Document:

exv10w5

	 	 	 	 	 

Exhibit 10.5

EVERGREEN SOLAR, INC

Management Incentive Plan

The purpose of the Management Incentive Plan (‘the plan”) is to recognize and reward eligible
employees of Evergreen Solar, Inc. (the “Company”) for the business performance of the
organization. Quarterly performance goals are established for the plan on a semi-annual basis.
Payment to plan participants is made quarterly for those goals with quarterly targets and annually
for goals with annual targets, based on actual results against plan.

Objectives

	 	•	 	Promote strong linkage between employee contributions and overall Company performance
that enhances shareholder value.
	 
	 	•	 	Reward performance that directly supports the achievement of Company business objectives.
	 
	 	•	 	Attract and retain critical technical and management talent necessary for the Company’s success.
	 
	 	•	 	Provide the opportunity for a significant component of each employee’s compensation to
be based on company performance.

Eligibility

Plan participants will include: CEO, VPs, Sr. Director, Director, Manager and all other
Professional staff. The plan allows the inclusion of other non-referenced employees as approved by
the CEO or Compensation Committee.

Participation in the Management Incentive Plan will be based on position level in the company at
the beginning of each calendar quarter. Employees hired or promoted after the beginning of the
calendar quarter will be eligible for participation in the Management Incentive Plan on a pro-rated
based, determined by using the promotion date or hire date.

Plan participants must be employed on the last day of the calendar quarter in order to be eligible
for participation in the plan for that quarter.

Plan participants who are on a leave of absence (LOA) are eligible for a pro-rated quarterly
payment based on the amount of time they were actively at work.

Plan participants who have been counseled or disciplined during the applicable quarter will not be
eligible for a bonus payment. Eligibility in following quarters will depend upon a determination
by the functional VP and CEO that the individual is performing at least at a “Meets Expectations”
level and has satisfactorily addressed any prior performance or other disciplinary issue.

 

 

The following table identifies eligible participants and the targeted bonus level:

Individual Participation Levels

	 	 	 	 	 
	 	 	Incentive Target (% of base salary
	Position Level*	 	assuming 100% attainment of plan target)
	 
	Level 7 (CEO)
	 	 	100	%
	 
	 	 	 	 
	Level 6 (Executive Officer Level
Vice Presidents)
	 	 	75	%
	 
	 	 	 	 
	Level 5 (Other Vice Presidents)
	 	 	60	%
	 
	 	 	 	 
	Level 4 (Senior Director)
	 	 	50	%
	 
	 	 	 	 
	Level 3 (Director, Manager,
Sr. Member of Professional/
Engineering Staff)
	 	 	25	%
	 
	 	 	 	 
	Level 2 (Member of Professional/
Engineering Staff, Professional,
Clerical and Administrative Staff)
	 	 	10	%
	 
	 	 	 	 
	Level 1(Technicians**)
	 	 	5	%

 

			
	*	 	Actual incentive targets for level 1-5 participants could be higher or lower than those listed
above as the CEO has discretion to designate alternate target participation levels from the
foregoing list for non-executive officers and the Compensation Committee and the Board have
discretion to designate alternate target participation levels for executive officers.
	 
	**	 	Technicians also participate in the quarterly production bonus plan.

Actual Management Incentive Plan payments can be more or less than the targeted amount based
on actual performance against plan target.

Plan Targets

Plan targets for the purposes of this bonus plan will be determined by attainment of identified
financial, strategic or departmental objectives, which may consist of quantifiable and qualitative
factors. Incentive awards made pursuant to this plan ultimately are discretionary and do not
constitute “wages” under any federal or state payment of wages or wage and hour law.

The CEO, in conjunction with the Compensation Committee, reserves the right to amend or change plan
targets at any time during the plan year on a go-forward basis, if such a change is deemed to be in
the best interest of Evergreen Solar, Inc.

The CEO and the Compensation Committee also reserve the right to make discretionary bonus payments
to plan and non-plan participants, based on their contribution to Evergreen Solar goals and
objectives, regardless of the achievement of plan targets.

2

 

Establishment of Company Plan Targets

The CEO will recommend plan targets to the Compensation Committee. Targets can be a combination of
financial, strategic and/or departmental objectives and can vary from one plan year to the next.
Quarterly targets are established for the plan on a semi-annual basis.

Determination and Approval of Company Performance Results and Departmental Objective Results

The CEO will review Company performance with the Compensation Committee each quarter. Upon
approval from the Compensation Committee, Management Incentive Plan calculations will be initiated
and payment will be made to eligible participants.

Awards will be paid in lump sums (subject to applicable withholding) as soon as practical following
the Compensation Committee’s quarterly approval, but in no event later than March 15th
of calendar year following the calendar year in which a quarterly amount is no longer subject to a
“substantial risk of forfeiture” for purposes of Section 409A of the Internal Revenue Code (i.e. by
March 15th of the calendar year following the year of vesting).

Approved by the Compensation Committee
of the Board of Directors on April 28, 2010

3exv10w6

Exhibit 10.6

CONFIDENTIAL TREATMENT REQUESTED: Certain portions of this document have been omitted pursuant to a
request for confidential treatment and, where applicable, have been marked with an asterisk
(“[****]”) to denote where omissions have been made. The confidential material has been filed
separately with the Securities and Exchange Commission.

EVERGREEN SOLAR, INC.

Amendment effective on or about January 1, 2010

to Master Supply Agreement with

IBC Solar AG, dated July 14, 2008

The following prices shall be effective January 1, 2010 and update prices for the specified
products on a temporary basis [****]:

	 	•	 	For [****] Product: €[****]

			
	 	 	 
	Evergreen Solar, Inc.
	 	IBC Solar AGexv10w7

Exhibit 10.7

CONFIDENTIAL TREATMENT REQUESTED: Certain portions of this document have been omitted pursuant to a
request for confidential treatment and, where applicable, have been marked with an asterisk
(“[****]”) to denote where omissions have been made. The confidential material has been filed
separately with the Securities and Exchange Commission.

EVERGREEN SOLAR, INC.

Amendment effective on or about January 1, 2010

to Master Supply Agreement with

Wagner & Co Solartechnik GmbH dated June 18, 2008

The following prices shall be effective January 1, 2010 on a temporary basis [****]:

	 	•	 	[****]: €[****]
	 
	 	•	 	[****]: €[****]
	 
	 	•	 	[****]: €[****]
	 
	 	•	 	[****]: €[****]
	 
	 	•	 	[****]: €[****]
	 
	 	•	 	[****]: €[****]

			
	 	 	 
	Evergreen Solar, Inc.
	 	Wagner & Co Solartechnik GmbHexv10w1

Exhibit 10.1

FIRST AMENDMENT

TO REVOLVING CREDIT AND TERM LOAN AGREEMENT

     THIS FIRST AMENDMENT TO REVOLVING CREDIT AND TERM LOAN AGREEMENT (“First Amendment”), dated as
of May 12, 2010, is made and entered into by and among MOTORCAR PARTS OF AMERICA, INC., a New York
corporation (“Borrower”), UNION BANK, N.A., a national banking association, in its capacity as
Administrative Agent (“Administrative Agent”), UNION BANK, N.A., a national banking association, in
its capacity as a Lender (“Union Bank”), and BRANCH BANKING & TRUST COMPANY, a North Carolina
banking corporation, in its capacity as a Lender (“BB&T”) (Union Bank and BB&T herein called
“Lenders”).

RECITALS:

     A. Borrower, Administrative Agent and Lenders are parties to that certain Revolving Credit
and Term Loan Agreement dated as of October 28, 2009 (the “Agreement”), pursuant to which each
Lender severally agreed to extend credit to Borrower in the amounts provided for therein.

     B. Borrower, Administrative Agent and Lenders desire to increase the Reserve Amount (as such
term is defined in Section 1.1 of the Agreement) from Seven Million Five Hundred Thousand Dollars
($7,500,000) to Ten Million Dollars ($10,000,000), subject, however, to the terms and conditions of
this First Amendment.

AGREEMENT:

     In consideration of the above recitals and of the mutual covenants and conditions contained
herein, Borrower, Administrative Agent and Lenders agree as follows:

1. Defined Terms. Initially capitalized terms used herein which are not otherwise defined
shall have the meanings assigned thereto in the Agreement.

2. Amendment To The Agreement. The definition of “Reserve Amount” appearing in Section 1.1
of the Agreement is hereby amended to read in full as follows:

          “‘Reserve Amount’ means the amount of the Reserve, which shall be Ten Million Dollars
($10,000,000).”

3. Effectiveness Of This First Amendment. This First Amendment shall become effective as
of the date hereof when, and only when, Administrative Agent shall have received all of the
following, in form and substance satisfactory to Administrative Agent:

     (a) A counterpart of this First Amendment, duly executed by Borrower;

 

 

     (b) An amendment fee, for the ratable account of the Lenders, in the sum of Fifteen Thousand
Dollars ($15,000), which amendment fee shall be non-refundable;

     (c) A legal documentation fee, for the sole account of the Administrative Agent, in the sum of
Six Hundred Dollars ($600), which legal documentation fee shall be non-refundable; and

     (d) Such other documents, instruments or agreements as Administrative Agent may reasonably
deem necessary in order to effect fully this First Amendment.

4. Ratification.

     (a) Except as specifically amended hereinabove, the Agreement shall remain in full force and
effect and is hereby ratified and confirmed; and

     (b) Upon the effectiveness of this First Amendment, each reference in the Agreement to “this
Agreement”, “hereunder”, “herein”, “hereof” or words of like import referring to the Agreement
shall mean and be a reference to the Agreement as amended by this First Amendment.

5. Representations and Warranties. Borrower represents and warrants as follows:

     (a) Each of the representations and warranties contained in Article V of the Agreement, as
amended hereby, is hereby reaffirmed as of the date hereof, each as if set forth herein;

     (b) The execution, delivery and performance of this First Amendment are within Borrower’s
corporate powers, have been duly authorized by all necessary corporate action, have received all
necessary approvals, if any, and do not contravene any law or any contractual restriction binding
on Borrower; and

     (c) No event has occurred and is continuing or would result from this First Amendment which
constitutes an Event of Default under the Agreement, or would constitute an Event of Default under
the Agreement, but for the requirement that notice be given or time elapse or both.

6. Governing Law. This First Amendment shall be deemed a contract under and subject to,
and shall be construed for all purposes and in accordance with, the laws of the State of
California.

7. Counterparts. This First Amendment may be executed in two or more counterparts, each of
which shall be deemed an original and all of which together shall constitute one and the same
instrument.

 

 

     IN WITNESS WHEREOF, the parties hereto have executed this First Amendment as of the date and
year first above written.

	 	 	 	 	 
	MOTORCAR PARTS OF AMERICA, INC.,

as Borrower

 	 	 
	By:  	/s/ Selwyn Joffe
 	 	 
	 	Selwyn Joffe 	 	 
	 	Chief Executive Officer 	 	 
	 
 
	UNION BANK, N.A.,

in its capacity as Administrative Agent and as a Lender

 	 	 
	By:  	/s/ Rafael Vistan
 	 	 
	 	Rafael Vistan 	 	 
	 	Vice President 	 	 
	 
 
	BRANCH BANKING & TRUST COMPANY,

in its capacity as a Lender

 	 	 
	By:  	/s/ Kenneth M. Blackwell
 	 	 
	 	Kenneth M. Blackwell 	 	 
	 	Senior Vice President

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