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Exhibit 4.4    
    

AMENDED AND RESTATED

GT SOLAR INTERNATIONAL, INC.

EMPLOYEE STOCKHOLDERS AGREEMENT  

        This Amended and Restated GT Solar International, Inc. Employee Stockholders Agreement (this "Agreement"),
dated as of July 1, 2008, is made and entered into by and among (i) GT Solar International, Inc., a Delaware corporation (the "Company"),
(ii) GT Solar Holdings, LLC, a Delaware limited liability company ("Holdings"), (iii) GT Solar Incorporated (f/k/a GT Equipment
Technologies, Inc.), a Delaware corporation (the "Operating Company") and (iii) each individual who executes a counterpart to this
Agreement, as well as any other person who acquires shares of the Company's common stock, par value $0.01 per share ("Common Stock"), pursuant to the
Company's Second Amended and Restated 2006 Stock Option Plan (the "Plan") whether or not such person executes a counterpart (each such person,
individually, an "Employee Stockholder" and collectively the "Employee Stockholders"). Holdings and the
Employee Stockholders are referred to collectively as the "Stockholders." This Agreement amends and restates that certain Employee Stockholders
Agreement, dated as of December 30, 2005 (the "Original Agreement"), of the Operating Company. 

        WHEREAS,
pursuant to the Agreement and Plan of Merger (the "Merger Agreement"), dated September 28, 2006, by and among the
Operating Company, GT Solar Merger Corp. and the Company, (i) the Operating Company became a wholly-owned subsidiary of the Company, (ii) each share of common stock of the Operating
Company, par value $0.01 ("Operating Company Stock"), was exchanged for one share of common stock of the Company, par value $0.01
("Common Stock"), and (iii) the Company agreed to assume any obligation of the Operating Company under the Original Agreement following the
consummation of the merger contemplated by the Merger Agreement, such that the stockholders of the Company shall be entitled to the same rights and subject to the same obligations that such
stockholders had with respect to the Operating Company under the Original Agreement immediately prior to such merger; 

        WHEREAS,
the board of directors and the sole stockholder of the Company deem it to be in the best interests of the Company to amend and restate the Original Agreement to reflect the
Company's assumption of the Operating Company's obligations under the Original Agreement as discussed above; and 

        NOW,
THEREFORE, the Original Agreement is hereby amended and restated as follows: 

        Pursuant
to the Plan, the Company may grant certain employees of the Company or of any subsidiary or affiliates of the Company options
("Options") to purchase shares of Common Stock (collectively, any shares of Common Stock acquired pursuant the Plan are referred to as
"Covered Shares"). Shares of the Company's Common Stock held by Holdings are referred to as "Holdings
Shares." 

        The
Company, Holdings, and the Employee Stockholders desire to enter into this Agreement for the purpose of limiting the manner and terms by which the Covered Shares may be transferred
and voted prior to the Termination Date (defined below) in order to promote the efficient management of the Company, to provide the Employee Stockholders and Holdings with rights in connection with
certain sales of Holdings Shares, and for the purpose, of setting forth other terms and conditions applicable to any Covered Shares. 

        1.    RESTRICTIONS ON TRANSFER; PERMITTED TRANSFERS.    

        1.1.    General.    No Employee Stockholder shall sell, transfer, assign, pledge, hypothecate, alienate, or otherwise
directly or indirectly dispose of or encumber (collectively, "Transfer") any interest in any Covered Shares (nor shall any Covered Shares or any
interest therein be subject to execution, attachment or similar process) prior to the Registration Date (as defined below), except (i) with the written consent of the Company, (ii) by
will or by operation of law, upon the death of an Employee Stockholder, to his or her estate or beneficiary, provided that such estate or beneficiary shall agree in 

 

writing
to be bound by all the provisions of this Agreement, or (iii) as specifically permitted or required hereunder. The Company may require, as a condition to any Transfer otherwise
permitted hereunder, that the Employee Stockholder who wishes to effect such Transfer provide the Company with such evidence, information, assurances and documentation as either of them may reasonably
require in order to assure compliance with any applicable securities or other law. Any attempted Transfer contrary to the provisions of this Agreement, and the levy of any execution, attachment or
similar process upon any Covered Shares, shall be null and void and without effect. 

        1.2.    Permitted Transfers.    Notwithstanding the restrictions on Transfer set forth in  Section 1.1 above, an Employee
Stockholder may transfer Covered Shares to a trust or trusts or another entity or entities as may be approved by
the "Committee" as that term is defined in the Plan, in the Committee's discretion) for the exclusive benefit of one or more members of his or her
Immediate Family (each
such trust or other entity, a "Family Transferee"), provided that, as a condition to any such Transfer, the Family Transferee acknowledges and agrees in
writing, in form and substance satisfactory to the Company, that the Covered Shares shall continue to be subject to all the terms and conditions of this Agreement and any other agreement between the
Company and the Employee Stockholder relating to the Covered Shares as if the Covered Shares continued to be held by the Employee Stockholder who originally acquired the same pursuant, to the Plan. As
used herein, the term "Immediate Family" means, with respect an Employee Stockholder, his or her children, grandchildren, parents, grandparents, spouse,
brother, sister and such other family relationships as may be specifically approved by the Committee. 

        Without
limiting the foregoing, if and to the extent that any spouse of any Employee Stockholder acquires any interest in any Covered Shares as marital property, quasimarital property,
individual property, property held pursuant to the augmented marital property estate, or otherwise, the Covered Shares (and any such interest therein) shall continue to be subject to all the terms and
conditions of this Agreement and any other agreement between the Company and the Employee Stockholder relating to the Covered Shares as if the Covered Shares continued to be held by the Employee
Stockholder who acquired the same pursuant to the Plan and, to the extent of any such interest, this Agreement and any such other agreement shall be binding on, and inure to the benefit of, the
spouse. The spouse of each Employee Stockholder who is married or becomes married during the term of this Agreement shall, as a condition to the right of the Employee Stockholder to acquire and retain
Covered Shares, confirm the foregoing by executing and delivering to the Company a Spousal Acknowledgment and Consent in the form attached as  Exhibit B. 

        Any
person (other than the Company or Holdings) who acquires Covered Shares pursuant to a Transfer permitted under this Agreement, whether pursuant to this  Section 1 or Section 2 below, is referred to as a "Permitted
Transferee." 

        2.    OPTIONS UPON PROPOSED DISPOSITION.    

        2.1.    Offer Notice and Required Consent.    If any Employee Stockholder (hereinafter, a
"Selling Stockholder") desires to accept an offer (which must be in writing and for cash, be irrevocable by its terms for at least ninety
(90) days and be a bona fide offer as determined in good faith by the Committee) from any prospective purchaser to purchase all or any part of the Covered Shares at any time owned by the
Selling Stockholder, the Selling Stockholder shall give notice in writing to the Company ("Offer Notice") (i) designating the number of Covered
Shares proposed to be sold (the "Offer Shares"), (ii) naming the prospective purchaser of such Offer Shares, (iii) specifying the price
(the "Offer Price") at and terms (the "Offer Terms") upon which the Selling Stockholder desires to sell
the same, and (iv) requesting the consent of the Company to sell the Offer Shares at the Offer Price on the Offer Terms. Within thirty (30) days after receipt of the Offer Notice, the
Company shall give written notice to the Selling Stockholder of its consent or refusal to consent to the sale by the Selling Stockholder of the Offer Shares on the Offer Terms, but subject to the
rights of first refusal and other terms and conditions of this Section 2; provided that the consent of the Company shall not be 

2

 

unreasonably
withheld. If the Company fails or refuses to consent to the sale of the Offer Shares as described above, the Offer Shares may not be sold as described in the Offer Notice, the Offer
Notice will be deemed withdrawn, and the parties shall return to status quo ante. If the Company consents to the sale of the Offer Shares as described
above, the date the consent of the Company has been received by the Selling Stockholder shall be the "Offer Period Commencement Date" and the Selling
Stockholder may sell the Offer Shares subject to and in accordance with the rights of first refusal and other terms and conditions set forth below. 

        2.2.    Rights of First Refusal.    During the 30-day period commencing on the Offer Period Commencement
Date (the "Offer Period"), the Company shall have the option (the "Section 2 Purchase Option") to
purchase the Offer Shares from the Selling Stockholder, at the Offer Price and on the Offer Terms. The Company hereby undertakes to use reasonable efforts to act reasonably promptly following the
Offer Notice to determine whether it shall elect to exercise the Section 2 Purchase Option. The Section 2 Purchase Option shall be exercised by irrevocable written notice
("Section 2 Purchase Notice") to the Selling Stockholder given at any time during the Offer Period. If the Section 2 Purchase Option is
exercised, the Company shall deliver to the Selling Stockholder the Offer Price, in cash or immediately available funds, payable to the order of the Selling Stockholder, against delivery of
certificates or other instruments representing the Offer Shares so purchased, appropriately endorsed by the Selling Stockholder at a closing to occur at the offices of the Company within
30 days after the date of the Section 2 Purchase Notice. If the Section 2 Purchase Option shall not have been exercised prior to the expiration of the Offer Period, then at any
time during the thirty (30) days following the expiration of the Offer Period, the Selling Stockholder may sell the Offer Shares to (but only to) the intended purchaser named in the Offer
Notice and only at the Offer Price and on the Offer Terms specified in the Offer Notice, provided that such intended purchaser shall have agreed in
writing, pursuant to an instrument of assumption satisfactory in substance and form to the Company, that the Covered Shares shall continue to be subject to all the terms and conditions of this
Agreement and any other, agreement between the Company and the Employee Stockholder relating to the Covered Shares as if the Covered Shares continued to be held by the Employee Stockholder who
acquired the same pursuant to the Plan. The right of the Selling Stockholders to sell the Offer Shares set forth in this Section 2, subject to
the rights of first refusal set forth in this Section 2, shall be suspended during the Option Period referred to in  Section 3 hereof. 

        The
Company may assign, in whole or in part, its Section 2 Purchase Option and, in the case of any such assignment, where appropriate, references to the Company in  Section 2.2 shall be deemed to
be references to the Company and/or its assignee or assignees. 

        3.    PURCHASE OPTION ON TERMINATION.    

        3.1.    Purchase Option in General.    On the date an Employee Stockholder ceases to provide services to the Company
or any subsidiary or affiliate of the Company as an employee or non-employee director (the "Employment Termination Date"), the Company shall
have the option (the "Section 3 Purchase Option") to purchase all or any portion of the Covered Shares then held by such Employee Stockholder or
any of his or her Permitted Transferees or subsequently acquired by such Employee Stockholder or any of his or her Permitted Transferees pursuant to exercise of any Option that remains exercisable
after the Employment Termination Date, and shall have a period of seven (7) months from the Employment Termination Date (the "Option Period")
during which to give written notice to the Employee Stockholder (or his or her estate) of its election to exercise or not to exercise its Section 3 Purchase Option, in whole or in part
(i.e., with respect to all or any number of Covered Shares then held by the Employee Stockholder or one or more Permitted Transferees or that may be acquired pursuant to the exercise of any
Option that remains exercisable after the Employment Termination Date). In the case of termination of employment or service without Cause (as defined in the Option Agreement pursuant to which the
Employee Stockholder acquired the Covered Shares) or by reason of the death or Disability (as defined in the Option Agreement pursuant to which the Employee 

3

 

Stockholder
acquired the Covered Shares) of the Employee Stockholder, the Employee Stockholder and his or her Permitted Transferees, if any, shall have the right to elect by written notice to the
Company at any time within one year following the Employment Termination Date to require that the Company repurchase any Covered Shares that the Company has not elected to purchase pursuant to this  Section 3.1. Notice of an election to purchase or require the purchase of Covered Shares pursuant to this  Section 3.1 is referred to as a "Section 3 Purchase Notice." All purchases of Covered
Shares pursuant to this Section 3.1 shall be for a purchase price and in the manner prescribed in this  Section 3 below. 

        3.2.    Purchase Price.    For purposes of any purchase of Covered Shares pursuant to Section 3, the purchase price to be paid
to the Employee Stockholder (or his or her Permitted Transferee) for the Covered Shares that are to be purchased (the
"Purchase Price") shall be the Fair Market Value (determined in accordance with this Section 3.2  below) of such Covered Shares, as of the later of
(a) the Employment Termination Date or (b) the date that is six (6) months and ten (10) days after
the date on which the Employee Stockholder (or his or her estate) last acquired (including by any post-termination exercise of Options) Covered Shares from the Company; provided that in
the case of any Employee Stockholder whose employment or service is terminated for Cause (as defined in the Option Agreement pursuant to which-the Employee Stockholder acquired the Covered
Shares), the Purchase Price for such Covered Shares shall be the lesser of (x) the Fair Market Value of such Shares as of the Employment Termination Date and (y) the price at which the
Employee Stockholder purchased such Covered Shares from the Company. For purposes of this Agreement, the term "Fair Market Value" means the fair market
value of the Covered Shares as determined in good faith by the Committee, with reference to the earnings, history, book value and prospects of the Company in light of market conditions generally, and
any other factors the Committee
considers appropriate, including capital structure (provided that the Committee-shall not give effect to any discount for the lack of liquidity or voting rights with respect to the Covered Shares, or
the status of the Employee Stockholder as a holder of a minority interest in the Covered Shares being valued, or similar discounts to value), such determination by the Committee to be final,
conclusive and binding. The Purchase Price shall be communicated to the Employee Stockholder whose Covered Shares are to be purchased (or his or her estate) by written notice
("Price Determination Notice") given on or before the latest of (i) the 30th day after the date of the applicable
Section 3 Purchase Notice, (ii) the 30th day after the last date on which the Employee Stockholder (or his or her estate) could have acquired any Covered Shares
pursuant to the exercise of an Option, or (iii) the 60 day after the date as of which Fair Market Value is determined under this Section 3.2.  

        3.3.    Closing; Payment of Purchase Price.    The closing of a purchase pursuant to this 
Section 3 (the "Section 3 Closing") shall take place at the principal office of the
Company on the fifteenth (15th) business day after the date of delivery of the Price Determination Notice (the "Section 3 Closing
Date"). At the Section 3 Closing, (i) subject to the proviso below, the Company shall pay to the Employee Stockholder (or his or her Permitted Transferee) cash or
immediately available funds in an amount equal to the aggregate Purchase Price and (ii) the Employee Stockholder (or his or her Permitted Transferee) shall deliver to the Company any
certificates or other instruments representing the Covered Shares so purchased, appropriately endorsed by the Employee Stockholder (or his or her Permitted Transferee), as the Company may reasonably
require. Notwithstanding any other provision of this Agreement, except with respect to a purchase by the Company following the termination of the Employee Stockholder by reason of death or Disability,
the Company may, in its discretion, pay all or any part of the Purchase Price by delivery of its promissory note to the Employee Stockholder; provided that the term of the promissory note does not
exceed sixty months, interest accrues on the principal amount outstanding at a rate equal to the "Prime Rate" as published in The Wall Street Journal Northeast
Edition from time to time, and the promissory note (which may be prepayable without premium or penalty) calls for level amortizing payments (no less frequent than quarterly) of
interest and principal. 

4

 

        3.4.    Failure to Tender.    In the event that the Employee Stockholder, or any holder of Covered Shares, fails to
tender any Covered Shares subject to purchase under this Section 3 on or before the Section 3 Closing Date, such Covered Shares shall be
canceled on the books and records of the Company on the Section 3 Closing Date and the Employee Stockholder or other holder shall no longer have any dividend or voting or other rights with
respect to such Covered Shares. 

        The
Company may assign, in whole or in part, its Section 3 Purchase Option and, in the case of any such assignment, where appropriate, references to the Company in  Section 3 shall be deemed to be
references to the Company and/or its assignee or assignees. 

        4.    PARTICIPATION IN CERTAIN TRANSACTIONS.    

        4.1.    Tag Along Rights in General.    If Holdings intends to effect a Sale of more than fifty percent (50%) of the
Holdings Shares to a Third Party Purchaser (a "Qualifying Transaction"), Holdings shall give each Employee Stockholder written notice
("Transfer Notice") (x) stating (i) the name and address of the Third Party Purchaser, (ii) the per share amount and form of
consideration Holdings proposes to receive in the Qualifying Transaction, (iii) the terms and conditions of payment of such consideration and other material terms of the Qualifying Transaction,
(iv) the anticipated time and place of closing, which closing (subject to such terms and conditions) shall occur not fewer than twenty (20) days after the date of the Transfer Notice,
and (v) that the Employee Stockholder may elect to participate in the Qualifying Transaction to the extent provided in Section 4.2 below
on the same terms and conditions as Holdings (the "Holdings Terms") and (y) including such materials and information as may be reasonably
necessary to enable the Employee Stockholder to comply with the requirements of Section 4.4 below. For purposes of this  Section 4: the term
"Third Party Purchaser" means any person or entity other than (i) the
Company, or (ii) an affiliate of the Company; and the term "Sale" means any sale, exchange, or other outright transfer for consideration other
than a pledge, collateral assignment, or similar transfer for security. 

        4.2.    Election to Participate; Applicable Percentage.    Any election to participate in a Qualifying Transaction
shall be made by written notice ("Participation Notice") delivered to Holdings within ten (10) days after the date of delivery of the Transfer
Notice (or such longer election period as may be specified in the Transfer Notice) specifying the total number of Covered Shares owned by the Employee Stockholder and the total number of whole Covered
Shares he or she wishes to sell or transfer in the Qualifying Transaction. The Participation Notice shall be ineffective unless accompanied by a power of attorney, letter of transmittal, custody
agreement certificates and other materials called for under and more particularly described in Section 4.4 below. The maximum number of Covered
Shares that an Employee Stockholder may elect to sell or transfer pursuant to Section 4.1 shall be the percentage of his or her Covered Shares
(the "Applicable Percentage") equal to the percentage of Holdings Shares to be sold in the Qualifying Transaction, after giving effect to any other tag
along, participation or similar rights to which Holdings may be subject. 

        4.3.    Drag Along Rights.    If Holdings intends to effect a Qualifying Transaction, Holdings may, at its option,
cause each Employee Stockholder to sell to the Third Party Purchaser a percentage of his or her Covered Shares equal to the Applicable Percentage by notice ("Drag Along
Notice") given to the Employee Stockholders setting forth, in addition to the information required to be set forth in a Transfer Notice under  Section 4.1, that Holdings is
exercising its rights under this Section 4.3 to require the
Employee Stockholder to sell Covered Shares in connection with the proposed sale (hereinafter, a "Drag Along Transaction") on the same terms and
conditions as, and in exchange for the same per share consideration as, is to be received by, Holdings. 

        4.4.    Conditions.    Within ten (10) days after receipt of (x) a Drag Along Notice or (y) a
Transfer Notice with respect to a Qualifying Transaction in which the Employee Stockholder elects to participate, as applicable, the Employee Stockholder shall execute and deliver to Holdings a power
of attorney and a letter of transmittal and custody agreement appointing, and in form and substance 

5

 

reasonable
satisfactory to, Holdings or one or more of its affiliates designated by Holdings (the "Custodian"), the true and lawful
attorney-in-fact and custodian for the Employee Stockholder, with full power of substitution, and authorizing the Custodian to take such actions as the Custodian may deem
necessary or appropriate to effect the sale and transfer of the Covered Shares to be transferred pursuant to Section 4.1 or  4.3 above (the
"Transfer Shares"), upon receipt of the purchase price therefore at the closing of the
Qualifying Transaction (the "Section 4 Closing"), free and clear of all security interests, liens, claims, encumbrances, charges, options,
restrictions on transfer, proxies and voting and other agreements of whatever nature, and to take such other action as may be necessary or appropriate in connection with such sale, including
consenting to any amendments, waivers, modifications or supplements to the terms of the sale, provided that Holdings also so consents, and, to the
extent applicable, sells and transfers the Applicable Percentage of its Holdings Shares on the same terms as so amended, waived, modified or supplemented) and (ii) deliver to the Custodian
certificates representing the Transfer Shares, together with all necessary duly executed stock powers. The Custodian shall hold the Transfer Shares and other documents in trust for the Employee
Stockholder pending completion or abandonment of such sale. If, within ninety (90) days after the date of the Drag Along Notice or Transfer Notice, as applicable, Holdings has not completed the
sale of the Transfer Shares and Holdings Shares to the Third Party Purchaser and a subsequent Drag Along Notice has not been sent to the Employee Stockholders, the Custodian shall return to the
Employee Stockholders all certificates representing the Transfer Shares and all other documents that the Employee Stockholder delivered in connection with such sale. Promptly after the
Section 4 Closing, the Custodian shall give notice thereof to the Employee Stockholders, shall remit to the Employee Stockholders the total consideration for the Transfer Shares sold pursuant
thereto (reduced by any required withholding or other similar taxes and by any amount required to be held in escrow pursuant to the terms of the purchase and sale agreement and a pro rata portion of
any expenses incurred in connection with such sale), and shall furnish such other evidence of the completion and time of completion of such sale and the terms thereof as may reasonably be requested by
the Employee Stockholders. Without limiting the foregoing or any further requirements set forth in Section 4.5 below, the Employee Stockholders
shall cooperate with, and do all things reasonably requested by, the Company or Holdings in order to effect any transfer of Transfer Shares. 

        4.5.    Employee Stockholder Cooperation in Connection with Qualifying Transactions.    The Employee Stockholders
shall vote for, consent to, and raise no objections against any Qualifying Transaction and shall take any and all actions reasonably deemed necessary or appropriate by Holdings in connection with the
same. Without limiting the foregoing, the Employee Stockholders further covenant and agree as follows: (i) if any Qualifying Transaction is structured as a sale of shares or interests in
Holdings, the Employee Stockholders will agree to sell to the Third Party Purchaser all Covered Shares or interests in Holdings he or she may be required to sell or transfer pursuant to  Section 4.3
above on the Holdings Terms; (ii) if any Qualifying Transaction is in the form of a merger, consolidation or other
reorganization, the Employee Stockholders will (x) tender all Covered Shares held by them in connection with such merger, consolidation or other reorganization and (y) vote in favor
thereof and waive any dissenters' rights, appraisal rights or similar rights in connection with such merger, consolidation or other reorganization; and (iii) if at any time an offer is made to
acquire substantially all of the assets of the Company, which offer must be approved by a resolution of the shareholders, each Employee Stockholder shall vote all of his or her Covered Shares in
respect of such offer in the same
manner as Holdings Shares are voted; and (iv) if Holdings votes in favor of a complete liquidation, dissolution or winding-up of the Company, each Employee Stockholder shall, vote
all of his or her Covered Shares in favor of the same and will consent to and raise no objections thereto. 

        5.    VOTING AGREEMENT.    In any and all elections by the
shareholders of the members of the Company's Board of Directors and any and all other matters subject to the vote, consent or other determination of the shareholders of the Company, whether in person,
by proxy or by written consent, the Employee Stockholders agree that all Covered Shares (whether held by Employee Stockholders or 

6

 

one
or more Permitted Transferees) shall be voted in the manner determined by Holdings and communicated to the Employee Stockholders by written notice prior to any such vote and that each holder of
Covered Shares shall execute and deliver to Holdings any and all such proxies or other instruments reasonably deemed necessary by it to carry out the purpose and intent of the foregoing agreement. 

        6.    HOLDBACK.    Each Employee Stockholder agrees that; if and
whenever the Company proposes to register any of its equity securities under the Securities Act, whether or not for its own account, unless the registration statement is on
Form S-4, the Employee Stockholders (and any Permitted Transferees) shall not effect any public sale or distribution (including sales pursuant to Rule 144) of Covered Shares
during the period before and after the effective date of such registration as the underwriter managing the registered public offering may demand. The Company shall inform the Employee Stockholders of
its reasonable expectation of the approximate date of effectiveness of any registration statement. 

        7.    LEGEND.    Each certificate evidencing Covered Shares and each
certificate issued in exchange for or upon the transfer of any Covered Shares (if such shares remain Covered Shares as defined herein after such transfer) shall be stamped or otherwise imprinted with
a legend in substantially the following form: 

THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE
ABSENCE OF A REGISTRATION STATEMENT IN EFFECT WITH RESPECT TO THE SECURITIES UNDER SUCH ACT OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED OR UNLESS SOLD
PURSUANT TO RULE 144 OF SUCH ACT. 

THE
SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO AN AMENDED AND RESTATED EMPLOYEE STOCKHOLDERS AGREEMENT DATED AS OF 
[                                    ],
200[_], AMONG THE ISSUER OF SUCH SECURITIES (THE "COMPANY") AND CERTAIN OF THE COMPANY'S
STOCKHOLDERS AND INDIRECT BENEFICIAL OWNERS. A COPY OF SUCH EMPLOYEE STOCKHOLDERS AGREEMENT WILL BE FURNISHED WITHOUT CHARGE BY THE COMPANY TO THE HOLDER HEREOF UPON WRITTEN REQUEST. 

        8.    REMEDIES.    Each of the parties acknowledges and agrees that
breach or threatened breach of any of their respective obligations under this Agreement would cause irreparable damage for which money damages would be an inadequate remedy and that, in the event of
breach or threatened breach of any of their respective obligations under this Agreement, the non-breaching parties shall be entitled to, in addition to any other rights and remedies
available in respect of such breach, an injunction or other equitable relief (without posting a bond or other security) granting specific performance of the others' obligations hereunder. 

        9.    REPRESENTATIONS AND COVENANTS.    

        9.1.    Representations and Covenants.    Each Employee Stockholder (i) represents that he or she has not
granted and is not a party to any proxy, voting trust or other agreement that is inconsistent with or conflicts with the provisions of this Agreement, (ii) covenants that he or she shall not
grant any proxy or become party to any voting trust or other agreement that is inconsistent with or conflicts with the provisions of this Agreement, (iii) covenants that he or she shall not
act, for any reason, as a member of a group or in concert with or enter into any agreement or arrangement with any other person in connection with the acquisition, disposition or voting of Covered
Shares in any manner that 

7

 

is
inconsistent with the provisions of this Agreement, and (iv) covenants that he or she shall not attempt to circumvent this Agreement by taking any action through a subsidiary or other person
effectively controlled by the Employee Stockholder that would be prohibited under this Agreement. Each Employee Stockholder further acknowledges, ratifies and confirms all of his or her covenants and
agreements in and obligations under the Optionee Non-Competition Agreement between such Employee Stockholder and the Company, the making of which were a condition to the grant of, and a
material inducement to the Company in granting, the Options to such Employee Stockholder. 

        9.2.    Certain Remedies.    Without limiting any rights or remedies of or available to the Company or the Operating
Company, as applicable, under this or any other agreement or otherwise, upon an Employee Stockholder's breach of any of his or her representations or covenants of  Section 9.1 or violation of his or
her Optionee Non-Competition Agreement with the Company or the Operating Company, as applicable,
(A) the Company shall have the assignable right and option, exercisable in its discretion, to purchase all or any portion of the Covered Shares then held by such Employee Stockholder or any of
his or her Permitted Transferees) at a purchase price equal to the lesser of the exercise price paid by the Employee Stockholder to acquire such Covered Shares or the Fair Market Value of such Covered
Shares as of the time of repurchase, and (B) to the extent that the Employee Stockholder or any Permitted Transferee shall have sold, transferred or otherwise disposed of any Covered Shares,
the Employee Stockholder shall be required to pay the Company on demand the amount, if any, by which the amount of any proceeds received by the Employee Stockholder or any Permitted Transferee in
connection with such sale, transfer of other disposition exceeds the exercise
price paid for such Covered Shares. These remedies are cumulative and in addition to any other rights and remedies the Company or the Operating Company, as applicable, may have under any Optionee
Non-Competition Agreement or otherwise, including, without limitation, equitable relief and the recovery of damages from the Optionee. 

        10.    TERM.    The terms, conditions and provisions of this Agreement
shall continue in full force and effect until the earlier of: (A) the first day on which an offering of any share of Common Stock is registered for sale to the public under the Securities Act
(the "Registration Date"), or (B) the effective, date of any joint written consent of the Company and Holdings to the termination thereof (the
later of the Registration Date and such consensual termination date is referred to as the "Termination Date"), and shall thereafter expire,  provided,
however, that the terms, conditions and provisions of this Agreement shall remain in effect
for so long after the Termination Date as may be necessary to the enforcement of the parties' rights and obligations accrued through the Termination Date. 

        11.    MISCELLANEOUS.    

        11.1.    References to Securities.    If Covered Shares originally acquired in the form of Common Stock
("Original Securities") are later exchanged for or converted into a different number or kind of Company securities, all of the terms of this Agreement
shall apply to such exchanged or converted securities and any reference to the amount paid for such securities shall be understood to refer to the number and price of the Original Securities from
which the securities were derived equitably adjusted for additional contributions or distributions of cash. To the extent securities other than Common Stock become subject to this Agreement, the
Committee shall have discretion to interpret or amend this Agreement as reasonably necessary to equitably accommodate the provisions hereof to such securities, including but not limited to the
determination of fair market value per share, provided, in making any such interpretation or amendment, the Committee shall, in good faith, attempt to provide results consistent with the overall
intent of this Agreement. 

        11.2.    Amendment; Waiver.    This Agreement may be amended only by a written instrument signed by the Company and
Holdings; provided that except as otherwise expressly provided herein, no modification, amendment or waiver of any provision of this Agreement which has the effect of reducing the rights or increasing
the obligations of any Employee Stockholder shall be effective against such Employee Stockholder without his or her prior written consent. The failure of any party to enforce any 

8

 

of
the provisions of this Agreement shall in no way be construed as a waiver of such provisions and shall not affect the right of such party thereafter to enforce each and every provision of this
Agreement in accordance with its terms. 

        11.3.    Severability.    If any term or provision of this Agreement is deemed illegal, invalid, or unenforceable in
any respect, the legality, validity, and enforceability of the remaining provisions hereof shall not in any way be affected or impaired thereby, and this Agreement shall be reformed and construed and
enforced to the maximum extent permitted by applicable law. 

        11.4.    Entire Agreement.    Except as otherwise expressly set forth herein, this document embodies the complete
agreement and understanding among the parties hereto with respect to the subject matter hereof and supersedes any prior understandings, agreements or representations by or among the parties, written
or oral, with respect to the subject matter hereof. It is understood that the Employee Stockholders and the Company are also party to certain Stock Option Agreements relating to the Covered Shares and
nothing herein shall be deemed to modify, expand or diminish their respective rights and obligations thereunder; instead, all such rights and obligations are intended to be concurrent and cumulative. 

        11.5.    Successors and Assigns.    This Agreement shall bind and inure to the benefit of the Company, Holdings, the
Employee Stockholders, and their respective permitted successors and assigns. 

        11.6.    Counterparts.    This Agreement may be executed in one or more counterparts, each of which shall be an
original and all of which taken together shall constitute one and the same agreement. 

        11.7.    Notices.    Any notice or other communication required or permitted under this Agreement
("Notices") shall be in writing and shall be either personally delivered, or mailed first class mail (postage prepaid) or sent by reputable overnight
courier service (charges prepaid) addressed as follows: 

	If to the Company:	 	GT Solar International, Inc.

243 Daniel Webster Highway

Merrimack, New Hampshire 03054

Attention: Ned Lewis, General Counsel
	

If to Holdings:	
 	

GT Solar Holdings, LLC

c/o GFI Energy Ventures, LLC

11611 San Vicente Blvd., Suite 710

Los Angeles, CA 90049

If
to an Employee Stockholder, to the address indicated on Exhibit A or any counterpart hereto or at such address as may be indicated in the Company's share register. 

        Any
party may change its address for Notices by written Notice to the others given in accordance with this Section 11.7. Notices
shall be deemed given when delivered personally, three (3) business days after deposit in the U.S. mail, or two (2) business days after deposit with a reputable overnight courier
service, as applicable. 

        11.8.    Governing Law.    This Agreement shall be governed by the laws of the State of Delaware without regard to its
conflict of laws principles. 

        11.9.    Descriptive Headings.    The descriptive headings of this Agreement are included for convenience and ease of
reference and do not constitute a part of this Agreement. 

*
* * * * 

9

  
        IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the day and year first above written. 

	 	 	GT SOLAR INTERNATIONAL, INC.
	

 	
 	

By:	
 	

 
	 	 	 	 	/s/  EDWIN L. LEWIS      
 Name:    Edwin L. Lewis

Title:      Vice President
	

 	
 	
GT SOLAR INCORPORATED
	

 	
 	

By:	
 	

 
	 	 	 	 	/s/  EDWIN L. LEWIS      
 Name:    Edwin L. Lewis

Title:      Vice President
	

 	
 	
GT SOLAR HOLDINGS, LLC
	

 	
 	

By:	
 	

OCM/GFI POWER OPPORTUNITIES FUND II, L.P.
	 	 	Its:	 	Managing Member
	

 	
 	

By:	
 	

GFI Power Opportunities Fund II, GP, LLC
	 	 	Its:	 	General Partner
	

 	
 	

By:	
 	

GFI Energy Ventures LLC
	 	 	Its:	 	Managing Member
	

 	
 	

By:	
 	

 
	 	 	 	 	/s/  RICHARD LANDERS      
 Name:    Richard Landers

Title:      Partner
	

 	
 	

By:	
 	

OCM/GFI POWER OPPORTUNITIES FUND II (CAYMAN), L.P.
	 	 	Its:	 	Managing Member
	

 	
 	

By:	
 	

GFI Power Opportunities Fund II GP (Cayman) Ltd.
	 	 	Its:	 	General Partner
	

 	
 	

By:	
 	

GFI Power Opportunities Fund II GP, LLC
	 	 	Its:	 	Director
	

 	
 	

By:	
 	

GFI Energy Ventures, LLC
	 	 	Its:	 	Managing Member
	

 	
 	

By:	
 	

 
	 	 	 	 	/s/  RICHARD LANDERS      
 Name:    Richard Landers

Title:      Partner

[Signature
Pages to GT Solar International, Inc. Amended and Restated Employee Stockholders Agreement] 

EXHIBIT A  

(Form of Counterpart Signature Page for Employee Stockholders) 

	

 	
 	

 Name:

Address:
	 	 	Number of Covered Shares	 	 
	 	 	 	 	

	 	 	Date Assigned	 	 
	 	 	 	 	

EXHIBIT B  

Spousal Consent  

        The undersigned, spouse
of                                    , being first fully advised
concerning the financial condition of my spouse and the Company, hereby consents and agrees
to the terms and conditions of the foregoing Amended and Restated Employee Stockholders Agreement and further agrees that any type of marital property interest, deferred marital property interest or
community property interest she or he may at any time have in the Covered Shares (as defined in the Amended and Restated Employee Stockholders Agreement), and any Covered Shares registered in his/her
sole name, shall at all times be subject to all of the terms and conditions of the Amended and Restated Employee Stockholders Agreement, as amended from time to time. The undersigned agrees to comply
with all of the terms and conditions of the Amended and Restated Employee Stockholders Agreement applicable to the Covered Shares and holders thereof, including, but not limited to, any disposition
made in or pursuant to the Amended and Restated Employee Stockholders Agreement of interest I may now or hereafter have in the Covered Shares through marital property, divorce decree, or otherwise. 

	Dated:	 	 	 	 	 	 
	 	 	
	 	 	 	 
	

 	
 	

 	
 	

 Signature of Spouse
	 	 	 	 	Print Name:	 	 
	 	 	 	 	 	 	

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Exhibit 10.34    
    

GT SOLAR INTERNATIONAL, INC.  

 2008 EQUITY INCENTIVE PLAN  

 ARTICLE I

PURPOSE  

        Purpose of the Plan.    The Plan shall be known as the GT Solar International, Inc. 2008 Equity Incentive Plan (the
"Plan"). The Plan is intended to further the growth in shareholder value of the Company by providing equity-related incentives and encouraging Share
ownership on the part of the Employees, Members of the Board, and Independent Contractors of GT Solar International, Inc. (the "Company") and its
Subsidiaries. The Plan is intended to permit the grant of Awards that constitute Incentive Stock Options, Non-Qualified Stock Options, Stock Appreciation Rights, Restricted Stock,
Restricted Stock Units and Other Stock Awards. 

ARTICLE II

DEFINITIONS  

        The following words and phrases shall have the following meanings unless a different meaning is plainly required by the context: 

        "1934 Act" means the Securities Exchange Act of 1934, as amended. Reference to a specific section of the 1934 Act or regulation thereunder
shall include such section or regulation, any valid regulation or interpretation promulgated under such section, and any comparable provision of any future legislation or regulation amending,
supplementing or superseding such section or regulation. 

        "Affiliate" means any corporation or any other entity (including, but not limited to, partnerships and joint ventures) directly or
indirectly controlled by the Company. 

        "Award" means, individually or collectively, a grant under the Plan of Non-Qualified Stock Options, Incentive Stock Options,
Stock Appreciation Rights, Restricted Stock, Restricted Stock Units, or Other Stock Awards. 

        "Award Agreement" means the written agreement setting forth the terms and conditions applicable to an Award. 

        "Base Price" means the price at which a SAR may be exercised with respect to a Share. 

        "Board" means the Company's Board of Directors, as constituted from time to time. 

        "Code" means the Internal Revenue Code of 1986, as amended. Reference to a specific section of the Code or regulation thereunder shall
include such section or regulation, any valid regulation or other guidance promulgated under such section, and any comparable provision of any future legislation or regulation amending, supplementing
or superseding such section or regulation. 

        "Committee" means the committee of the Board described in ARTICLE III.

1

 

        "Employee" means an employee of the Company, a Related Company, an Affiliate or a Subsidiary designated by the Committee. Notwithstanding
anything to the contrary contained herein, the Committee may grant Awards to an individual who has been extended an offer of employment by the Company, a Related Company or a Subsidiary; provided that
any such Award shall be subject to forfeiture if such individual does not commence employment by a date established by the Committee. 

        "Exercise Price" means the price at which a Share subject to an Option may be purchased upon the exercise of the Option. 

        "Fair Market Value" means, except as otherwise specified in a particular Award Agreement, (a) while the Shares are readily traded
on an established national or regional securities exchange, the closing transaction price of such a Share as reported by the principal exchange on which such Shares are traded on the date as of which
such value is being determined or, if there were no reported transaction for such date, the opening transaction price as reported by exchange for the first trading date following the date by which
such value is being determined on the next preceding date for which a transaction was reported, (b) if the Shares are not readily traded on an established national or regional securities
exchange, the average of the bid and ask prices for such a Share on the date as of which such value is being determined, where quoted for such Shares, or (c) if Fair Market Value cannot be
determined under clause (a) or clause (b) above, or if the Committee determines in its sole discretion that the Shares are too thinly traded for Fair Market Value to be determined
pursuant to clause (a) or clause (b), the value as determined by the Committee, in its sole discretion, on a good faith basis. 

        "Grant Date" means the date that the Award is granted. 

        "Immediate Family" means the Participant's children, stepchildren, grandchildren, parents, stepparents, grandparents, spouse, siblings
(including half-brothers and half-sisters), in-laws (including all such relationships arising because of legal adoption) and any other person required under
applicable law to be accorded a status identical to any of the foregoing. 

        "Incentive Stock Option" means an Option that is designated as an Incentive Stock Option and is intended by the Committee to meet the
requirements of Section 422 of the Code. 

        "Independent Contractor" means an independent contractor or consultant of the Company, a Related Company or a Subsidiary designated by the
Committee. Notwithstanding anything to the contrary contained herein, the Committee may grant Awards to an individual who has been extended an offer to become an independent contractor or consultant
by the Company, a Related Company or a Subsidiary; provided that any such Award shall be subject to forfeiture if such individual does not commence employment by a date established by the Committee. 

        "Member of the Board" means an individual who is a member of the Board or of the board of directors of a Related Company or a Subsidiary. 

        "Non-Qualified Stock Option" means an Option that is not an Incentive Stock Option. 

        "Option" means an option to purchase Shares granted pursuant to ARTICLE V. 

2

 

        "Other Stock Award" means an Award granted pursuant to ARTICLE VIII to receive Shares on
the terms specified in any applicable Award Agreement. 

        "Participant" means an Employee, Independent Contractor, or Member of the Board with respect to whom an Award has been granted and remains
outstanding. 

        "Performance Goals" means goals established by the Committee as contingencies for Awards to vest and/or become exercisable or
distributable. 

        "Performance Period" means the designated period during which the Performance Goals must be satisfied with respect to the Award to which
the Performance Goals relate. 

        "Period of Restriction" means the period during which Restricted Stock or an RSU is subject to forfeiture and/or restrictions on
transferability. 

        "Plan" means this GT Solar International, Inc. 2008 Equity Incentive Plan, as set forth in this instrument and as hereafter amended
from time to time. 

        "Related Company" means any person or entity that would be considered a single employee with the Company under Section 414(b) or
(c) of the Code if the language "at least 80 percent" as used in connection with the application of these provisions were placed by "at least 50%." 

        "Restricted Stock" means a Stock Award granted pursuant to ARTICLE VI under which the
Shares are subject to forfeiture upon such terms and conditions as specified in the relevant Award Agreement. 

        "Restricted Stock Unit" or "RSU" means a Stock Award granted pursuant to  ARTICLE VI subject to a period or periods of time
after which the Participant will receive Shares if the conditions contained in such Stock Award have
been met. 

        "Rule 16b-3" means Rule 16b-3 promulgated under the 1934 Act, as amended, and any future regulation
amending, supplementing or superseding such regulation. 

        "Share" means the Company's common stock, par value $0.01 per share, or any security issued by the Company or any successor in exchange or
in substitution therefor. 

        "Stock Appreciation Right" or "SAR" means an Award granted pursuant to  ARTICLE VII, granted alone or in tandem with a
related Option which is designated by the Committee as an SAR. 

        "Stock Award" means an Award of Restricted Stock or an RSU pursuant to ARTICLE VI.

        "Subsidiary(ies)" means any corporation (other than the Company) in an unbroken chain of corporations, including and beginning with the
Company, if each of such corporations, other than the last corporation in the unbroken chain, owns, directly or indirectly, more than fifty percent (50%) of the voting stock in one of the other
corporations in such chain. 

        "Ten Percent Holder" means an Employee (together with persons whose stock ownership is attributed to the Employee pursuant to
Section 424(d) of the Code) who, at the time an Option is 

3

 

granted,
owns stock representing more than ten percent of the voting power of all classes of stock of the Company. 

ARTICLE III

ADMINISTRATION  

        3.1   The Committee.    The Plan shall be administered by the compensation committee of the Board (the
"Committee"). Reference to the Committee shall refer to the Board if the Committee ceases to exist and the Board does not appoint a successor Committee. 

        3.2   Authority and Action of the Committee.    It shall be the duty of the Committee to administer the Plan in
accordance with the Plan's provisions. The Committee shall have all powers and discretion necessary or appropriate to administer the Plan and to control its operation, including, but not limited to,
the power to (a) determine which Employees, Members of the Board and Independent Contractors shall be eligible to receive Awards and to grant Awards, (b) prescribe the form, amount,
timing and other terms and conditions of each Award, (c) interpret the Plan and the Award Agreements, (d) adopt such procedures as it deems necessary or appropriate to permit
participation in the Plan by eligible Employees, Members of the Board and Independent Contractors, (e) adopt such rules as it deems necessary or appropriate for the administration,
interpretation and application of the Plan, (f) interpret, amend or revoke any such procedures or rules, (g) correct any technical defect(s) or technical omission(s), or reconcile any
technical inconsistency(ies), in the Plan and/or any Award Agreement, (h) accelerate the vesting of any award, (i) extend the period during which an Option may be exercisable, and
(j) make all other decisions and determinations that may be required pursuant to the Plan and/or any Award Agreement or as the Committee deems necessary or advisable to administer the Plan. 

        The
Committee's determinations under the Plan need not be uniform and may be made selectively among Participants, whether or not such Participants are similarly situated. Each member of
the Committee is entitled to, in good faith, rely or act upon any report or other information furnished to that member by any Employee of the Company or any of its Subsidiaries or Affiliates, the
Company's independent certified public accountants or any executive compensation consultant or other professional retained by the Company to assist in the administration of the Plan. 

        The
Company shall effect the granting of Awards under the Plan, in accordance with the determinations made by the Committee, by execution of written agreements and/or other instruments
in such form as is approved by the Committee. 

        3.3   Delegation by the Committee.    The Committee in its sole discretion and on such terms and conditions as it may
provide may delegate all or any part of its authority and powers under the Plan to one or more Members of the Board of the Company and/or officers of the Company; provided, however, that the Committee
may not delegate its authority or power if prohibited by law, or if such delegation would cause the Awards or other transactions under the Plan to cease to be exempt from Section 16(b) of the
1934 Act or not to qualify for, or cease to qualify for, exemption under Code § 162(m). 

4

 

        3.4   Decisions Binding.    All determinations, decisions and interpretations of the Committee, the Board, and any
delegate of the Committee pursuant to the provisions of the Plan or any Award Agreement shall be final, conclusive, and binding on all persons, and shall be given the maximum deference permitted by
law. 

        3.5   Performance Goals.    The Committee shall have the authority to grant Awards under this Plan that are
contingent upon the achievement of Performance Goals. Such Performance Goals are to be specified in the relevant Award Agreement and may be based on such factors including, but not limited to:
(a) revenue, (b) earnings per Share, (c) net income per Share, (d) Share price, (e) pre-tax profits, (f) net earnings, (g) net income,
(h) operating income, (i) cash flow, (j) earnings before interest, taxes, depreciation and amortization, (k) bookings, (l) total stockholder return relative to
assets, (m) total stockholder return relative to peers, (n) financial returns (including, without limitation, return on assets, return on equity and return on investment),
(o) cost reduction targets, (p) customer satisfaction, (q) customer growth, (r) employee satisfaction, (s) gross margin, (t) revenue growth, (u) any
combination of the foregoing, or, (v) such other criteria as the Committee may determine. Performance Goals may be in respect of the performance of the Company, any of its Subsidiaries or
Affiliates or any combination thereof on either a consolidated, business unit or divisional level. Performance Goals may be absolute or relative (to prior performance of the Company or to the
performance of one or more other entities or external indices) and may be expressed in terms of a progression within a specified range. The foregoing criteria shall have any reasonable definitions
that the Committee may specify, which may include or exclude any or all of the following items, as the Committee may specify: extraordinary, unusual or non-recurring items; effects of
accounting changes; effects of currency fluctuations; effects of financing activities (e.g., effect on earnings per share of issuing convertible debt securities); expenses for restructuring,
productivity initiatives or new business initiatives; non-operating items; acquisition expenses; and effects of divestitures. Any such performance criterion or combination of such criteria
may apply to the participant's award opportunity in its entirety or to any designated portion or portions of the award opportunity, as the Committee may specify. 

ARTICLE IV

SHARES SUBJECT TO THE PLAN  

        4.1   Number of Shares.    Subject to adjustment as provided in  Section 9.11, the number of Shares available for grants of Awards under the Plan
shall be 15,000,000 Shares (which number takes into account a
stock split authorized June 30, 2008, pursuant to which each Share was converted into seventeen (17) Shares). Shares awarded under the Plan may be either: authorized but unissued Shares,
authorized and issued Shares reacquired and held as treasury Shares or a combination thereof. To the extent permitted by applicable law or exchange rules, Shares issued in assumption of, or in
substitution for, any outstanding awards of any entity acquired in any form of combination by the Company or any Subsidiary or Affiliate shall not reduce the Shares available for grants of Awards
under this Section 4.1. The maximum number of shares with respect to which Incentive Stock Options may be granted shall be 15,000,000. 

        4.2   Lapsed Awards.    To the extent that Shares subject to an outstanding Option (except to the extent Shares are
issued or delivered by the Company in connection with the exercise of a tandem SAR) or other Award are not issued or delivered by reason of (i) the expiration, cancellation, forfeiture or other
termination of such Award, (ii) the withholding of such Shares in 

5

 

satisfaction
of applicable federal, state or local taxes or (iii) of the settlement of all or a portion of such Award in cash, then such Shares shall again be available under this Plan. 

ARTICLE V

STOCK OPTIONS  

        5.1   Grant of Options.    Subject to the provisions of the Plan, Options may be granted to Participants at such
times, and subject to such terms and conditions, as determined by the Committee in its sole discretion. An Award of Options may include Incentive Stock Options, Non-Qualified Stock
Options, or a combination thereof; provided, however, that an Incentive Stock Option may only be granted to an Employee of the Company or a Subsidiary and no Incentive Stock Option shall be granted
more than ten years after the earlier of (i) the date this Plan is adopted by the Board or (ii) the date this Plan is approved by the Company's shareholders. 

        5.2   Award Agreement.    Each Option shall be evidenced by an Award Agreement that shall specify the Exercise Price,
the expiration date of the Option, the number of Shares to which the Option pertains, any conditions to the exercise of all or a portion of the Option, and such other terms and conditions as the
Committee, in its discretion, shall determine. The Award Agreement pertaining to an Option shall designate such Option as an Incentive Stock Option or a Non-Qualified Stock Option.
Notwithstanding any such designation, to the extent that the aggregate Fair Market Value (determined as of the Grant Date) of Shares with respect to which Options designated as Incentive Stock Options
are exercisable for the first time by a Participant during any calendar year (under this Plan or any other plan of the Company, or any parent or subsidiary as defined in Section 424 of the
Code) exceeds $100,000, such Options shall constitute Non-Qualified Stock Options. For purposes of the preceding sentence, Incentive Stock Options shall be taken into account in the order
in which they are granted. 

        5.3   Exercise Price.    Subject to the other provisions of this Section, the Exercise Price with respect to Shares
subject to an Option shall be determined by the Committee in its sole discretion; provided, however, that the Exercise Price shall be not less than one hundred percent (100%) of the Fair Market Value
of a Share on the Grant Date; and provided further, that the Exercise Price with respect to an Incentive Stock Option granted to a Ten Percent Holder shall not be less than one hundred and ten percent
(110%) of the Fair Market Value of a Share on the Grant Date. 

        5.4   Expiration Dates.    Each Option shall terminate not later than the expiration date specified in the Award
Agreement pertaining to such Option; provided, however, that the expiration date with respect to an Option shall not be later than the tenth anniversary of its Grant Date and the expiration date with
respect to an Incentive Stock Option granted to a Ten Percent Holder shall not be later than the fifth anniversary of its Grant Date. 

        5.5   Exercisability of Options.    Subject to Section 5.4,
Options granted under the Plan shall be exercisable at such times, and shall be subject to such restrictions and conditions, as the Committee shall determine in its sole discretion. The exercise of an
Option is contingent upon payment by the Optionee of the amount sufficient to pay all taxes required to be withheld by any governmental agency. Such payment may be in any form approved by the
Committee. 

6

 

        5.6   Method of Exercise.    Options shall be exercised by the Participant's delivery of a written notice of exercise
to the General Counsel of the Company (or his or her designee), setting forth the number of Shares with respect to which the Option is to be exercised, accompanied by full payment of the Exercise
Price with respect to each such Share and an amount sufficient to pay all taxes required to be withheld by any governmental agency. The Exercise Price shall be payable to the Company in full in cash
or its equivalent. The Committee, in its sole discretion, also may permit exercise (a) by tendering previously acquired Shares which have been held by the Optionee for at least six months
having an aggregate Fair Market Value at the time of exercise equal to the aggregate Exercise Price of the Shares with respect to which the Option is to be exercised, or (b) by any other means
which the Committee, in its sole discretion, determines to both provide legal consideration for the Shares, and to be consistent with the purposes of the Plan. As soon as practicable after receipt of
a written notification of exercise and full payment for the Shares with respect to which the Option is exercised, the Company shall deliver to the Participant Share certificates (which may be in book
entry form) for such Shares with respect to which the Option is exercised. 

        5.7   Restrictions on Share Transferability.    Incentive Stock Options are not transferable, except by will or the
laws of descent. The Committee may impose such additional restrictions on any Shares acquired pursuant to the exercise of an Option as it may deem advisable, including, but not limited to,
restrictions related to applicable federal securities laws, the requirements of any national securities exchange or system upon which Shares are then listed or traded, or any blue sky or state
securities laws. 

        5.8   Cashing Out of Option.    On receipt of written notice of exercise, the Committee may elect to cash out all or
part of the portion of the Shares for which an Option is being exercised by paying the optionee an amount, in cash or Shares, equal to the excess of the Fair Market Value of the Shares over the option
price times the number of Shares for which the Option is being exercised on the effective date of such cash-out. 

ARTICLE VI

STOCK AWARDS  

        6.1   Grant of Stock Awards.    Subject to the provisions of the Plan, Stock Awards may be granted to such
Participants at such times, and subject to such terms and conditions, as determined by the Committee in its sole discretion. 

        6.2   Stock Award Agreement.    Each Stock Award shall be evidenced by an Award Agreement that shall specify the
number of Shares granted, the price, if any, to be paid for the Shares and the Period of Restriction applicable to a Restricted Stock Award or RSU Award and such other terms and conditions as the
Committee, in its sole discretion, shall determine. 

        6.3   Transferability/Share Certificates.    Shares subject to an Award of Restricted Stock may not be sold,
transferred, pledged, assigned, or otherwise alienated or hypothecated during a Period of Restriction. During the Period of Restriction, a Restricted Stock Award may be registered in the holder's name
or a nominee's name at the discretion of the Company and may bear a legend as described in Section 6.4.2. Unless the Committee determines
otherwise, shares of Restricted Stock shall be held by the Company as escrow agent during the applicable Period of Restriction, together 

7

 

with
stock powers or other instruments of assignment (including a power of attorney), each endorsed in blank with a guarantee of signature if deemed necessary or appropriate by the Company, which
would permit transfer to the Company of all or a portion of the Shares subject to the Restricted Stock Award in the event such Award is forfeited in whole or part. 

        6.4   Other Restrictions.    The Committee, in its sole discretion, may impose such other restrictions on Shares
subject to an Award of Restricted Stock as it may deem advisable or appropriate. 

        6.4.1  General Restrictions.    The Committee may set restrictions based upon applicable federal or state securities
laws, or any other basis determined by the Committee in its discretion. 

        6.4.2  Legend on Certificates.    The Committee, in its sole discretion, may legend the certificates representing
Restricted Stock during the Period of Restriction to give appropriate notice of such restrictions. For example, the Committee may determine that some or all certificates representing Shares of
Restricted Stock shall bear the following legend: "The sale or other transfer of the shares of stock represented by this certificate, whether voluntary, involuntary, or by operation of law, is subject
to certain restrictions on transfer as set forth in the GT Solar International, Inc. 2008 Equity Incentive Plan (the "Plan"), and in a Restricted
Stock Award Agreement (as defined by the Plan). A copy of the Plan and such Restricted Stock Award Agreement may be obtained from the General Counsel of GT Solar International, Inc." 

        6.5   Removal of Restrictions.    Shares of Restricted Stock covered by a Restricted Stock Award made under the Plan
shall be released from escrow as soon as practicable after the termination of the Period of Restriction and, subject to the Company's right to require payment of any taxes, a certificate or
certificates or other document evidencing ownership of the requisite number of Shares shall be delivered to the Participant. 

        6.6   Voting Rights.    During the Period of Restriction, Participants holding Shares of Restricted Stock granted
hereunder may exercise full voting rights with respect to those Shares, unless otherwise provided in the Award Agreement. 

        6.7   Dividends and Other Distributions.    During the Period of Restriction, Participants holding shares of
Restricted Stock shall be entitled to receive all dividends and other distributions paid with respect to such Shares unless otherwise provided in the Award Agreement. If any such dividends or
distributions are paid in Shares, the Shares shall be deposited with the Company and shall be subject to the same restrictions on transferability and forfeitability as the Shares of Restricted Stock
with respect to which they were paid. 

        6.8   Performance Goals and Performance Periods.    The Committee may grant Stock Awards that become earned if the
Participant achieves the applicable Performance Goals during and in respect of the designated Performance Period. The Performance Goals and the Performance Period shall be established by the
Committee, in its sole discretion. The Committee shall establish Performance Goals for each Performance Period prior to, or as soon as practicable after, the commencement of such Performance Period.
The Committee shall also establish a schedule or schedules for the Stock Awards setting forth the portion of the Award which will be earned or 

8

 

forfeited
based on the degree of achievement, or lack thereof, of the Performance Goals at the end of the relevant Performance Period. The Performance Goals shall be defined as to their respective
components and meaning by the Committee (in its sole discretion). During any Performance Period, the Committee shall have the authority to adjust the Performance Goals and/or the Performance Period in
such manner as the Committee, in its sole discretion, deems appropriate at any time and from time to time. The payout of any such Award may be adjusted at the discretion of the Committee. 

ARTICLE VII

STOCK APPRECIATION RIGHTS  

        7.1   Grant of SARs.    Subject to the provisions of the Plan, SARs may be granted to such Participants at such
times, and subject to such terms and conditions, as shall be determined by the Committee in its sole discretion; provided, however, that any tandem SAR (i.e., a SAR granted in tandem with an Option)
related to an Incentive Stock Option shall be granted at the same time that such Incentive Stock Option is granted. 

        7.2   Base Price and Other Terms.    The Committee, subject to the provisions of the Plan, shall have complete
discretion to determine the terms and conditions of SARs granted under the Plan. Without limiting the foregoing, the Base Price with respect to Shares subject to a tandem SAR shall be the same as the
Exercise Price with respect to the Shares subject to the related Option. 

        7.3   SAR Agreement.    Each SAR grant shall be evidenced by an Award Agreement that shall specify the Base Price
(which shall not be less than one hundred percent (100%) of the Fair Market Value of a Share on the Grant Date), the term of the SAR, the conditions of exercise, and such other terms and conditions as
the Committee, in its sole discretion, shall determine. 

        7.4   Expiration Dates.    Each SAR shall terminate no later than the tenth anniversary of its Grant Date; provided,
however, that the expiration date with respect to a tandem SAR shall not be later than the expiration date of the related Option. 

        7.5   Payment of SAR Amount.    Unless otherwise specified in the Award Agreement pertaining to a SAR, a SAR may be
exercised (a) by the Participant's delivery of a written notice of exercise to the General Counsel of the Company (or his or her designee) setting forth the number of whole SARs which are being
exercised, (b) in the case of a tandem SAR, by surrendering to the Company any Options which are cancelled by reason of the exercise of such SAR, and (c) by executing such documents as
the Company may reasonably request. Except as otherwise provided in the relevant Award Agreement, upon exercise of a SAR, the Participant shall be entitled to receive payment from the Company in an
amount determined by multiplying: (i) the amount by which the Fair Market Value of a Share on the date of exercise exceeds the Base Price specified in the Award Agreement pertaining to such
SAR; by (ii) the number of Shares with respect to which the SAR is exercised. 

        7.6   Payment Upon Exercise of SAR.    Payment to a Participant upon the exercise of the SAR shall be made, as
determined by the Committee in its sole discretion, either (a) in cash, (b) in Shares with a Fair Market Value equal to the amount of the payment or (c) in a combination thereof,
as set forth in the applicable Award Agreement. 

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ARTICLE VIII

OTHER STOCK AWARDS  

        Subject to the provisions of the Plan, the Committee may develop sub-plans or grant other equity-based awards ("Other Stock
Awards") on such terms as it may determine, including, but not limited to, Awards designed to comply with or take advantage of applicable local laws of jurisdictions outside of
the United States. Without limiting the foregoing, the Committee may grant "dividend equivalent" Awards that entitle participants, on terms and conditions approved by the Committee, to receive an
amount equal to the dividends that would have been paid during a specified period on the amount of Shares specified in the Award. 

ARTICLE IX

MISCELLANEOUS  

        9.1   No Effect on Employment or Service.    Nothing in the Plan shall interfere with or limit in any way the right
of the Company to terminate any Participant's employment or service at any time, for any reason and with or without cause. 

        9.2   Participation.    No person shall have the right to be selected to receive an Award under this Plan, or, having
been so selected, to be selected to receive a future Award. 

        9.3   Successors.    All obligations of the Company under the Plan, with respect to Awards granted hereunder, shall
be binding on any successor to the Company, whether the existence of such successor is the result of a direct or indirect purchase, merger, consolidation or otherwise, of all or substantially all of
the business or assets of the Company. 

        9.4   Beneficiary Designations.    Subject to the restrictions in  Section 9.5 below, a Participant under the Plan may name a beneficiary or
beneficiaries to whom any vested but unpaid Award shall be paid in the
event of the Participant's death. For purposes of this Section, a beneficiary may include a designated trust having as its primary beneficiary a family member of a Participant. Each such designation
shall revoke all prior designations by the Participant and shall be effective only if given in a form and manner acceptable to the Committee. In the absence of any such designation, any vested
benefits remaining unpaid at the Participant's death shall be paid to the Participant's estate and, subject to the terms of the Plan and of the applicable Award Agreement, any unexercised vested Award
may be exercised by the administrator or executor of the Participant's estate. 

        9.5   Nontransferability of Awards.    No Award granted under the Plan may be sold, transferred, pledged, assigned,
or otherwise alienated or hypothecated, other than by will, by the laws of descent and distribution; provided, however, that except as provided by in the relevant Award Agreement, a Participant may
transfer, without consideration, an Award other than an Incentive Stock Option to one or more members of his or her Immediate Family, to a trust established for the exclusive benefit of one or more
members of his or her Immediate Family, to a partnership in which all the partners are members of his or her Immediate Family, or to a limited liability company in which all the members are members of
his or her Immediate Family; provided, further, that any such Immediate Family, and any such trust, partnership and limited liability company, shall agree to be and shall be bound by the terms of the
Plan, and by the terms and 

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provisions
of the applicable Award Agreement and any other agreements covering the transferred Awards. All rights with respect to an Award granted to a Participant shall be available during his or her
lifetime only to the Participant and may be exercised only by the Participant or the Participant's legal representative. 

        9.6   No Rights as Stockholder.    Except to the limited extent provided in Sections
6.6 and 6.7, no Participant (nor any beneficiary) shall have any of the rights or privileges of a stockholder of the Company
with respect to any Shares issuable pursuant to an Award (or exercise thereof), unless and until certificates representing such Shares shall have been issued, recorded on the records of the Company or
its transfer agents or registrars, and delivered to the Participant (or beneficiary). 

        9.7   Withholding Requirements.    Prior to the delivery of any Shares or cash pursuant to an Award (or exercise
thereof), the Company shall have the power and the right to deduct or withhold, or require a Participant to remit to the Company, an amount sufficient to satisfy any federal, state, local and foreign
taxes of any kind (including, but not limited to, the Participant's FICA and SDI obligations) which the Committee, in its sole discretion, deems necessary to be withheld or remitted to comply with the
Code and/or any other applicable law, rule or regulation with respect to such Award (or exercise thereof). 

        9.8   Withholding Arrangements.    The Committee, in its sole discretion and pursuant to such procedures as it may
specify from time to time, may permit or require a Participant to satisfy all or part of the tax withholding obligations in connection with an Award by (a) having the Company withhold otherwise
deliverable Shares, or (b) delivering to the Company already-owned Shares, in each case having a Fair Market Value equal to the amount sufficient to satisfy the minimum statutory tax
withholding obligations, provided such Shares have been held by the Participant for at least six months. 

        9.9   No Corporate Action Restriction.    The existence of the Plan, any Award Agreement and/or the Awards granted
hereunder shall not limit, affect or restrict in any way the right or power of the Board or the shareholders of the Company to make or authorize (a) any adjustment, recapitalization,
reorganization or other change in the Company's or any Subsidiary's or Affiliate's capital structure or business, (b) any merger, consolidation or change in the ownership of the Company or any
Subsidiary or Affiliate, (c) any issue of bonds, debentures, capital, preferred or prior preference stocks ahead of or affecting the Company's or any Subsidiary's or Affiliate's capital stock
or the rights thereof, (d) any dissolution or liquidation of the Company or any Subsidiary or Affiliate, (e) any sale or transfer of all or any part of the Company's or any Subsidiary's
or Affiliate's assets or business, or (f) any other corporate act or proceeding by the Company or any Subsidiary or Affiliate. No Participant, beneficiary or any other person shall have any
claim against any Member of the Board or the Committee, the Company or any Subsidiary or Affiliate, or any employees, officers, shareholders or agents of the Company or any Subsidiary or Affiliate, as
a result of any such action. 

        9.10 Restrictions on Shares.    Each Award made hereunder shall be subject to the requirement that if at any time
the Company determines that the listing, registration or qualification of the Shares subject to such Award upon any securities exchange or under any law, or the consent or approval of any governmental
body, or the taking of any other action is necessary or desirable as a condition of, or in connection with, the exercise or settlement of such Award or the delivery of 

11

 

Shares
thereunder, such Award shall not be exercised or settled and such Shares shall not be delivered unless such listing, registration, qualification, consent, approval or other action shall have
been effected or obtained, free of any conditions not acceptable to the Company. The Company may require that certificates evidencing Shares delivered pursuant to any Award made hereunder bear a
legend indicating that the sale, transfer or other disposition thereof by the holder is prohibited except in compliance with the Securities Act of 1933, as amended, and the rules and regulations
thereunder. Finally, no Shares shall be issued and delivered under the Plan, unless the issuance and delivery of those Shares shall comply with all relevant regulations and any registration, approval
or action thereunder. 

        9.11 Changes in Capital Structure.    In the event that any dividend or distribution of Shares, recapitalization,
stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, change of control or exchange of Shares or other securities of the
Company, or other corporate transaction or event (each a "Corporate Event") affects the Shares, the Board shall, in such manner as it in good faith
deems equitable, adjust any or all of (i) the number of Shares or other securities of the Company (or number and kind of other securities or property) with respect to which Awards may be
granted, (ii) the number of Shares or other securities of the Company (or number and kind of other securities or property) subject to outstanding Awards, and (iii) the Exercise Price or
Base Price with respect to any Award, or make provision for an immediate cash payment to the holder of an outstanding Award in consideration for the cancellation of such Award. 

        If
the Company enters into or is involved in any Corporate Event, the Board may, prior to such Corporate Event and effective upon such Corporate Event, take such action as it deems
appropriate, including, but not limited to, replacing Awards with substitute awards in respect of the Shares, other securities or other property of the surviving corporation or any affiliate of the
surviving corporation on such terms and conditions, as to the number of shares, pricing and otherwise, which shall substantially preserve the value, rights and benefits of any affected Awards granted
hereunder as of the date of the consummation of the Corporate Event. Notwithstanding anything to the contrary in the Plan, if any Corporate Event occurs, the Company shall have the right, but not the
obligation, to: (i) accelerate the partial or full exercisability of each Participant's Awards following the public announcement of such Corporate Event, (ii) cancel each Participant's
Awards that have not become exercisable and are not scheduled to become exercisable immediately prior to such Corporate Event, (iii) permit each Participant, at his or her election and within
any time period as the Committee may prescribe, to surrender such Participant's Awards (or any portion thereof) and to pay to each affected Participant in connection with the cancellation of such
Participant's Awards, an amount equal that the Committee, in its sole discretion, in good faith determines to be the equivalent value of such Award (e.g., in the case of an Option or SAR, the amount
of the spread), it being understood that the equivalent value of an Option or SAR with an exercise price greater than or equal to the fair market value of the underlying stock shall be $0 and
(iv) require each Participant to surrender his or her Awards (or any portion thereof) (A) in exchange for cash payment as described in clause (iii) or (B) in exchange for
another Award which the Committee, in the good faith exercise of its business judgment, determines to have a value substantially equivalent to the value of the Award surrendered. 

        Upon
receipt by any affected Participant of any such substitute awards (or payment) as a result of any such Corporate Event, such Participant's affected Awards for which such substitute 

12

 

awards
(or payment) were received shall be thereupon cancelled without the need for obtaining the consent of any such affected Participant. Any actions or determinations of the Committee under this  Section 9.11 need not be uniform as to all outstanding Awards, nor treat all Participants identically. 

ARTICLE X

AMENDMENT, TERMINATION AND DURATION  

        10.1 Amendment, Suspension or Termination.    The Board, in its sole discretion, may amend, suspend or terminate
the Plan, or any part thereof, at any time and for any reason, subject to any requirement of stockholder approval required by applicable law, rule or regulation, including, without limitation,
Section 422 of the Code, Section 162(m) of the Code and the rules of the Nasdaq Stock Market, LLC; provided, however, the Board may amend the Plan and any Award Agreement, including
without limitation retroactive amendments, without shareholder approval as necessary to avoid the imposition of any taxes under Section 409A of the Code. Subject to the preceding sentence, the
amendment, suspension or termination of the Plan shall not, without the consent of the Participant, materially adversely alter or impair any rights or obligations under any Award theretofore granted
to such Participant. Notwithstanding the foregoing, the Committee may, but shall not be required to, amend or modify any Award to the extent necessary to avoid the imposition of taxes under
Section 409A of the Code. The Company intends to administer the Plan and all Awards granted thereunder in a manner that complies with Code Section 409A, however, the Company shall not be
responsible for any additional tax imposed pursuant to Code Section 409A, nor will the Company indemnify or otherwise reimburse Participant for any liability incurred as a result of Code
Section 409A. No Award may be granted during any period of suspension or after termination of the Plan. Notwithstanding anything in this Plan to the contrary and subject to  Section 9.11,
without the approval of stockholders of the Company, no amendment and no substitution or exchange of an outstanding Award shall
reduce the exercise price of any outstanding Option, Base Price of any outstanding SAR, or purchase price of any other outstanding Award conferring a right to purchase Stock to an amount less than the
Fair Market Value of a share at the date of grant of the outstanding Award. 

        10.2 Duration of the Plan.    The Plan shall, subject to  Section 10.1 terminate ten years after adoption by the Board, unless earlier terminated by
the Board and no further Awards shall be granted under
the Plan. The termination of the Plan shall not affect any Awards granted prior to the termination of the Plan. 

ARTICLE XI

LEGAL CONSTRUCTION  

        11.1 Gender and Number.    Except where otherwise indicated by the context, any masculine term used herein also
shall include the feminine; the plural shall include the singular and the singular shall include the plural. 

        11.2 Severability.    In the event any provision of the Plan or of any Award Agreement shall be held illegal or
invalid for any reason, the illegality or invalidity shall not affect the remaining parts of the Plan or the Award Agreement, and the Plan and/or the Award Agreement shall be construed and enforced as
if the illegal or invalid provision had not been included. 

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        11.3 Requirements of Law.    The granting of Awards and the issuance of Shares under the Plan shall be subject to
all applicable laws, rules and regulations, and to such approvals by any governmental agencies or national securities exchanges as may be required. 

        11.4 Governing Law; Waiver of Jury Trial.    The Plan and all Award Agreements shall be construed in accordance
with and governed by the laws of the State of Delaware, but without regard to its conflict of law provisions. Participant hereby agrees to waive all rights to trial by jury in any proceeding (whether
based on contract, tort or otherwise) arising out of or relating to any Award Agreement. 

        11.5 Captions.    Captions are provided herein for convenience only, and shall not serve as a basis for
interpretation or construction of the Plan. 

        11.6 Incentive Stock Options.    Should any Option granted under this Plan be designated an "Incentive Stock
Option," but fail, for any reason, to meet the requirements of the Code for such a designation, then such Option shall be deemed to be a Non-Qualified Stock Option and shall be valid as
such according to its terms. 

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QuickLinks

Exhibit 10.34

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