Exhibit 10.6


 


GT SOLAR INTERNATIONAL, INC.


 


RESTRICTED STOCK UNIT AGREEMENT


 


THIS
RESTRICTED STOCK UNIT AGREEMENT (this “Agreement”) is made as of January       ,
2009, by and between GT Solar International, Inc., a Delaware corporation
(the “Company”), and
[                                    ]
(“Employee”), in accordance with the 2008 Equity Incentive Plan of the
Company, as the same may be amended from time to time (the “Plan”).  Certain definitions are set forth in Section 7
of this Agreement.


 


On
[                                    ],
the Company granted to Employee [                                    ]
restricted stock units (the “RSUs”) under the Plan.  Each RSU entitles Employee to receive from
the Company one share of the Company’s common stock, par value $.01 per share
(“Common Stock”) for each RSU granted hereunder that becomes vested
under the terms described herein and in the Plan.  All of such shares of Common Stock that may
hereafter be delivered to Employee pursuant to this Agreement are referred to
herein as “Employee Stock.”


 


The parties
hereto agree as follows:


 


1.             Incorporation
by Reference; Plan Document Receipt. 
This Agreement is subject in all respects to the terms and provisions of
the Plan (including, without limitation, any amendments thereto adopted at any
time and from time to time unless such amendments are expressly intended not to
apply to the award provided hereunder), all of which terms and provisions are
made a part of and incorporated in this Agreement as if they were expressly set
forth herein.  Any capitalized term not
defined in this Agreement shall have the same meaning as is ascribed thereto in
the Plan.  Employee hereby acknowledges
receipt of a true copy of the Plan and that Employee has read the Plan
carefully and fully understands its content. 
In the event of a conflict between the terms of this Agreement and the
terms of the Plan, the terms of the Plan shall control.


 


2.             Grant
of the RSUs.


 


(a)           The Company granted to Employee, as
of
[                                    ],
[                                    ]
RSUs, subject to the terms and conditions hereunder.  Employee agrees and understands that nothing
contained in this Agreement provides, or is intended to provide, Employee with
any protection against potential future dilution of Employee’s stockholder
interest in the Company for any reason. 
Employee shall not have the rights of a stockholder in respect of the
shares of Common Stock underlying these RSUs until such Common Stock is
delivered to the Participant in accordance with Section 4.


 


(b)           The grant of the RSUs by the Company
is subject to Employee’s execution and delivery of the attached Proprietary
Rights and Confidentiality Agreement between Employee and the Company (or, at
the discretion of the Board, a similar agreement containing such terms as the
Board, or a duly designated committee thereof, shall determine) (the “Employee
Confidentiality Agreement”), if Employee is not currently subject to such
an 


 

















 


agreement.  These RSUs and all shares of the Employee
Stock shall be subject to the terms and conditions of the Employee
Confidentiality Agreement or such similar agreement (whether executed in
connection herewith or prior to the date hereof).


 


(c)           In connection with the receipt of the
RSUs and the delivery of any Employee Stock hereunder, Employee represents and
warrants to, and agrees with, the Company that:


 


(i)            The RSUs and the
Employee Stock to be acquired by Employee pursuant to this Agreement shall be
acquired for Employee’s own account and not with a view to, or intention of,
distribution thereof in violation of the Securities Act, or any applicable
state securities laws, and the RSUs and the Employee Stock shall not be
disposed of in contravention of the Securities Act or any applicable state securities
laws.


 


(ii)           This Agreement
constitutes the legal, valid and binding obligation of Employee, enforceable in
accordance with its terms, and the execution, delivery and performance of this
Agreement by Employee do not and shall not conflict with, violate or cause a
breach of any agreement, contract or instrument to which Employee is a party or
any judgment, order or decree to which Employee is subject.


 


(iii)          Employee has not
taken any action that constitutes a conflict with, violation or breach of, and
the execution and delivery of this Agreement and the other agreements
contemplated hereby will not conflict with, violate or cause a breach of, any
noncompete, nonsolicitation or confidentiality agreement to which Employee is a
party or by which Employee is bound. 
Employee agrees to notify the Board of any matter (including, but not
limited to, any potential acquisition by the Company) which, to Employee’s
knowledge, might reasonably be expected to violate or cause a breach of any
such agreement.


 


(iv)          Employee is a
resident of the [State] [Commonwealth] of
[                                    ].


 


(v)           Employee has been
advised and encouraged in writing (via this Agreement) to consult with an
attorney and a tax advisor prior to signing this Agreement.


 


(d)           As an inducement to the Company to
issue any RSUs to Employee, and as a condition thereto, Employee acknowledges
and agrees that neither the issuance of the RSUs or the delivery of any
Employee Stock nor any provision contained herein shall entitle Employee to
employment with the Company or any of the Subsidiaries, or affect the right of
the Company or any of its Subsidiaries to terminate Employee’s employment at
any time, with or without cause.


 


(e)           The Company and Employee acknowledge
and agree that this Agreement has been executed and delivered, the RSUs have
been granted and any Employee Stock that may be delivered hereunder will be
delivered, in connection with and as a part of the compensation and incentive
arrangements between the Company (together with its Subsidiaries) and Employee.


 


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(f)            In connection with the issuance of
any Employee Stock hereunder, Employee hereby agrees and acknowledges that all
of the shares of the Employee Stock are subject in all respects to the terms of
this Agreement.


 


3.             Vesting.


 


(a)           Except as otherwise provided in this Section 3,
the RSUs shall become vested in accordance with the following schedule, if as
of each such date Employee has continuously served as an employee of the
Company (or any of its direct or indirect wholly-owned Subsidiaries, as
applicable) since the date hereof, such that, subject to the other terms and
conditions of this Agreement, all of the RSUs shall be vested on
[                                    ]:


 


	
  Date

  	
   

  	
  Percent of RSUs 

  Vested

  
	
  [                                    ]

  	
   

  	
  25%

  
	
  [                                    ]
  of each of the three years thereafter, up to and including
  [                                    ]

  	
   

  	
  Additional 25%

  



 


(b)           Except as otherwise provided in this Section 3,
if Employee’s employment with the Company (or any of its direct or indirect
wholly-owned Subsidiaries, as applicable)  terminates for any reason
(including upon the death or disability of Employee prior to the vesting of all
or any portion of the RSUs awarded under this Agreement), such unvested portion
of the RSUs shall immediately be cancelled and Employee (and Employee’s estate,
designated beneficiary or other legal representative) shall forfeit any rights
or interests in and with respect to any such RSUs.


 


4.             Delivery of Common Stock.  Subject to the terms of the Plan and Section 6
below, if the RSUs awarded by this Agreement become vested, the Company shall
promptly distribute to Employee the number of shares of Common Stock equal to
the number of the RSUs that so vested; provided that to the extent
required by Code Section 409A, delivery of shares of Common Stock upon a
Participant’s “separation from service” within the meaning of Code Section 409A shall be deferred until the six
month anniversary of such separation from service.  In connection with the delivery of the shares
of Common Stock pursuant to this Agreement, the Participant agrees to execute
any documents reasonably requested by the Company and provide therein customary
representations and warranties related to the receipt of such shares of Common
Stock.


 


5.             Certificates.  The shares of Employee Stock may be in
certificated or uncertificated form, as permitted by the Company’s Bylaws.


 


6.             Corporate Event.  In the event any dividend or distribution of
Common Stock, recapitalization, stock split, reverse stock split,
reorganization, merger, consolidation, split-up, spin-off, combination, change
of control or exchange of Common Stock or other securities of the Company, or
other corporate transaction or event affects the Common Stock 


 


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(each, a “Corporate Event”),
the Board shall, in such manner as it in good faith deems equitable, (i) adjust
any or all of the number of shares of Employee Stock or other securities of the
Company (or number and kind of other securities or property) subject to the
RSUs, or (ii) make provision for an immediate cash payment to Employee in
consideration for the cancellation of the RSUs.


 


7.             Definitions.


 


“Board”
means the Company’s Board of Directors.


 


“Securities
Act” means the Securities Act of 1933, as amended from time to time, and
the rules and regulations promulgated thereunder.


 


“Subsidiary”
means any corporation of which the Company owns securities having a majority of
the ordinary voting power in electing the board of directors directly or
through one or more subsidiaries.


 


8.             Notices.  Any notice provided for in this Agreement
must be in writing and must be either personally delivered, mailed by first
class mail (postage prepaid and return receipt requested) or sent by reputable
overnight courier service (charges prepaid) to the recipient at the address
below indicated:


 


To the Company:


 


GT Solar
International, Inc.

243 Daniel Webster Highway

Merrimack, New Hampshire 03054

Attention: General Counsel


 


To Employee:


 


[                                    ]


[                                    ]


[                                    ]


 


or such other address or to the
attention of such other person as the recipient party shall have specified by
prior written notice to the sending party. 
Any notice under this Agreement shall be deemed to have been given when
so delivered or sent or, if mailed, five days after deposit in the U.S. mail.


 


9.             General Provisions.


 


(a)           Transferability.  The RSUs shall not be transferable by
Employee other than by the laws of will or descent.  All provisions of this Agreement shall in any
event continue to apply to any RSU transferred as permitted by this Section 9(a),
and any transferee shall be bound by all provisions of this Agreement as and to
the same extent as Employee.  Any
transfer or attempted transfer of any RSUs in violation of any provision of
this Agreement shall be void, 


 


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and the Company shall not
record such transfer on its books or treat any purported transferee of such
RSUs as the owner of such stock for any purpose.


 


(b)           Withholding Taxes.  The Company shall be entitled to withhold
from any amounts due and payable by the Company and/or any of its Subsidiaries
to Employee the amount of any federal, state, local or other tax which, in the
opinion of the Company, is required to be withheld in connection with the
vesting of the RSUs, the delivery of shares of the Employee Stock or the
delivery of cash, securities or other property as provided in Section 6.  To the extent that the amounts available to
the Company for such withholding are insufficient, it shall be a condition to
the delivery or vesting, as applicable, of such shares of the Employee Stock
that Employee make arrangements satisfactory to the Company for the payment of
the balance of such taxes required to be withheld.  The Board, upon the written request of
Employee, in the Board’s sole discretion and pursuant to such procedures as it
may specify from time to time, may permit Employee to satisfy all or part of
the tax obligations in connection with the vesting of the RSUs or the delivery
of the shares of Employee Stock by (i) having the Company withhold
otherwise deliverable shares, or (ii) delivering to the Company shares
that have been held by Employee for at least six months, in each case having a
Fair Market Value (as defined in the Plan) equal to the amount sufficient to
satisfy such tax obligations.


 


(c)           Severability.  Whenever possible, each provision of this
Agreement shall be interpreted in such manner as to be effective and valid
under applicable law, but if any provision of this Agreement is held to be
invalid, illegal or unenforceable in any respect under any applicable law or rule in
any jurisdiction, such invalidity, illegality or unenforceability shall not
affect any other provision, but this Agreement shall be reformed, construed and
enforced in such jurisdiction as if such invalid, illegal or unenforceable
provision had never been contained herein.


 


(d)           Complete Agreement.  This Agreement, the Plan, those documents
expressly referred to herein and therein and other documents of even date
herewith embody the complete agreement and understanding among the parties and
supersede and preempt any prior understandings, agreements or representations
by or among the parties, written or oral, which may have related to the subject
matter hereof in any way.


 


(e)           Counterparts.  This Agreement may be executed in separate
counterparts, each of which is deemed to be an original and all of which taken
together constitute one and the same agreement.


 


(f)            Successors and Assigns.  Except as otherwise provided herein, this
Agreement shall bind and inure to the benefit of and be enforceable by
Employee, the Company and their respective successors and assigns (including
subsequent permitted holders of the RSUs or the Employee Stock); provided that
the rights and obligations of Employee under this Agreement shall not be
assignable except in connection with a permitted transfer of the Employee Stock
hereunder.


 


(g)           Choice of Law.  All questions concerning the construction,
validity, enforcement and interpretation of this Agreement and the exhibits
hereto shall be governed by, 


 


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and construed in accordance
with, the internal law, and not the law of conflicts, of the State of Delaware,
without giving effect to any choice of law or conflict of law rules or
provisions (whether of the State of Delaware or any other jurisdiction) that
would cause the application of the laws of any jurisdiction other than the
State of Delaware.


 


(h)           Remedies.  Each of the parties to this Agreement shall
be entitled to enforce its rights under this Agreement specifically, to recover
damages and costs (including reasonable attorney’s fees) caused by any breach
of any provision of this Agreement and to exercise all other rights existing in
its favor.  The parties hereto agree and
acknowledge that money damages would not be an adequate remedy for any breach
of the provisions of this Agreement and that any party shall be entitled to
specific performance and/or other injunctive relief from any court of law or
equity of competent jurisdiction (without posting any bond or deposit) in order
to enforce or prevent any violations of the provisions of this Agreement.


 


(i)            Amendment and Waiver.  The provisions of this Agreement may be
amended and waived only with the prior written consent of the Company and
Employee.


 


*      *     
*      *


 


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IN WITNESS
WHEREOF, the parties hereto have executed this Restricted Stock Unit Agreement
on the date first written above.


 


	
   

  	
  GT SOLAR
  INTERNATIONAL, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
                                                                          

  
	
   

  	
  [                                    ]

  



 


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