr/ptr.go
index 4e79344ef31d..29a78ff12680 100644
--- a/pkg/utils/ptr/ptr.go
+++ b/pkg/utils/ptr/ptr.go
@@ -39,3 +39,10 @@ func PodListToSlice(pods *v1.PodList) []*v1.Pod {
 	}
 	return podPointers
 }
+
+func Int64Value(ptr *int64) int64 {
+	if ptr == nil {
+		return 0
+	}
+	return *ptr
+}