EXHIBIT 10.42
***CONFIDENTIAL TREATMENT REQUESTED: Certain portions of this document have been
omitted pursuant to a request for confidential treatment and, where applicable,
have been marked with an asterisk (“[****]”) to denote where omissions have been
made. The confidential material has been filed separately with the Securities
and Exchange Commission.***
FIRST AMENDMENT TO SUPPLY AGREEMENT
THIS FIRST AMENDMENT TO THE SUPPLY AGREEMENT (this “First Amendment”) is made
and entered into as of October 2, 2009 (the “Signing Date”) by and between
EVERGREEN SOLAR, INC., a Delaware Corporation, having its registered office at:
138 Bartlett Street, Marlborough, MA, U.S.A. represented by Richard Chleboski
(hereinafter “ESLR”), and SOLARICOS TRADING, LTD., a company organized and
existing under the laws of Cyprus, having its registered office at 70 JF Kennedy
Avenue, Papabasiliou House, 151 Floor, Nicosia 1076. Cyprus, represented by
Director Khomchenko Evgenia, acting on the bases of the Articles of Association
(hereinafter “NITOL”), for the purpose of amending and supplementing the Supply
Agreement dated October 24, 2007 that was entered into by the Parties (the
“Original Agreement”). Each of ESLR and Nitol is referred to herein individually
as a “Party” and collectively as “Parties”.
Now, therefore, in consideration of mutual covenants contained herein and for
other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the Parties agree as follows:

  1.   Amendment to Section 2.1. Section 2.1 of the Original Agreement is hereby
amended by deleting such section in its entirety and replacing it with the
following:

  2.1   Starting on the First Shipment Date and each Year during the term of
this Agreement thereafter, ESLR agrees to purchase and accept delivery from
NITOL, and NITOL agrees to sell to ESLR, the Annual Quantity of Product as
determined in accordance with Appendix I to this Agreement (as such Appendix may
be adjusted in accordance with Section 5.5 below, the “Pricing Schedule”), at
the prices as determined in accordance with Appendix I. This Agreement
constitutes a firm order from ESLR to purchase and a firm commitment for NITOL
to supply a minimum of [****] metric tons and a maximum of [****] metric tons of
Product, as such amount may be determined in accordance with the provisions of
this Agreement and Appendix I, that cannot be cancelled during the term of this
agreement except as set forth in Section 9 below.

  2.   Amendment to Section 4.1. Section 4.1 of the Original Agreement is hereby
amended by deleting such section in its entirety and replacing it with the
following:

  4.1   The first shipment is due to be shipped on or after [****] as agreed by
the Parties but no later than [****], 2009.

 

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  3.   Amendment to Section 5.2. Section 5.2 of the Original Agreement is hereby
amended by deleting such section in its entirety and replacing it with the
following:

  5.2   Within fifteen (15) Business days after the Effective Date, ESLR shall
provide NITOL a deposit of Ten Million U.S. Dollars ($10,000,000) with a further
deposit payment of Five Million U.S. Dollars ($5,000,000) within 15 days of the
[****] (together the “Deposit”) as advance payment for Products to be delivered
under this Agreement. The Deposit shall be divided by the minimum volume of
Product to be shipped and accepted in any given Year such that the Deposit is
credited as payment for shipments according to the table below:

                                              Credit per Year   Deposit Credited
  Minimum Volume   Kilogram
2009
  $ [****]       [****]     $ [****]  
2010
  $ [****]       [****]     $ [****]  
2011
  $ [****]       [****]     $ [****]  
2012
  $ [****]       [****]     $ [****]  
2013
  $ [****]       [****]     $ [****]  
2014
  $ [****]       [****]     $ [****]                
Total
  $ [****]       [****]     $ [****]                

The total dollar value shall be credited each Year and shall be applied ratably
to the first quantity of Product shipped and accepted up to the minimum volume
in any Year. If for any reason the minimum volume is not shipped and accepted
the credit will be applied, in addition to the credit outlined above for the
subsequent Year, to the first volumes shipped in the following Year. In all
cases the total credit to be provided shall equal $15,000,000.

  4.   Amendment to Appendix I. Appendix I to the Original Agreement is hereby
amending by deleting such appendix in its entirety and replacing it with
Appendix 1 attached hereto.     5.   Definitions. All terms used, but not
defined, in this First Amendment shall have the respective meanings set forth in
the Original Agreement.     6.   Headings; Interpretation. The section headings
in this First Amendment are inserted for convenience only and shall not affect
in any way the meaning or interpretation of this First Amendment. The Parties
hereby acknowledge and agree that this First Amendment has been prepared jointly
and no rule of strict construction shall be applied against either Party. In
this First Amendment, the singular shall include the plural and vice versa and
the word “including” shall be deemed to be followed by the phrase “without
limitation”. The terms “herein” and “hereunder” and similar terms shall be
interpreted to refer to this entire First Amendment.

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  7.   Effective Date of Amendment; Incorporation of Terms; Continuing Effect.
This First Amendment shall be deemed effective for all purposes as of the
Signing Date of this First Amendment. All of the amended provisions set forth in
this First Amendment shall be deemed to be incorporated in. and made a part of,
the Original Agreement, and the Original Agreement, as amended by this First
Amendment shall be read, taken and construed as one and the same agreement.
Except as modified or supplemented herein the Original Agreement shall remain in
full force and effect as set forth therein. Upon execution of this First
Amendment the Parties each hereby irrevocably and unconditionally agree to
release and forever discharge the other Parties, including all of the other
Parties’ affiliates, predecessors, successors, assigns or subsidiaries, or any
of their directors, supervisors, officers or employees, from any and all
liabilities and obligations of any nature, whether past. present, future or
contingent, whether due or incurred, known or unknown, including without
limitation all claims, debts, demands, causes of action, duties, sums of money,
covenants, contracts, controversies. agreements, promises, doings, omissions,
damages, judgments, costs, expenses and losses arising out of and/or in
connection with or related to the Original Agreement, it being the intention of
all the Parties that the Original Agreement as amended by this First Amendment
shall operate as a full and final settlement of all past, current and future
liability whatsoever between all the Parties arising out of and/or in connection
with the Original Agreement.     8.   Counterparts. This First Amendment is
executed in the English simultaneously in two identical original counterparts,
each of which shall be deemed an original. but all of which together shall
constitute one and the same instrument. Both counterparts have equal force and
validity.

[signatures next page]

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IN WITNESS WHEREOF, the Parties, intending to be bound, have caused this
Amendment to be executed on their behalf by their duly authorized representative
as of the day and year first above written.

           
ESLR:
  NITOL:  
 
       
EVERGREEN SOLAR, INC.
  SOLARICOS TRADING, LTD.    
 
           
By:  
/s/ Richard G. Chleboski   By:   /s/ Khomchenko Evgenia      
Name: Richard G. Chleboski
    Name: Khomchenko Evgenia      
Title: Vice President
    Title: Director      
Authorized Signatory
    Authorized Signatory    

 

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Appendix I
Pricing Schedule

                                                              2009   2010   2011
  2012   2013   2014   TOTALS
Fixed Price, $
  $ [****]     $ [****]     $ [****]     $ [****]     $ [****]     $ [****]    
     
Fixed Price Volume, MT
    [****]       [****]       [****]       [****]       [****]       [****]    
  [****]  
Prepayment Return, M$
  $ [****]     $ [****]     $ [****]     $ [****]     $ [****]     $ [****]    
$ [****]  
Variable Max Price, $
                  $ [****]     $ [****]     $ [****]     $ [****]          
Variable Min Price, $
                  $ [****]     $ [****]     $ [****]     $ [****]          
Variable Price volumes, MT
                    [****]       [****]       [****]       [****]       [****]  
 
                           
Total Volumes, MT
    [****]       [****]       [****]       [****]       [****]       [****]    
  [****]  
 
                           

[****]