Exhibit 10.2

 

GRAPHIC [g19711kii001.jpg]

Worldwide Headquarters

20 Trafalgar Square

Nashua, NH 03063

 

Phone:   +1 603.883.5200

Fax:   +1 603.595.6993

www.gtat.com

 

December 31, 2012

 

Tom Gutierrez

43 Powers Road

Hollis, NH 03049

 

Dear Tom:

 

The Compensation Committee of the Board of Directors has approved a payment of
your costs of establishing a secondary residence in Raleigh, North Carolina,
subject to the terms set forth below.  It is understood that you will maintain
your primary residence in New Hampshire.

 

1.              The Company will pay the following amounts:

 

(a) Real Estate Fees

 

$

140,000

 

(b) Moving Costs

 

$

40,000

 

(c) Temporary Living, Travel and Miscellaneous

 

$

50,000

 

(d) Partial Gross-up of Non-deductible portion

 

$

70,000

 

Total

 

$

300,000

 

 

2.              The total amount set forth in section 1 above shall be paid in
one lump sum on the date of this letter, less any applicable withholding taxes.

 

3.              You will repay to the Company a portion of the amount paid to
you pursuant to this letter in the event that you voluntarily terminate your
employment with the Company on or before December 31, 2015, such amount to be
calculated by multiplying the number of days from the date of such termination
until December 31, 2015 by $274.

 

--------------------------------------------------------------------------------

 

Kindly indicate your agreement with the terms of this letter by signing in the
space provided below.

 

 

 

Very truly yours,

 

 

 

 

 

GT ADVANCED TECHNOLOGIES INC.

 

 

 

 

 

BY:

/s/ Hoil Kim

 

 

Hoil Kim,

 

 

Chief Administrative Officer and

 

 

General Counsel

 

 

 

 

ACKNOWLEDGED AND AGREED:

 

 

 

 

 

/s/ Tom Gutierrez

 

Tom Gutierrez

 

 

GT Advanced Technologies

20 Trafalgar Square

Nashua, NH 03063

 

Phone:    +1 603.883.5200

Fax:        +1 603.595.6993

 

www.gtat.com

 

--------------------------------------------------------------------------------