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First Amendment to Amended and
Restated
2000 Stock Option and Incentive Plan
The Evergreen
Solar, Inc. Amended and Restated 2000 Stock Option and Incentive
Plan (the “Plan”) is hereby amended as follows,
effective January 1, 2009, pursuant to a resolution adopted by
the Board of Directors at its meeting held December 16,
2008:
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1.
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The
final sentence of Section 7(f) is amended to read as
follows:
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After the grant
of a Performance Unit or Performance Share, the Board, in its sole
discretion, may reduce or waive any performance objective or other
vesting provisions for such Performance Unit or Performance Share
in the event of a Participant’s death or disability, or upon
the occurrence of an Acquisition (as defined in
Section 9(e)).
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2.
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The
following new section 10(g) is added to the Plan:
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(g) SECTION
409A REQUIREMENTS . Notwithstanding anything to the contrary in
this Plan or any Award agreement, the following provisions shall
apply to any payments and benefits otherwise payable to or provided
to a Participant under this Plan and any Award:
(i) For
purposes of Section 409A of the Code, each
“payment” (as defined by Section 409A of the Code)
made under this Plan or an Award shall be considered a
“separate payment.” In addition, for purposes of
Section 409A of the Code, payments shall be deemed exempt from the
definition of deferred compensation under Section 409A of the
Code to the fullest extent possible un
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