Document:

RESTRICTED
      STOCK AGREEMENT

    

    CAMPUSU,
      INC.

     

    AGREEMENT
      made as of the _______ day
      of
      ___________________, 200__ (the “Grant Date”), between CampusU,
      Inc.
      (the
“Company”), a Delaware corporation, and ________________________
      (the
“Participant”).

    

    WHEREAS,
      the Company has adopted the CampusU,
      Inc. 2007 Equity Incentive Plan 
      (the
“Plan”) to promote the interests of the Company by providing an incentive for
      employees, directors and consultants of the Company or its
      Affiliates;

    

    WHEREAS,
      pursuant to the provisions of the Plan, the Company desires to offer to the
      Participant shares of the Company’s common stock, $.0001 par value per share
      (“Common Stock”), in accordance with the provisions of the Plan, all on the
      terms and conditions hereinafter set forth;

    

    WHEREAS,
      Participant wishes to accept said offer; and

    

    WHEREAS,
      the parties hereto understand and agree that any terms used and not defined
      herein have the meanings ascribed to such terms in the Plan.

    

    NOW,
      THEREFORE, in consideration of the premises and the mutual covenants contained
      herein and for other good and valuable consideration, the receipt and
      sufficiency of which are hereby acknowledged, the parties hereto hereby agree
      as
      follows:

    

    1. Terms
      of Grant.
      The
      Participant hereby accepts the offer of the Company to issue to the Participant,
      in accordance with the terms of the Plan and this Agreement, ______________________
      (_________) Shares
      of
      the Company’s Common Stock (such shares, subject to adjustment pursuant to
      Section 24 of the Plan and Subsection 2.1(h) hereof, the “Granted Shares”) at a
      purchase price of $.[par
      value] per
      share
      (the “Purchase Price”), receipt of which is hereby acknowledged by the
      Participant’s prior service to the Company and which amount will be reported as
      income on the Participant’s W-2 for this calendar year1 .

     

    2.1. Forfeiture
      Provisions.

    

    (a) Lapsing
      Forfeiture Right.
      In the
      event that for any reason the Participant is no longer an employee, director
      or
      consultant of the Company or an Affiliate prior to __________________ (the
      “Termination”), the Participant (or the Participant’s Survivor) shall, on the
      date of Termination, immediately forfeit to the Company (or its designee) all
      of
      the Granted Shares which have not yet lapsed in accordance with the schedule
      set
      forth below (the “Lapsing Forfeiture Right”). 

    

    The
      Company’s Lapsing Forfeiture Right is as follows:

    

    (i) If
      the
      Participant’s Termination is prior to [the
      first anniversary of the Grant Date],
      all of
      the Granted Shares shall be forfeited to the Company.

    
       

      
        

      

    

    
      1 
        Consider
        statutory minimum purchase price per share, if applicable (e.g., Delaware
        requires at least par value).

       

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (ii) If
      the
      Participant’s Termination is on or after [the
      first anniversary of the Grant Date]
      but
      prior to _______________, __% of the Granted Shares shall be forfeited to the
      Company (rounded up to the next highest whole number of shares). 

    

    (b) Effect
      of Termination for Disability or upon Death.
      The
      following rules apply if the Participant’s Termination is by reason of
      Disability or death: to the extent the Company’s Lapsing Forfeiture Right has
      not lapsed as of the date of Disability or death, as case may be, the
      Participant shall forfeit to the Company any or all of the Granted Shares
      subject to such Lapsing Forfeiture Right; provided, however, that the Company’s
      Lapsing Forfeiture Right shall be deemed to have lapsed to the extent of a
      pro
      rata portion of the Granted Shares through the date of Disability or death,
      as
      would have lapsed had the Participant not become Disabled or died, as the case
      may be. The proration shall be based upon the number of days accrued in such
      current vesting period prior to the Participant’s date of Disability or death,
      as the case may be.

    

    (c) Effect
      of a For Cause Termination. Notwithstanding
      anything to the contrary contained in this Agreement, in the event the Company
      or an Affiliate terminates the Participant’s employment or service for
“cause” (as
      defined in the Plan) or in the event the Administrator determines, within one
      year after the Participant’s termination, that either prior or subsequent to the
      Participant’s termination the Participant engaged in conduct that would
      constitute “cause,” all of the Granted Shares then held by the Participant shall
      be forfeited to the Company immediately as of the time the Participant is
      notified that he or she has been terminated for “cause” or that he or she
      engaged in conduct which would constitute “cause”.

    

    [(d) Effect
      of Change of Control.
      Except as otherwise provided in Subsection 2.1(c) above, the Company’s Lapsing
      Forfeiture Right shall terminate, and the Participant’s ownership of all Granted
      Shares then owned by the Participant shall become vested in accordance with
      the
      terms and conditions set forth in Section 24B of the
      Plan.]

    

    (e) Escrow.
      The
      certificates representing all Granted Shares acquired by the Participant
      hereunder which from time to time are subject to the Lapsing Forfeiture Right
      shall be delivered to the Company and the Company shall hold such Granted Shares
      in escrow as provided in this Subsection 2.1(e). The Company shall promptly
      release from escrow and deliver to the Participant a certificate for the whole
      number of Granted Shares, if any, as to which the Company’s Lapsing Forfeiture
      Right has lapsed. In the event of forfeiture to the Company of Granted Shares
      subject to the Lapsing Forfeiture Right, the Company shall release from escrow
      and cancel a certificate for the number of Granted Shares so forfeited. Any
      securities distributed in respect of the Granted Shares held in escrow,
      including, without limitation, shares issued as a result of stock splits, stock
      dividends or other recapitalizations, shall also be held in escrow in the same
      manner as the Granted Shares. 

    

    (f) Prohibition
      on Transfer.
      The
      Participant recognizes and agrees that all Granted Shares which are subject
      to
      the Lapsing Forfeiture Right may not be sold, transferred, assigned,
      hypothecated, pledged, encumbered or otherwise disposed of, whether voluntarily
      or by operation of law, other than to the Company (or its designee).
 However,
      the Participant, with the approval of the Administrator, may transfer the
      Granted Shares for no consideration to or for the benefit of the Participant’s
      Immediate Family (including, without limitation, to a trust for the benefit
      of
      the Participant’s Immediate Family or to a partnership or limited liability
      company for one or more members of the Participant’s Immediate Family), subject
      to such limits as the Administrator may establish, and the transferee shall
      remain subject to all the terms and conditions applicable to this Agreement
      prior to such transfer and each such transferee shall so acknowledge in writing
      as a condition precedent to the effectiveness of such transfer. The term
“Immediate Family” shall mean the Participant’s spouse, former spouse, parents,
      children, stepchildren, adoptive relationships, sisters, brothers, nieces and
      nephews and grandchildren (and, for this purpose, shall also include the
      Participant. The
      Company shall not be required to transfer any Granted Shares on its books which
      shall have been sold, assigned or otherwise transferred in violation of this
      Subsection 2.1(f), or to treat as the owner of such Granted Shares, or to accord
      the right to vote as such owner or to pay dividends to, any person or
      organization to which any such Granted Shares shall have been so sold, assigned
      or otherwise transferred, in violation of this Subsection 2.1(f).

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    (g) Failure
      to Deliver Granted Shares to be Forfeited.
      In the
      event that the Granted Shares to be forfeited to the Company under this
      Agreement are not in the Company’s possession pursuant to Subsection 2.1(e)
      above or otherwise and the Participant or the Participant’s Survivor fails to
      deliver such Granted Shares to the Company (or its designee), the Company may
      immediately take such action as is appropriate to transfer record title of
      such
      Granted Shares from the Participant to the Company (or its designee) and treat
      the Participant and such Granted Shares in all respects as if delivery of such
      Granted Shares had been made as required by this Agreement. The Participant
      hereby irrevocably grants the Company a power of attorney which shall be coupled
      with an interest for the purpose of effectuating the preceding
      sentence.

    

    (h) Adjustments.
      The
      Plan contains provisions covering the treatment of Shares in a number of
      contingencies such as stock splits and mergers. Provisions in the Plan for
      adjustment with respect to the Granted Shares and the related provisions with
      respect to successors to the business of the Company are hereby made applicable
      hereunder and are incorporated herein by reference.

    

    
      	 	
              2.2

            	
              General
                Restrictions on Transfer of Granted Shares.
                

            

    

    

    (a) The
      Participant agrees that in the event the Company proposes to offer for sale
      to
      the public any of its equity securities and such Participant is requested by
      the
      Company and any underwriter engaged by the Company in connection with such
      offering to sign an agreement restricting the sale or other transfer of Shares,
      then it will promptly sign such agreement and will not transfer, whether in
      privately negotiated transactions or to the public in open market transactions
      or otherwise, any Shares or other securities of the Company held by him or
      her
      during such period as is determined by the Company and the underwriters, not
      to
      exceed 90 days following the closing of the offering, plus such additional
      period of time as may be required to comply with Marketplace Rule 2711 of the
      National Association of Securities Dealers, Inc. or similar rules thereto (such
      period, the “Lock-Up Period”). Such agreement shall be in writing and in form
      and substance reasonably satisfactory to the Company and such underwriter and
      pursuant to customary and prevailing terms and conditions. Notwithstanding
      whether the Participant has signed such an agreement, the Company may impose
      stop-transfer instructions with respect to the Shares or other securities of
      the
      Company subject to the foregoing restrictions until the end of the Lock-Up
      Period.

    

    (b) The
      Participant acknowledges and agrees that neither the Company nor, its
      shareholders nor its directors and officers, has any duty or obligation to
      disclose to the Participant any material information regarding the business
      of
      the Company or affecting the value of the Shares before, at the time of, or
      following a Termination, including, without limitation, any information
      concerning plans for the Company to make a public offering of its securities
      or
      to be acquired by or merged with or into another firm or entity.

    

    3. Securities
      Law Compliance.
      The
      Participant specifically acknowledges and agrees that any sales of Granted
      Shares shall be made in accordance with the requirements of the Securities
      Act
      of 1933, as amended.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    4. Rights
      as a Stockholder.
      The
      Participant shall have all the rights of a stockholder with respect to the
      Granted Shares, including voting and dividend rights, subject to the transfer
      and other restrictions set forth herein and in the Plan.

    

    5. Legend.
      In
      addition to any legend required pursuant to the Plan, all certificates
      representing the Granted Shares to be issued to the Participant pursuant to
      this
      Agreement shall have endorsed thereon a legend substantially as
      follows:

    

    “The
      shares represented by this certificate are subject to restrictions set forth
      in
      a Restricted Stock Agreement dated as of ____________________ with this Company,
      a copy of which Agreement is available for inspection at the offices of the
      Company or will be made available upon request.”

    

    6. Incorporation
      of the Plan.
      The
      Participant specifically understands and agrees that the Granted Shares issued
      under the Plan are being sold to the Participant pursuant to the Plan, a copy
      of
      which Plan the Participant acknowledges he or she has read and understands
      and
      by which Plan he or she agrees to be bound. The provisions of the Plan are
      incorporated herein by reference.

    

    7. Tax
      Liability of the Participant and Payment of Taxes.
      The
      Participant acknowledges and agrees that any income or other taxes due from
      the
      Participant with respect to the Granted Shares issued pursuant to this
      Agreement, including, without limitation, the Lapsing Forfeiture Right, shall
      be
      the Participant’s responsibility. Without limiting the foregoing, the
      Participant agrees that, to the extent that the lapsing of restrictions on
      disposition of any of the Granted Shares or the declaration of dividends on
      any
      such shares before the lapse of such restrictions on disposition results in
      the
      Participant’s being deemed to be in receipt of earned income under the
      provisions of the Code, the Company shall be entitled to immediate payment
      from
      the Participant of the amount of any tax required to be withheld by the
      Company.

    

    Upon
      execution of this Agreement, the Participant may file an election under Section
      83 of the Code in substantially the form attached as Exhibit
      B.
      The
      Participant acknowledges that if he does not file such an election, as the
      Granted Shares are released from the Lapsing Forfeiture Right in accordance
      with
      Section 2.1, the Participant will have income for tax purposes equal to the
      fair
      market value of the Granted Shares at such date, less the price paid for the
      Granted Shares by the Participant. The Participant has been given the
      opportunity to obtain the advice of his or her tax advisors with respect to
      the
      tax consequences of the purchase of the Granted Shares and the provisions of
      this Agreement.2

     

    
      [If
        the
        Participant has not filed an election under Section 83 of the Code, the
        Participant shall be required to deposit with the Company an amount of cash
        equal to the amount determined by the Company to be required with respect
        to the
        statutory minimum of the Participant’s estimated total federal, state and local
        tax obligations associated with the termination of the Lapsing Forfeiture
        Right
        with respect to the Granted Shares. In connection with the foregoing, the
        Participant agrees that the Company shall authorize a registered broker(s)
        (the
“Broker”) to sell on the date that the Granted Shares shall be released from the
        Lapsing Forfeiture Right such number of Granted Shares as the Company instructs
        the Broker to sell to satisfy the Company’s withholding obligations, after
        deduction of the Broker’s commission, and the Broker shall remit to the Company
        the cash necessary in order for the Company to satisfy its withholding
        obligation. The Company shall not deliver any of the Granted Shares until
        the
        deposit required herein for withholding has been made. In connection with
        such
        sale of Granted Shares, the Participant shall execute any such documents
        requested by Broker in order to effectuate the sale of the Granted Shares
        and
        payment of the withholding obligation to the Company.] 

    

     

    
      

    

    2 
      If
      the
      Shares are purchased at fair market value then the 83(b) election would be
      protective in nature and would not result in any additional tax on purchase
      of
      the Shares. If the Shares are being purchased at a discount from fair market
      value, the 83(b) election accelerates the timing of the taxation to the time
      of
      the grant, and later dispositions are taxed at capital gain rates. If the 83(b)
      election is not made then the tax is paid at the time the restrictions lapse
      (which could result in a higher possible taxable spread at that time). An 83(b)
      election must be made within 30 days of the grant.

     

    If
      the
      Company pays cash dividends and an 83(b) election is filed, dividends receive
      dividend tax treatment. However, if no 83(b) election is made (as is the case
      with most public companies) the Employee will pay ordinary income tax rates
      on
      the cash dividend payments until the restrictions on the shares underlying
      those
      dividends lapse.

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    8. Equitable
      Relief.
      The
      Participant specifically acknowledges and agrees that in the event of a breach
      or threatened breach of the provisions of this Agreement or the Plan, including
      the attempted transfer of the Granted Shares by the Participant in violation
      of
      this Agreement, monetary damages may not be adequate to compensate the Company,
      and, therefore, in the event of such a breach or threatened breach, in addition
      to any right to damages, the Company shall be entitled to equitable relief
      in
      any court having competent jurisdiction. Nothing herein shall be construed
      as
      prohibiting the Company from pursuing any other remedies available to it for
      any
      such breach or threatened breach.

    

    9. No
      Obligation to Maintain Relationship.
      The
      Company is not by the Plan or this Agreement obligated to continue the
      Participant as an employee, director or consultant of the Company or an
      Affiliate. The Participant acknowledges: (i) that the Plan is discretionary
      in
      nature and may be suspended or terminated by the Company at any time; (ii)
      that
      the grant of the Shares is a one-time benefit which does not create any
      contractual or other right to receive future grants of shares, or benefits
      in
      lieu of shares; (iii) that all determinations with respect to any such future
      grants, including, but not limited to, the times when shares shall be granted,
      the number of shares to be granted, the purchase price, and the time or times
      when each share shall be free from a lapsing repurchase or forfeiture right,
      will be at the sole discretion of the Company; (iv) that the Participant’s
      participation in the Plan is voluntary; (v) that the value of the Shares is
      an
      extraordinary item of compensation which is outside the scope of the
      Participant’s employment contract, if any; and (vi) that the Shares are not part
      of normal or expected compensation for purposes of calculating any severance,
      resignation, redundancy, end of service payments, bonuses, long-service awards,
      pension or retirement benefits or similar payments.

    

    10. Notices.
      Any
      notices required or permitted by the terms of this Agreement or the Plan shall
      be given by recognized courier service, facsimile, registered or certified
      mail,
      return receipt requested, addressed as follows:

    

    If
      to the
      Company:

    

    CampusU,
      Inc. 

    803
      Sycolin Road SE

    Leesburg,
      VA 20175

    

    If
      to the
      Participant:

     

    
      EMPLOYEE
        NAME AND ADDRESS

    

    

    or
      to
      such other address or addresses of which notice in the same manner has
      previously been given. Any such notice shall be deemed to have been given on
      the
      earliest of receipt, one business day following delivery by the sender to a
      recognized courier service, or three business days following mailing by
      registered or certified mail.

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    11. Benefit
      of Agreement.
      Subject
      to the provisions of the Plan and the other provisions hereof, this Agreement
      shall be for the benefit of and shall be binding upon the heirs, executors,
      administrators, successors and assigns of the parties hereto.

    

    12. Governing
      Law.
      This
      Agreement shall be construed and enforced in accordance with the laws of the
      State of Delaware, without giving effect to the conflict of law principles
      thereof. For the purpose of litigating any dispute that arises under this
      Agreement, whether at law or in equity, the parties hereby consent to exclusive
      jurisdiction in Virginia and
      agree
      that such litigation shall be conducted in the state or federal courts of
      Virginia.

    

    13. Severability.
      If any
      provision of this Agreement is held to be invalid or unenforceable by a court
      of
      competent jurisdiction, then such provision or provisions shall be modified
      to
      the extent necessary to make such provision valid and enforceable, and to the
      extent that this is impossible, then such provision shall be deemed to be
      excised from this Agreement, and the validity, legality and enforceability
      of
      the rest of this Agreement shall not be affected thereby.

    

    14. Entire
      Agreement.
      This
      Agreement, together with the Plan, constitutes the entire agreement and
      understanding between the parties hereto with respect to the subject matter
      hereof and supersedes all prior oral or written agreements and understandings
      relating to the subject matter hereof. No statement, representation, warranty,
      covenant or agreement not expressly set forth in this Agreement shall affect
      or
      be used to interpret, change or restrict the express terms and provisions of
      this Agreement provided, however, in any event, this Agreement shall be subject
      to and governed by the Plan.

    

    15. Modifications
      and Amendments; Waivers and Consents.
      The
      terms and provisions of this Agreement may be modified or amended as provided
      in
      the Plan. Except as provided in the Plan, the terms and provisions of this
      Agreement may be waived, or consent for the departure therefrom granted, only
      by
      written document executed by the party entitled to the benefits of such terms
      or
      provisions. No such waiver or consent shall be deemed to be or shall constitute
      a waiver or consent with respect to any other terms or provisions of this
      Agreement, whether or not similar. Each such waiver or consent shall be
      effective only in the specific instance and for the purpose for which it was
      given, and shall not constitute a continuing waiver or consent.

    

    16. Consent
      of Spouse/Domestic Partner.
      If the
      Participant has a spouse or domestic partner as of the date of this Agreement,
      the Participant’s spouse or domestic partner shall execute a Consent of
      Spouse/Domestic Partner in the form of Exhibit
      A
      hereto,
      effective as of the date hereof. Such consent shall not be deemed to confer
      or
      convey to the spouse or domestic partner any rights in the Granted Shares that
      do not otherwise exist by operation of law or the agreement of the parties.
      If
      the Participant subsequent to the date hereof, marries, remarries or applies
      to
      the Company for domestic partner benefits, the Participant shall, not later
      than
      60 days thereafter, obtain his or her new spouse/domestic partner’s
      acknowledgement of and consent to the existence and binding effect of all
      restrictions contained in this Agreement by having such spouse/domestic partner
      execute and deliver a Consent of Spouse/Domestic Partner in the form of Exhibit
      A.

    

    17. Counterparts.
      This
      Agreement may be executed in one or more counterparts, and by different parties
      hereto on separate counterparts, each of which shall be deemed an original,
      but
      all of which together shall constitute one and the same instrument.

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    18. Data
      Privacy.
      By
      entering into this Agreement, the Participant: (i) authorizes the Company and
      each Affiliate, and any agent of the Company or any Affiliate administering the
      Plan or providing Plan record keeping services, to disclose to the Company
      or
      any of its Affiliates such information and data as the Company or any such
      Affiliate shall request in order to facilitate the grant of Shares and the
      administration of the Plan; (ii) waives any data privacy rights he or she may
      have with respect to such information; and (iii) authorizes the Company and
      each
      Affiliate to store and transmit such information in electronic
      form.

    

    

    [THE
      NEXT
      PAGE IS THE SIGNATURE PAGE]

    

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

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

     

    
      	 	 	 
	 	
              CAMPUSU,
                INC.

            
	 
 	 
 	 
 
	
            	By:  	
            
	 	
              

              Name:

            
	 	
              Title:

            

    

     

    
      	 	 	 
	
            	
              Participant:

            
	 	 
	 	 
	 	
              

              Print
                Name:

            

    

     

    
      
        
        

      

      
        8EXECUTIVE
      EMPLOYMENT AGREEMENT

    

    

    This
      EXECUTIVE EMPLOYMENT AGREEMENT (the “Agreement”) dated June 20, 2007 effective
      June 1, 2007 (the “Effective Date”) by and between Solar Thin Films, Inc., a
      Delaware corporation (the “Company”), and Peter C. Lewis, an individual (the
“Executive”).

    

    The
      Company desires to employ the Executive, and the Executive wishes to accept
      such
      employment with the Company, upon the terms and conditions set forth in this
      Agreement.

    

    NOW
      THEREFORE, in consideration of the foregoing facts and mutual agreements set
      forth below, the parties, intending to be legally bound, agree as
      follows:

    

    1. Employment.
      The
      Company hereby agrees to employ Executive, and Executive hereby accepts such
      employment and agrees to perform Executive’s duties and responsibilities in
      accordance with the terms and conditions hereinafter set forth.

    

    1.1 Duties
      and Responsibilities.
      Executive shall serve as Chief Executive Officer. During the Employment Term
      (as
      defined below), Executive shall perform all duties and accept all
      responsibilities incident to such positions and other appropriate duties as
      may
      be assigned to Executive by the Company’s Board of Directors from time to time.
      The Company shall retain full direction and control of the manner, means and
      methods by which Executive performs the services for which he is employed
      hereunder and of the place or places at which such services shall be rendered.
      

    

    1.2 Employment
      Term.
      The
      term of Executive’s employment under this Agreement shall commence as of the
      Effective Date and shall continue for 36 months, unless earlier terminated
      in
      accordance with Section 4 hereof. The term of Executive’s employment shall be
      automatically renewed for successive one (1) year periods until the Executive
      or
      the Company delivers to the other party a written notice of their intent not
      to
      renew the “Employment Term,” such written notice to be delivered at least sixty
      (60) days prior to the expiration of the then-effective “Employment Term” as
      that term is defined below. The period commencing as of the Effective Date
      and
      ending 36 months thereafter or such later date to which the term of Executive’s
      employment under the Agreement shall have been extended by mutual written
      Agreement is referred to herein as the “Employment Term.”

    

    1.3 Extent
      of Service.
      During
      the Employment Term, Executive agrees to use Executive’s best efforts to carry
      out the duties and responsibilities under Section 1.1 hereof and to devote
      substantially all Executive’s business time, attention and energy thereto.
      Executive further agrees not to work either on a part-time or independent
      contracting basis for any other business or enterprise during the Employment
      Term without the prior written consent of the Company’s Board of Directors (the
“Board”), which consent shall not be unreasonably withheld.

    

    1.4 Base
      Salary.
      The
      Company shall pay Executive a base salary (the “Base Salary”) at the annual rate
      of $225,000 (U.S.), payable at such times as the Company customarily pays its
      other senior level executives (but in any event no less often than monthly).
      The
      Base Salary shall be subject to all state, federal and local payroll tax
      withholding and any other withholdings required by law. 

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    1.5 Shares
      of Common Stock.
      The
      Company shall issue Executive shares of common stock of the Company valued
      at
      $100,000 (U.S.) per year, which shall be issued on a quarterly basis. The number
      of shares of to be issued on a quarterly basis shall be determined by dividing
      $100,000 (U.S.) by $0.533 (the average closing bid price for the 20 trading
      days
      immediately prior to the date hereof)(the “Issuance Price”), which quotient
      shall in turn be divided by four. The Issuance Price shall remain in effect
      during the Employment Term and for any extension period. 

    

    1.6 Compensation
      Pursuant to the Executive Officer Compensation Plan.
      Executive shall be eligible to participate in the Company’s Executive Officer
      Incentive Plan (the “Incentive Plan”), attached hereto as Exhibit
      A,
      as
      adopted by the Board of Directors of the Company. The Company’s Compensation
      Committee, or the Board of Directors in absence of the Compensation Committee,
      shall establish the formula to be used to determine the amount of the
      compensation to be paid to the Executive under the Incentive Plan. 

    

    1.7 Options.
      The
      Company’s Board will make an initial grant of options to the Executive as
      follows:

    

    (a) an
      incentive ten year option, in the form attached hereto as Exhibit
      B
      (the
“Option”), to purchase up to 3,000,000 additional shares of common stock at an
      exercise price equal to the Issuance Price, which shall be exercisable on a
      cashless basis and vest quarterly on a pro-rata basis over a period of two
      years
      commencing on the date hereof (the “Vesting Schedule”). In the event that the
      Executive is terminated for Cause (as defined below), upon death or disability
      as set forth in Section 4.2 of this Agreement or the Executive terminates the
      Agreement pursuant to Section 4.4 of this Agreement, then the Option shall
      terminate and all shares of common stock that are not considered Earned Option
      Shares shall be immediately cancelled without any further action of the Company.
      All shares issued upon exercise of the Option shall be affixed with a legend
      stating that they are restricted; and

    

    (b) The
      option agreement will contain a provision that in the event there shall have
      been a Change in Control (as defined below) of the Company while the Executive
      is an employee of the Company and the Executive’s employment by the Company
      thereafter shall have been terminated by the Company (the “Termination Date”) or
      by the Executive for Good Reason (as defined below), within two years of the
      date upon which the Change in Control shall have occurred, unless such
      termination is as a result of (i) the Executive’s death; (ii) the Executive’s
      Disability; (iii) the Executive’s Retirement (termination in accordance with the
      Company’s Retirement Plan applicable to its
      employees or in accordance with any other retirement arrangements which have
      been entered into with the Executive) or (iv) the Executive’s termination for
      Cause, all unvested stock options shall immediately and irrevocably vest and
      the
      exercise period of such options shall be automatically extended to the later
      of
      the longest period permitted by the Company’s stock option plans or ten years
      following the Termination Date. For 

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    purposes
      of the option agreement, a “Change in Control” shall be deemed to have occurred
      if (i) there shall be consummated (A) any consolidation or merger of the Company
      in which the Company is not the continuing or surviving corporation or pursuant
      to which shares of the Company’s Common Stock would be converted into cash,
      securities or other property, other than a merger of the Company in which the
      holders of the Company’s Common Stock immediately prior to the merger have
      substantially the same proportionate ownership of common stock of the surviving
      corporation immediately after the merger, or (B) any sale, lease, exchange
      or
      other transfer (in one transaction or a series of related transactions) of
      all
      or substantially all the assets of the Company; (ii) the stockholders of the
      Company shall approve any plan or proposal for the liquidation or dissolution
      of
      the Company, or (iii) any person (as such term is used in Sections 13(d) and
      14(d)(2) of the Securities Exchange Act of 1934 (the “Exchange Act”)), other
      than the Company or any employee benefit plan sponsored by the Company, shall
      become the beneficial owner (within the meaning of Rule 13d-3 under the Exchange
      Act) of securities of the Company representing 51% or more of the combined
      voting power of the Company’s then outstanding securities ordinarily (and apart
      from rights accruing in special circumstances) having the right to vote in
      the
      election of directors, as a result of a tender or exchange offer, open market
      purchases, privately negotiated purchases or otherwise. “Good Reason” shall mean
      any of the following events unless it occurs with the Executive’s express prior
      written consent:

    

    
      	 	
              (i)
                

            	
              any
                assignment to the Executive by the Company of any duties inconsistent
                with, or any diminution of, the Executive’s position, duties, titles,
                offices, responsibilities and status with the Company immediately
                prior to
                a Change in Control of the Company, or any removal of the Executive
                from
                or any failure to reelect the Executive to any of such positions
                or
                offices, except in connection with the termination of the Executive’s
                employment for Disability, Retirement or Cause or as a result of
                the
                Executive’s death;

            

    

    

    
      	 	
              (ii)
                

            	
              any
                reduction by the Company in the Executive’s base salary as in effect on
                the date hereof or as the same may be increased from time to time
                during
                the term of the Agreement or the Company’s failure to increase (within 15
                months of the Executive’s last increase in base salary) the Executive’s
                base salary after a Change in Control of the Company in an amount
                which is
                at least equal, on a percentage basis, to the average percentage
                increase
                in base salary for all officers of the Company effected during the
                preceding 12 months;

            

      	 	
            	 

      	 	(iii)	
              any
                failure by the Company to continue in effect any benefit or incentive
                plan
                or arrangement (including,
                without limitation, the Company’s Retirement Plan, Stock Option Plan for
                Key Employees, Employee Stock Purchase Plan, 401(k) Savings Plan,
                group
                life insurance plan, medical, dental accident and disability insurance
                plans, annual bonus and contingent bonus arrangement, and any plan
                or
                arrangement to receive and exercise  stock
                appreciation rights, or to acquire stock or other securities of the
                Company) in which the Executive is participating at the time of a
                Change
                in Control of the Company (or to substitute and continue other plans
                providing the Executive with substantially similar benefits) hereinafter
                referred to as “Benefit Plans”), the taking of any action by the Company
                which would adversely affect the Executive’s participation in or
                materially reduce the Executive’s benefits under any such Benefit Plan or
                deprive the Executive of any material employee benefit enjoyed by
                the
                Executive at the time of a Change in Control of the Company, or any
                failure by the Company to provide the Executive with the number of
                paid
                vacation days to which the Executive is entitled in accordance with
                the
                vacation policies in effect at the time of a Change of Control of
                the
                Company;

            

    

    

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    

    
      	 	
              (iv)

            	
              a
                substantial increase in business travel obligations of the Executive
                over
                such obligations as they existed at the time of a Change in Control
                of the
                Company;

            

    

    

    
      	 	
              (v)

            	
              any
                material breach by the Company of any provision of the stock option
                agreement;

            

    

    

    
      	 	
              (vi)

            	
              any
                failure by the Company to obtain the assumption of the stock option
                agreement by any successor or assign of the Company;
                or

            

    

    

    
      	 	
              (vii)
                

            	
              any
                purported termination of the Executive’s employment after a Change in
                Control which is not effected pursuant to a Company Notice of Termination
                and, for purposes of the stock option agreement, no such purported
                termination shall be effective. For purposes of the stock option
                agreement, a “Company Notice of Termination” shall mean a written notice
                which shall indicate the specific termination provision in this Agreement
                relied upon and which sets forth in reasonable detail the facts and
                circumstances claimed to provide a basis for termination of the
                Executive’s employment under the provision so
                indicated.

            

    

    

    (c) the
      Board
      or any committee appointed by the Board in exercising its unrestricted
      discretion may grant such additional options to the Executive each year of
      the
      Employment Term as it deems appropriate.

    

    1.8 Other
      Benefits.
      During
      the Employment Term, Executive shall be entitled to participate in all employee
      benefit plans and programs made available to the Company’s senior level
      executives as a group or to its employees generally, as such plans or programs
      may be in effect from time to time (the “Benefit Coverages”), including, without
      limitation, medical, dental, hospitalization, short-term and long-term
      disability and life insurance plans, accidental death and dismemberment
      protection and travel accident insurance. Executive shall be provided office
      space and staff assistance appropriate for Executive’s position and adequate for
      the performance of her duties. 

     

    1.9 Reimbursement
      of Expenses; Vacation; Sick Days and Personal Days.
      Executive shall be provided with reimbursement of expenses related to
      Executive’s employment by the Company on a basis no less favorable than that
      which may be authorized from time to time by the Board, in its sole discretion,
      for senior level executives as a group. Executive shall be entitled to vacation
      and holidays in accordance with the Company’s normal personnel policies for
      senior level executives, but not less than three (3) weeks of vacation per
      calendar year, provided Executive shall not utilize more than ten (10)
      consecutive business days without the express consent of the Chief Executive
      Officer. Unused vacation time will be forfeited as of December 31 of each
      calendar year of the Employment Term. Executive shall be entitled to no more
      than an aggregate of ten (10) sick days and personal days per calendar
      year.

    

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    1.10 No
      Other Compensation.
      Except
      as expressly provided in Sections 1.4 through 1.9, Executive shall not be
      entitled to any other compensation or benefits.

    

    2. Confidential
      Information.
      Executive recognizes and acknowledges that by reason of Executive’s employment
      by and service to the Company before, during and, if applicable, after the
      Employment Term, Executive will have access to certain confidential and
      proprietary information relating to the Company’s business, which may include,
      but is not limited to, trade secrets, trade “know-how,” product development
      techniques and plans, formulas, customer lists and addresses, financing
      services, funding programs, cost and pricing information, marketing and sales
      techniques, strategy and programs, computer programs and software and financial
      information (collectively referred to as “Confidential Information”). Executive
      acknowledges that such Confidential Information is a valuable and unique asset
      of the Company and Executive covenants that he will not, unless expressly
      authorized in writing by the Company, at any time during the course of
      Executive’s employment use any Confidential Information or divulge or disclose
      any Confidential Information to any person, firm or corporation except in
      connection with the performance of Executive’s duties for the Company and in a
      manner consistent with the Company’s policies regarding Confidential
      Information. Executive also covenants that at any time after the termination
      of
      such employment, directly or indirectly, he will not use any Confidential
      Information or divulge or disclose any Confidential Information to any person,
      firm or corporation, unless such information is in the public domain through
      no
      fault of Executive or except when required to do so by a court of law, by any
      governmental agency having supervisory authority over the business of the
      Company or by any administrative or legislative body (including a committee
      thereof) with apparent jurisdiction to order Executive to divulge, disclose
      or
      make accessible such information. All written Confidential Information
      (including, without limitation, in any computer or other electronic format)
      which comes into Executive’s possession during the course of Executive’s
      employment shall remain the property of the Company. Except as required in
      the
      performance of Executive’s duties for the Company, or unless expressly
      authorized in writing by the Company, Executive shall not remove any written
      Confidential Information from the Company’s premises, except in connection with
      the performance of Executive’s duties for the Company and in a manner consistent
      with the Company’s policies regarding Confidential Information. Upon termination
      of Executive’s employment, the Executive agrees to return immediately to the
      Company all written Confidential Information (including, without limitation,
      in
      any computer or other electronic format) in Executive’s possession.

    

    3. Non-Competition;
      Non-Solicitation.

    

    3.1 Non-Compete.
      The
      Executive hereby covenants and agrees that during the term of this Agreement
      and
      for a period of one year following the end of the Employment Term, the Executive
      will not, without the prior written consent of the Company, directly or
      indirectly, on his own behalf or in the service or on behalf of others, whether
      or not for 

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    compensation,
      engage in any business activity, or have any interest in any person, firm,
      corporation or business, through a subsidiary or parent entity or other entity
      (whether as a shareholder, agent, joint venturer, security holder, trustee,
      partner, consultant, creditor lending credit or money for the purpose of
      establishing or operating any such business, partner or otherwise) with any
      Competing Business in the Covered Area. For the purpose of this Section 3.1,
      (i)
“Competing Business” means any company or entity (whether or not organized for
      profit) that is engaged in the production of manufacturing equipment for the
      photovoltaic or solar industry (ii) “Covered Area” means all geographical areas
      of the United States, Hungary, Germany, China and other foreign jurisdictions
      where Company then has offices and/or sells its products or services directly
      or
      indirectly through distributors and/or other sales agents. Notwithstanding
      the
      foregoing, the Executive may own shares of companies whose securities are
      publicly trades, so long as such securities do not constitute more than one
      percent (1%) of the outstanding securities of any such company.

    

    3.2 Non-Solicitation.
      The
      Executive further agrees that as long as the Agreement remains in effect and
      for
      a period of one (1) year from its termination, the Executive will not divert
      any
      business of the Company and/or its affiliates or any customers or suppliers
      of
      the Company and/or the Company’s and/or its affiliates’ business to any other
      person, entity or competitor, or induce or attempt to induce, directly or
      indirectly, any person to leave his or her employment with the
      Company.

    

    3.3 Remedies.
      The
      Executive acknowledges and agrees that his obligations provided herein are
      necessary and reasonable in order to protect the Company and its affiliates
      and
      their respective business and the Executive expressly agrees that monetary
      damages would be inadequate to compensate the Company and/or its affiliates
      for
      any breach by the Executive of his covenants and agreements set forth herein.
      Accordingly, the Executive agrees and acknowledges that any such violation
      or
      threatened violation of this Section 3 will cause irreparable injury to the
      Company and that, in addition to any other remedies that may be available,
      in
      law, in equity or otherwise, the Company and its affiliates shall be entitled
      to
      obtain injunctive relief against he threatened breach of this Section 3 or
      the
      continuation of any such breach by the Executive without the necessity of
      proving actual damages.

    

    4. Termination.
      

    

    4.1 By
      Company.
      The
      Company, by action of the Board, may, in its discretion and at its option,
      terminate the Executive’s employment with or without Cause, and without
      prejudice to any other right or remedy to which the Company or Executive may
      be
      entitled at law or in equity or under this Agreement. In the event the Company
      desires to terminate the Executive’s employment without Cause, the Company shall
      give the Executive not less than sixty (60) days advance written notice.
      Termination of Executive’s employment hereunder shall be deemed to be “for
      Cause” in the event that Executive violates any provisions of this Agreement, is
      guilty of any criminal act other than minor traffic violations, is guilty of
      willful misconduct or gross neglect, or gross dereliction of his duties
      hereunder or refuses to perform his duties hereunder after notice of such
      refusal to perform such duties or directions given to Executive by the
      Board.

    

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    4.2 By
      Executive’s Death or Disability.
      This
      Agreement shall also be terminated upon the Executive’s death and/or a finding
      of permanent physical or mental disability, such disability expected to result
      in death or to be of a continuous duration of no less than twelve (12) months,
      and the Executive is unable to perform his usual and essential duties for the
      Company.

    

    4.3 Compensation
      on Termination.
      In the
      event the Company terminates Executive’s employment with Cause, all payments
      under this Agreement shall cease, except for Base Salary to the extent already
      accrued. In the event of termination by reason of Executive’s death and/or
      permanent disability, Executive or his executors, legal representatives or
      administrators, as applicable, shall be entitled to an amount equal to
      Executive’s Base Salary accrued through the date of termination and for an
      additional one year period, plus a pro rata share of any annual bonus to which
      Executive would otherwise be entitled for the year which death or permanent
      disability occurs. Upon termination of Executive without Cause, the Executive
      shall receive, in full settlement of any claims Executive may have related
      to
      his employment by the Company, Base Salary for a period of one year from the
      date of termination, provided Executive is in full compliance with the
      provisions of Sections 2 and 3 of this Agreement; provided, however, Executive
      shall not be entitled to receive any other compensation under Section 1 of
      this
      Agreement.

     

    5. General
      Provisions.
      

    

    5.1 Modification:
      No Waiver.
      No
      modification, amendment or discharge of this Agreement shall be valid unless
      the
      same is in writing and signed by all parties hereto. Failure of any party at
      any
      time to enforce any provisions of this Agreement or any rights or to exercise
      any elections hall in no way be considered to be a waiver of such provisions,
      rights or elections and shall in no way affect the validity of this Agreement.
      The exercise by any party of any of its rights or any of its elections under
      this Agreement shall not preclude or prejudice such party from exercising the
      same or any other right it may have under this Agreement irrespective of any
      previous action taken.

    

    5.2 Notices.
      All
      notices and other communications required or permitted hereunder or necessary
      or
      convenient in connection herewith shall be in writing and shall be deemed to
      have been given when hand delivered or mailed by registered or certified mail
      as
      follows (provided that notice of change of address shall be deemed given only
      when received):

    

      
        	 	
                If
                  to the Company, to:

              	
                Solar
                  Thin Films, Inc.

              
	 	
              	
                25
                  Highland Boulevard

              
	 	
              	
                Dix
                  Hills, New York 11746

              
	 	 	 
	 	
                If
                  to Executive, to:

              	
                Peter
                  C. Lewis

              
	 	
              	
                505
                  Grove Street

              
	 	
              	Haddonfield
                NJ
                08033

      

    

     
 

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

    Or
      to
      such other names or addresses as the Company or Executive, as the case may
      be,
      shall designate by notice to each other person entitled to receive notices
      in
      the manner specified in this Section.

    

    5.3 Governing
      Law.
      This
      Agreement shall be governed by and construed in accordance with the laws of
      the
      State of New York.

    

    5.4 Further
      Assurances.
      Each
      party to this Agreement shall execute all instruments and documents and take
      all
      actions as may be reasonably required to effectuate this Agreement.

    

    5.5 Severability.
      Should
      any one or more of the provisions of this Agreement or of any agreement entered
      into pursuant to this Agreement be determined to be illegal or unenforceable,
      then such illegal or unenforceable provision shall be modified by the proper
      court or arbitrator to the extent necessary and possible to make such provision
      enforceable, and such modified provision and all other provisions of this
      Agreement and of each other agreement entered into pursuant to this Agreement
      shall be given effect separately from the provisions or portion thereof
      determined to be illegal or unenforceable and shall not be affected
      thereby.

    

    5.6 Successors
      and Assigns.
      Executive may not assign this Agreement without the prior written consent of
      the
      Company. The Company may assign its rights without the written consent of the
      executive, so long as the Company or its assignee complies with the other
      material terms of this Agreement. The rights and obligations of the Company
      under this Agreement shall inure to the benefit of and be binding upon the
      successors and permitted assigns of the Company, and the Executive’s rights
      under this Agreement shall inure to the benefit of and be binding upon his
      heirs
      and executors. The Company’s subsidiaries and controlled affiliates shall be
      express third party beneficiaries of this Agreement.

    

    5.7 Entire
      Agreement.
      This
      Agreement supersedes all prior agreements and understandings between the
      parties, oral or written. No modification, termination or attempted waiver
      shall
      be valid unless in writing, signed by the party against whom such modification,
      termination or waiver is sought to be enforced.

    

    5.8 Counterparts;
      Facsimile.
      This
      Agreement may be executed in one or more counterparts, each of which shall
      for
      all purposes be deemed to be an original, and all of which taken together shall
      constitute one and the same instrument. This Agreement may be executed by
      facsimile with original signatures to follow.

    

    [REMAINDER
      OF PAGE INTENTIONALLY LEFT BLANK]

    

    

    
      
        
        

      

      
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    IN
      WITNESS WHEREOF, the undersigned, intending to be legally bound, have executed
      this Agreement as of the date first written above. 

    

    SOLAR
      THIN FILMS, INC.

    

    

    

    By:
      _______________________

    Name:
      

    Title:
      

    

    

     

    __________________________

    Peter
      C.
      Lewis

    
 

     

     

     

     

     

     

     

    
      
        
        

      

      
        9

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