**Position Level** **Incentive Target**Level 4 50% of base salary (based on 100% attainment of CompanyPerformance Targets AND Corporate Strategic Goals)   Level 3 25% of base salary (based on 100% attainment of CompanyPerformance Targets AND Corporate Strategic Goals)   Level 2 10% of base salary (based on 100% attainment of CompanyPerformance Targets AND Corporate Strategic Goals)   Level 1 5% of base salary (based on 100% attainment of CompanyPerformance Targets AND Corporate Strategic Goals)Actual Management Incentive Plan payments can be more or less than the targeted amount based onCompany Performance Target Calculations and/or achievement of Corporate Strategic Goals anddepartmental objectives.All plan participants become eligible for bonus payout based on the attainment of CompanyPerformance Targets and the achievement of Corporate Strategic Goals. All plan participants mustbe performing at a “Meets Expectations” level or above, and must be employed by Evergreen Solar atthe time plan payments are made.**Company Performance Targets**Total Company performance for the purposes of this bonus plan will be determined by attainment offinancial, strategic and/or departmental objectives. Specific targets will be determined andcommunicated to plan participants on an annual basis.The CEO, in conjunction with the Board of Directors, reserves the right to amend or change CompanyPerformance Targets at any time during the plan year, if such a change is deemed to be in the bestinterest of Evergreen Solar, Inc.The CEO and the Board of Directors also reserve the right to make discretionary bonus payments toplan and non-plan participants, based on their contribution to Evergreen Solar goals andobjectives, regardless of the achievement of Company Performance Targets.**Company Strategic Objectives**As the company enters its next growth phase, we are cognizant that many factors beyond purefinancial measures will contribute to our overall success. As such, the Management Incentive Planpayouts will be calculated based on the attainment of financial targets as well as CorporateStrategic Goals and departmental objectives. Specific Corporate Strategic Goals will beestablished and communicated by the CEO, and must be executed by year-end in order for planparticipants to receive a bonus payout.
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**Establishment of Company Performance Targets and Departmental Objectives**The CEO will recommend financial performance targets for the coming year to the CompensationCommittee. He will also establish and gain necessary approvals relative to the Corporate StrategicGoals for the upcoming year. The Compensation Committee will set the coming year’s targets at thelast meeting of each calendar year or no later than the end of Q1.**Determination and Approval of Company Performance Results**The CEO will review Company performance with the Board of Directors and the Compensation Committeeat the first meeting of each calendar year. Upon approval from the Compensation Committee,Management Incentive Plan calculations will be initiated and payment will be made to eligibleparticipants.**Payment Timing**Awards will be paid in a lump sum as soon as practical following the Compensation Committee’sapproval of the Company’s performance results and departmental objective results, but not earlierthan January 1 and not later than March 15 of the year following the calendar year to which theawards relate (the “Applicable Period”). To the extent that an award is not paid within theApplicable Period but is paid by December 31 of the calendar year which includes the ApplicablePeriod, then it is intended that such payment shall be treated as made at a “specified time” (*i.e.*,the calendar year which includes the Applicable Period) for purposes of complying with Section 409Aof the Internal Revenue Code of 1986, as amended.
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