Document:

Exhibit 10.15

 

AMENDMENT NUMBER ONE

TO THE EURAMAX INTERNATIONAL, INC. SUPPLEMENTAL EXECUTIVE

RETIREMENT PLAN

 

THIS AMENDMENT to the Euramax International, Inc. Supplemental Executive Retirement Plan (the “Plan”), is adopted by Euramax International, Inc. (the “Company”), effective as of January 1, 2009.

 

WITNESSETH:

 

WHEREAS, the Company currently maintains the Plan; and

 

WHEREAS, the Company previously reserved the right to amend the Plan through action of the Board of Directors or a committee thereof (the “Board”);

 

NOW, THEREFORE, the Board amends the Plan as follows:

 

1.

 

Effective January 1, 2009, Section 2.7 is hereby amended to read as follows:

 

2.7                                 Constructive Termination: A Constructive Termination shall be deemed to occur (i) solely upon the occurrence of a Change of Control in the event that Executive’s employment with Euramax International, Inc., is terminated, or (ii) upon Executive’s Separation from Service within one year following such Change of Control if the Executive is subject to a material reduction in duties or compensation or authority or is required to relocate from Atlanta, Georgia.

 

2.

 

Effective January 1, 2009, a new Section 2.16A is hereby added as follows:

 

2.16A                 Separation from Service: Separation from Service shall mean separation from service as determined under Code Section 409A and applicable guidance thereunder. For purposes of this Plan, references to a “termination,” “termination of employment” or like terms shall mean “Separation from Service” as defined in herein.

 

 

3.

 

Effective January 1, 2009, the introductory paragraph to Section 3.3 is hereby amended to read as follows:

 

3.3                                 Benefit Forms and Commencement: Upon the earliest of the following of (a), (b), (c) or (d), the Executive shall receive his benefit in the form of a Lump Sum.

 

4.

 

Effective January 1, 2009, Section 3.3(b) is hereby amended to read as follows:

 

(b)                                 Disability Payment. In the event that benefits become payable due to a Total and Permanent Disability, the benefit (which is fixed and payable as of the date of the Executive’s Separation from Service due to a Total and Permanent Disability), will be payable in a lump sum calculated under Section 2.19 on the basis of the Executive’s then attained age, as of the first day of the month coincident with or next following the date the Executive is determined to have sustained a Total and Permanent Disability.

 

5.

 

Effective January 1, 2009, Section 3.5 is hereby amended to read as follows:

 

3.5                                 Time of Benefit Payment. Payments of Benefits shall commence as soon as administratively feasible, but no later than 90 days following the date such benefits become payable pursuant to Section 3.3, above.

 

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************

 

Except as amended herein, the Plan shall continue in full force and effect.

 

IN WITNESS WHEREOF, the Company has caused this Amendment to be executed effective as of the dates set forth above.

 

 

	
 
    	
 
    	
EURAMAX INTERNATIONAL, INC.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Date
    	
12/31/2005
    	
 
    	
By
    	
/s/ S. Kirk Huddleston
    
	
 
    	
 
    	
 
    	
Name
    	
S. Kirk Huddleston
    
	
 
    	
 
    	
 
    	
Title
    	
Assistant Treasurer
    
						

 

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EURAMAX HOLDINGS, INC.

 

AMENDED AND RESTATED
 SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN
 Effective June    , 2005

 

This Amended and Restated Euramax Holdings, Inc. Supplemental Executive Retirement Plan was originally effective upon the Closing, as defined in the Stock Purchase Agreement dated April 15, 2003 by and among Citigroup Venture Capital Equity Partners, L.P. and affiliates, the Company and the Company’s stockholders named therein. This amendment and restatement of the Plan is being adopted in order to permit the Plan to comply with the provisions of Section 409A of the Code. Capitalized terms used and not otherwise defined herein shall have the meaning set forth in Article 2 hereof.

 

ARTICLE 1 - PURPOSE OF PLAN

 

Section 1.1                                      Purpose: The purpose of this Plan is to provide supplemental retirement benefits to Mitchell B. Lewis and R. Scott Vansant. The benefits to be provided under this Plan are intended to supplement other retirement benefits provided by the Company through plans qualified under Section 401(a) of the Internal Revenue Code of 1986, nonqualified plans, and the federal Social Security system of the United States. The benefits to be provided under this Plan are intended to be provided in a manner that complies with the requirements of Code Section 409A and the regulations promulgated thereunder.

 

Section 1.2                                      Design: The Plan is designed to provide supplemental retirement benefits as described in Section 3.3.

 

ARTICLE 2 - DEFINITIONS

 

Section 2.1                                      Affiliate: At any time (i) any trade or business, whether incorporated or unincorporated, which at such time is considered to be under common control with the Company or any other company participating in this Plan under regulations prescribed by the Secretary of the Treasury pursuant to Code Section 414(b), (c) or (o); and (ii) any person or organization which at such time is a member of an affiliated service group (as defined in Code Section 414(m)) with the Company or any other company participating in this Plan.

 

Section 2.2                                      Board: The Board of Directors of Euramax Holdings, Inc..

 

Section 2.3                                      Change-In-Control: The sale of Euramax Holdings, Inc., in a single transaction or a series of related transactions, to an independent third party (which is not an Affiliate of any member of the Investor Group) pursuant to which such third party acquires (a) a greater percentage of the fully diluted voting power represented by the share capital and other securities of Euramax Holdings, Inc. than that owned

 

 

and controlled by the Investor Group immediately following such transaction (whether by merger, consolidation, recapitalization, reorganization, purchase of the outstanding share capital or otherwise), or (b) all or substantially all of the consolidated assets of Euramax Holdings, Inc., in each case, which sale has been approved by the Board and the holders of a majority of the outstanding ordinary shares of Euramax Holdings, Inc., voting together as a single class. The consummation of the transactions contemplated by the Agreement and Plan of Merger by and among GSCP Emax Acquisition, LLC, Emax Merger Sub, Inc. and the Company, dated as of April 12, 2005, as amended, shall constitute a Change-in-Control.

 

Section 2.4                                      Code: The Internal Revenue Code of 1986, as amended, or as it may be amended from time to time.

 

Section 2.5                                      Company: Euramax International, Inc., which, upon the consummation of the transactions contemplated by the Agreement and Plan of Merger by and among GSCP Emax Acquisition, LLC, Emax Merger Sub, Inc. and the Company, dated as of April 12, 2005, as amended, shall thereafter be called Euramax Holdings, Inc.

 

Section 2.6                                      Compensation and Employee Benefits Committee: The Compensation and Employee Benefits Committee as established by the Board.

 

Section 2.7                                      Constructive Termination: A Constructive Termination shall be deemed to occur solely upon the occurrence of a Change of Control in the event that Executive’s employment with the Company is terminated by the Company or the Executive is subject to a material reduction in duties or compensation or authority or is required to relocate from Atlanta, Georgia and subsequently terminates his employment with the Company, in either case, within one year following such Change of Control.

 

Section 2.8                                      Executive: Executive shall mean each of Mitchell B. Lewis and R. Scott Vansant.

 

Section 2.9                                      Investor Group: Collectively, the individuals and entities party to the Shareholders Agreement dated September 25, 1996, and any successor agreement thereto, and each of their respective Affiliates.

 

Section 2.10                                Life Annuity: An income payable monthly, beginning as of the first day of the month for which the Executive’s Plan benefits are scheduled to commence under this Plan and ending as of the first day of the month in which the Executive dies.

 

Section 2.11                                Lump Sum: The full single cash payment of the balance of a Executive’s vested benefit, the value of which shall be the Value Equivalent of a Life Annuity (reduced for early commencement, if necessary).

 

Section 2.12                                Plan: The “Amended and Restated Euramax Holdings, Inc. Supplemental Executive Retirement Plan,” as set forth herein or in any amendment hereto.

 

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Section 2.13                                Plan Administrator: The individual or committee appointed by the Board, who shall have the same powers and those duties with respect to the Plan as those described in the Euramax Saving Plan. The Plan Administrator is the named fiduciary for purposes of the Employee Retirement Income Security Act of 1974, as amended.

 

Section 2.14                                Plan Year: The calendar year.

 

Section 2.15                                Retirement Date: The first day of the month coincident with or next following the date the Executive attains age 55 and actually terminates employment with the Company, or, in the event that there has been a Change-in-Control and the Executive’s employment with the Company has terminated prior to his attainment of age 55 (other than pursuant to a Constructive Termination), the first day of the month in which the Executive attains age 55.

 

Section 2.16                                Spouse: The individual to whom the Executive is legally married as of the earlier of the Executive reaching his Retirement Date, suffering a Total and Permanent Disability, death, or upon the Change-In-Control of the Company. 

 

Section 2.17                                Total and Permanent Disability means the Executive has become “Disabled” as that term is defined in Section 409 A(a)(2)(C) of the Code.

 

Section 2.18           Value Equivalent: The Life Annuity amount, as adjusted in the manner set forth below to calculate a Lump Sum:

 

	
 
    	
Lump Sum Factor
    	
 
    	
The Life Annuity Amount will be converted to a lump sum using the   applicable mortality table and the applicable interest rate both as   prescribed by section 417(e)(3) of the Code or any applicable provision   of successor legislation, provided that the lump sum amount payable at age 65   will be $500,000.
    

 

ARTICLE 3 - BENEFITS

 

Section 3.1                                      Benefit Amount: The “Benefit” is a Lump Sum single cash payment that is the Value Equivalent of an annual amount payable in the form of a Life Annuity starting at age 65 and equal to $46,000. At the time of the Executive’s Retirement Date, death, Total and Permanent Disability, or Constructive Termination, the above dollar amount shall be multiplied by the following payment reduction factor, provided that in the event of a Constructive Termination or Total and Permanent Disability prior to age 55, the Executive shall be deemed to have

 

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attained age 55 at the time of such Constructive Termination or Total and Permanent Disability.

 

	
Age At Retirement Date, Death,
   Disability or Change-in-control
    	
 
    	
Payment Reduction
   Factor
    	
 
    
	
65 and later
    	
 
    	
100
    	
%
    
	
64
    	
 
    	
96
    	
%
    
	
63
    	
 
    	
92
    	
%
    
	
62
    	
 
    	
88
    	
%
    
	
61
    	
 
    	
84
    	
%
    
	
60
    	
 
    	
80
    	
%
    
	
59
    	
 
    	
76
    	
%
    
	
58
    	
 
    	
72
    	
%
    
	
57
    	
 
    	
68
    	
%
    
	
56
    	
 
    	
64
    	
%
    
	
55
    	
 
    	
60
    	
%
    

 

Section 3.2                                      Forfeiture of Benefit: If it is the conclusion of the Board that the Executive has engaged in any acts or omissions constituting dishonesty, intentional breach of fiduciary obligation or intentional wrongdoing, in each case that results in substantial harm to the business or property of the Company, he shall forfeit and be ineligible to receive any benefits under this Plan, and any benefits paid to such Executive (or Spouse) can be recovered by the Company. The recovery of any benefits paid to such Executive shall not preclude the Company from taking any other actions against the Executive.

 

Section 3.3                                      Benefit Forms and Commencement: The Executive shall receive a full single cash payment of the Lump Sum upon the first day of the month immediately following the earliest to occur of:

 

(a)           the Executive’s Retirement Date;

 

(b)           the Executive’s Total and Permanent Disability;

 

(c)           the Executive’s death; and

 

(d)           the Executive’s Constructive Termination.

 

Section 3.4                                      Vesting of Benefits: An Executive’s benefits under this Plan are not vested until the earlier of the date the Executive attains age 55, dies, becomes Totally and Permanently Disabled, or the occurrence of a Change-in-Control. If an Executive’s employment with the Company terminates, for any reason, before his benefits have vested, the Executive will not be entitled to any benefits hereunder.

 

Section 3.5                                      Mental or Legal Incompetence: The Company, in its sole discretion, may make distribution to the guardian or other legal representative of the Executive or

 

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Spouse, if the Executive or Spouse is determined by a court of proper jurisdiction to be mentally or legally incompetent to receive such benefit distribution. Any such distribution shall be in full and complete satisfaction of any and all claims whatsoever by or on behalf of such Executive under this Plan against the Company, the Plan Administrator, any member of the Board, other Executives or officers of the Company, other employees, shareholders and any other person acting on behalf of them.

 

Section 3.6                                      Benefits Unfunded: The benefits payable under the Plan shall be paid by the Company and shall not be funded.

 

ARTICLE 4 - MISCELLANEOUS

 

Section 4.1                                      Amendment or Termination: The Board, or the Compensation and Employee Benefits Committee of the Board, shall have the right to amend this Plan from time to time and to terminate this Plan at any time; provided, however, except as provided in Section 3.2, no such action shall reduce the Executive’s Accrued Benefit (defined for this purpose as the Life Annuity to which Executive would be entitled as of the date of such action under Sections 2.11 and 3.1 and adjusted, if necessary, to its Value Equivalent under Section 2.18) or defer the time for paying such benefits under Section 3.3.

 

Section 4.2                                      Company Liability: Nothing in this Plan shall be construed to limit in any way the right of the Company to terminate the employment of the Executive at any time; or to be evidence of any agreement or understanding, express or implied, that the Company or any affiliate company will employ the Executive in any particular position or at any particular rate or remuneration or for any particular period of time.

 

Section 4.3                                      Indemnification: The Company shall indemnify and hold harmless the Administrator, any member thereof and any employee who may act on behalf of the Company in the administration of this Plan from and against any liability, loss, cost or expense (including reasonable attorneys’ fees) incurred at any time as a result of or in connection with any claims, demands, actions or causes of action of the Executive, any person claiming through or under any of them, or any other person, party or authority claiming to have an interest in this Plan or standing to act for any persons or groups having an interest in this Plan, for or on account of, any of the acts or omissions (or alleged acts or omissions) of the Administrator, any member thereof or any such employee, except to the extent resulting from such person’s willful misconduct.

 

Section 4.4                                      Tax Effects: This Plan is intended to comply with the requirements, conditions and limitations of Section 409A of the Code and the regulations promulgated thereunder from time to time. Any word, phrase, clause, provision or term of this Plan that conflicts with Section 409A of the Code or such regulations or would otherwise cause an acceleration of income recognition, or the payment of tax

 

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penalties or interest under Section 409A of the Code shall be null and void, ab intio and the Company and the Executive shall amend the Plan as and when needed in order for it to be in compliance with such section and regulations.

 

Section 4.5                                      No Assignment: Binding Effect: Neither the Executive nor Spouse shall have the right to alienate, assign, commute or otherwise encumber his benefit for any purpose whatsoever, and any attempt to do so shall be disregarded completely as null and void. The provisions of this Plan shall be binding on the Executive and on each person who claims a benefit under him and on the Company.

 

Section 4.6                                      Construction: This Plan shall be construed in accordance with the laws of the State of Delaware. The headings and subheadings in this Plan have been inserted for convenience of reference only and are to be ignored in construction of the provisions of this Plan. In the construction of this Plan, the masculine shall include the feminine and the singular the plural wherever appropriate.

 

IN WITNESS WHEREOF, the Company has caused its duly authorized officers to execute and seal this Amended and Restated Supplemental Executive Retirement Plan as of this       day of June, 2005.

 

 

	
PLAN SPONSOR:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
EURAMAX HOLDINGS INC.
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
/s/ J. David Smith
    	
 
    	
 
    
	
 
    	
J. David Smith
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Title: 
    	
Chairman, President & CEO
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
(CORPORATE SEAL)
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Attest:
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
Title:
    	
 
    
						

 

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  Exhibit 10.1    
    

 
    GT ADVANCED TECHNOLOGIES INC.
  2011 EQUITY INCENTIVE PLAN    
    

          

1.     DEFINED TERMS  

        Exhibit A, which is incorporated by reference, defines the terms used in the Plan and sets forth certain operational rules related to those terms. 

2.     PURPOSE  

        The Plan has been established to advance the interests of the Company by providing for the grant to Participants of Stock-based and other incentive Awards. 

3.     ADMINISTRATION  

        The Administrator has discretionary authority, subject only to the express provisions of the Plan, to interpret the Plan; determine eligibility for and grant
Awards; determine, modify or waive the terms and conditions of any Award; prescribe forms, rules and procedures; and otherwise do all things necessary to carry out the purposes of the Plan.
Determinations of the Administrator made under the Plan will be conclusive and will bind all parties. 

4.     LIMITS ON AWARDS UNDER THE PLAN  

        (a)    Number of Shares.    At the Effective Date, the maximum number of shares of Stock that
may be delivered in satisfaction of the Awards shall be: 

        (1)   12,500,000
(which amount includes shares available for grant under the GT Solar International, Inc. 2008 Equity Incentive Plan that were transferred to the Plan);
plus 

        (2)   any
shares of Stock that become available for grant under the Company's Existing Plans after the Effective Date as a result of termination of awards under the Existing
Plans; provided, that such shares will not be available for issuance of ISOs. 

        (b)    ISO Shares; Adjustments to Maximum Available Shares.    The maximum number of shares of
Stock deliverable upon the exercise of ISOs is 12,500,000. Shares of Stock that are subject to Awards that have been terminated, cancelled or forfeited upon termination of Employment under
Section 6(a)(4) without becoming exercisable shall be available again for future grant under the Plan. The number of shares of Stock delivered in satisfaction of Awards shall be determined net
of shares of Stock withheld by the Company in payment of the exercise price of the Award, if applicable, or in satisfaction of tax withholding requirements with respect to the Award, and, for the
avoidance of doubt, without including any shares of Stock underlying Awards settled in cash or which otherwise expire or become unexercisable without having been exercised or are forfeited to or
repurchased by the Company due to failure to vest. The limits set forth in this Section 4(b) shall be construed to comply with Section 422. To the extent consistent with the requirements
of Section 422 and with other applicable legal requirements (including applicable stock exchange requirements), Stock issued under awards of an acquired company that are converted, replaced or
adjusted in connection with the acquisition shall not reduce the number of shares available for delivery upon the exercise of Awards under the Plan. 

        (c)    Type of Shares.    Stock delivered by the Company under the Plan may be authorized but
unissued Stock or previously issued Stock acquired by the Company. No fractional shares of Stock will be delivered under the Plan. 

        (d)    Section 162(m) Limits.    The maximum number of shares of Stock for which Stock
Options may be granted to any person in a calendar year and the maximum number of shares of Stock subject to SARs granted to any person in any calendar year will each be 3,000,000. The maximum number
of 

 

shares
subject to Performance Awards granted to any person in any calendar year will be 3,000,000 shares. The maximum amount payable to any person in any year under Cash Awards will be
$10,000,000. The foregoing provision will be construed in a manner consistent with Section 162(m). 

5.     ELIGIBILITY AND PARTICIPATION  

        The Administrator will select Participants from among those key Employees and directors of, and consultants and advisors to, the Company and its Affiliates who,
in the opinion of the Administrator, are in a position to make a significant contribution to the success of the Company and its Affiliates; provided,
that, subject to such express exceptions, if any, as the Administrator may establish, eligibility shall be further limited to those persons as to whom the use of a Form S-8
registration statement is permissible. Eligibility for ISOs is limited to employees of the Company or of a "parent corporation" or "subsidiary corporation" of the Company as those terms are defined in
Section 424 of the Code. Eligibility for Awards other than ISOs is limited to individuals described in the first sentence of this Section 5 who are providing direct services on the date
of grant of the Award to the Company or to a subsidiary of the Company that would be described in the first sentence of Treas. Regs. §1.409A-1(b)(5)(iii)(E). 

6.     RULES APPLICABLE TO AWARDS  

        (a)    All Awards    

        (1)    Award Provisions.    The Administrator will determine the terms of all Awards, subject
to the limitations provided herein. By accepting (or, under such rules as the Administrator may prescribe, being deemed to have accepted) an Award, the Participant agrees to the terms of the Award and
the Plan. Notwithstanding any provision of this Plan to the contrary, awards of an acquired company that are converted, replaced or adjusted in connection with the acquisition may contain terms and
conditions that are inconsistent with the terms and conditions specified herein, as determined by the Administrator. 

        (2)    Term of Plan.    No Awards may be made after the date that is one day before the 10th
anniversary of the Effective Date, but previously granted Awards may continue beyond that date in accordance with their terms. 

        (3)    Transferability.    Neither ISOs nor, except as the Administrator otherwise expressly
provides in accordance with the second sentence of this Section 6(a)(3), other Awards that are not ISOs may be transferred other than by will or by the laws of descent and distribution, and
during a Participant's lifetime ISOs (and, except as the Administrator otherwise expressly provides in accordance with the second sentence of this Section 6(a)(3), other Awards requiring
exercise that are not ISOs) may be exercised only by the Participant. The Administrator may permit Awards that are not ISOs, but not Awards that are ISOs, to be transferred by gift, subject to such
limitations as the Administrator may impose. 

        (4)    Vesting, etc.    The Administrator may determine the time or times at which an Award
will vest or become exercisable and the terms on which an Award requiring exercise will remain exercisable. Without limiting the foregoing, the Administrator may at any time accelerate the vesting or
exercisability of an Award, regardless of any adverse or potentially adverse tax or other consequences resulting from such acceleration. Unless the Administrator expressly provides otherwise, however,
the following rules will apply: 

        (A)  Immediately
upon the cessation of the Participant's Employment, each Award requiring exercise that is then held by the Participant or by the Participant's permitted
transferees, if any, will cease to be exercisable and will terminate, except to the extent otherwise provided in (B), 

2

 

(C) or
(D) below, all other Awards that are then held by the Participant or by the Participant's permitted transferees, if any, to the extent not already vested will be forfeited. 

        (B)  Subject
to (C) and (D) below, all Stock Options and SARs held by the Participant or the Participant's permitted transferees, if any, immediately prior to
the cessation of the Participant's Employment, to the extent then exercisable, will remain exercisable for the lesser of (i) a period of 90 days or (ii) the period
ending on the latest date on which such Stock Option or SAR could have been exercised without regard to this Section 6(a)(4), and will thereupon terminate; 

        (C)  All
Stock Options and SARs held by a Participant or the Participant's permitted transferees, if any, immediately prior to the Participant's death or total and permanent
disability (as determined by the Administrator in its sole discretion), to the extent then exercisable, will remain exercisable for the lesser of (i) a period of 180 days or
(ii) the period ending on the latest date on which such Stock Option or SAR could have been exercised without regard to this Section 6(a)(4), and will thereupon terminate; and 

        (D)  All
Stock Options and SARs held by a Participant or the Participant's permitted transferees, if any, immediately prior to the cessation of the Participant's Employment
will immediately terminate upon such cessation if the Administrator in its sole discretion determines that such cessation of Employment is for Cause. 

        (E)  Each
Restricted Stock and Restricted Stock Unit (other than those Restricted Stock and Restricted Stock Unit which may only be settled in cash) granted under the Plan
shall vest in accordance with a schedule that does not permit such Award to vest in full prior to the third anniversary of the date of grant of the Award, provided that, not withstanding the
foregoing, the Administrator may, in its discretion to (i) accelerate the vesting of an Award in the event of the Participant's death or total and permanent disability (as determined by the
Administrator in its sole discretion), (ii) accelerate the vesting of an Award in the event of the Participant's retirement, (iii) accelerate the vesting of an Award in the event of a
Covered Transaction (in accordance with Section 7 below), (iv) accelerate the vesting of Awards in an amount equal to 10% of the number of Shares available for issuance under the Plan,
or (v) establish a shorter performance-based vesting schedule in accordance with the provisions applicable to Performance Awards (but not less than one year). 

        (5)    Competitive Activity.    Except as otherwise provided by the Administrator, all
unexercised Stock Options and SARs will terminate immediately upon in the event the Administrator determines that the Participant is (i) not in compliance with any non-competition or
non-solicitation or non-disclosure agreement with the Company, or (ii) if no such agreement exists, engages in Competitive Activity, within twelve (12) months following the Participant's
cessation of Employment. 

        (6)    Taxes.    The delivery, vesting or retention of Stock under an Award is conditioned
upon full satisfaction by the Participant of all tax withholding requirements with respect to the Award. The Administrator will make such provision for the withholding and payment of taxes as it deems
necessary. Such taxes shall be remitted to the Company by cash or check acceptable to the Administrator or by other means acceptable to the Administrator. In particular, but not in limitation of the
foregoing, the Administrator may, but need not, hold back shares of Stock from an Award or permit a Participant to tender previously owned shares of Stock in satisfaction of tax withholding
requirements (but not in excess of the minimum withholding required by law). 

        (7)    Dividend Equivalents, Etc.    The Administrator may in its sole discretion provide for
the payment of amounts in lieu of cash dividends or other cash distributions with respect to Stock subject to an Award requiring exercise whether or not the holder of such Award is otherwise entitled
to share in the actual dividend or distribution in respect of such Award; provided that no 

3

 

such
payments will be made with respect to Awards requiring exercise that are not exerciseable. Any payment of dividend equivalents or similar payments shall be established and administered consistent
either with exemption from, or in compliance with, the requirements of Section 409A. A Participant holding an unvested Award of Restricted Stock or an unvested Performance Award shall not be
entitled to receive dividends or other distributions paid with respect to such Restricted Stock or Performance Award and no such dividends or other distributions shall be paid to any Participant with
respect to such unvested Restricted Stock or Performance Award, as applicable; provided that the Administrator may in its discretion provide that a Participant holding an unvested Award of Restricted
Stock or an unvested Performance Award shall be entitled to receive dividends or other distributions paid with respect to such Restricted Stock or Performance Award at such time that the vesting
conditions on such Award are thereafter satisfied (and shall be subject to cancellation or forfeiture to the same extent as the underlying Award in the event the conditions of vesting are not
thereafter satisfied). Any amounts payable in respect of vested Restricted Stock or Restricted Stock Units may be subject to such limits or restrictions as the Administrator may impose. 

        (8)    Rights Limited.    Nothing in the Plan will be construed as giving any person the right
to continued employment or service with the Company or its Affiliates, or any rights as a stockholder except as to shares of Stock actually issued under the Plan. The loss of existing or potential
profit in Awards will not constitute an element of damages in the event of termination of Employment for any reason, even if the termination is in violation of an obligation of the Company or any
Affiliate to the Participant. 

        (9)    Section 162(m).    This Section 6(a)(9) applies to any Performance Award
intended to qualify as performance-based for the purposes of Section 162(m) other than a Stock Option or SAR. In the case of any Performance Award to which this Section 6(a)(9) applies,
the Plan and such Award will be construed to the maximum extent permitted by law in a manner consistent with qualifying the Award for such exception. With respect to such Performance Awards, the
Administrator will pre-establish, in writing, one or more specific Performance Criteria no later than 90 days after the commencement of the period of service to which the performance relates
(or at such earlier time as is required to qualify the Award as performance-based under Section 162(m)). Prior to grant, vesting or payment of the Performance Award, as the case may be, the
Administrator will certify whether the applicable Performance Criteria have been attained and such determination will be final and conclusive. No Performance Award to which this Section 6(a)(9)
applies may be granted after the first meeting of the stockholders of the Company held in 2016 until the listed performance measures set forth in the definition of "Performance Criteria" (as
originally approved or as subsequently amended) have been resubmitted to and reapproved by the stockholders of the Company in accordance with the requirements of Section 162(m) of the Code,
unless such grant is made contingent upon such approval. 

        (10)    Coordination with Other Plans.    Awards under the Plan may be granted in tandem with,
or in satisfaction of or substitution for, other awards made under other compensatory plans or programs of the Company or its Affiliates. For example, but without limiting the generality of the
foregoing, awards under other compensatory plans or programs of the Company or its Affiliates may be settled in Stock (including, without limitation, Unrestricted Stock) if the Administrator so
determines, in which case the shares delivered shall be treated as awarded under the Plan (and shall reduce the number of shares thereafter available under the Plan in accordance with the rules set
forth in Section 4). In any case where an award is made under another plan or program of the Company or its Affiliates and such award is intended to qualify for the performance-based
compensation exception under Section 162(m), and such award is settled by the delivery of Stock or another Award under the Plan, the applicable Section 162(m) limitations under both the
other plan or program and under the Plan shall be applied to the Plan as necessary (as determined by 

4

 

the
Administrator) to preserve the availability of the Section 162(m) performance-based compensation exception with respect thereto. 

        (11)    Section 409A.    Each Award shall contain such terms as the Administrator
determines, and shall be construed and administered, such that the Award either (i) qualifies for an exemption from the requirements of Section 409A to the extent applicable, or
(ii) satisfies such requirements. 

        (12)    Certain Requirements of Corporate Law.    Awards shall be granted and administered
consistent with the requirements of applicable Delaware law relating to the issuance of stock and the consideration to be received therefor, and with the applicable requirements of the stock exchanges
or other trading systems on which the Stock is listed or entered for trading, in each case as determined by the Administrator. 

        (b)    Awards Requiring Exercise.    

        (1)    Time And Manner Of Exercise.    Unless the Administrator expressly provides otherwise,
an Award requiring exercise will not be deemed to have been exercised until the Administrator (or the Administrator's designee) receives a notice of exercise (in form acceptable to the Administrator),
which may be an electronic notice, signed (including electronic signature in form acceptable to the Administrator) by the appropriate person and accompanied by any payment required under the Award. If
the Award is exercised by any person other than the Participant, the Administrator may require satisfactory evidence that the person exercising the Award has the right to do so. 

        (2)    Exercise Price.    The exercise price (or the base value from which appreciation is to
be measured) of each Award requiring exercise shall be 100% (in the case of an ISO granted to a ten-percent shareholder within the meaning of subsection (b)(6) of
Section 422, 110%) of the Fair Market Value of the Stock subject to the Award, determined as of the date of grant, or such other amount as the Administrator may determine in connection with the
grant. No such Award, once
granted, (i) may be repriced, (ii) exchanged for another Award with a different exercise price or (iii) exchanged for cash, in each case other than in accordance with the terms of
Section 7 below or with stockholder approval. Fair Market Value shall be determined by the Administrator consistent with the applicable requirements of Section 422 and
Section 409A. 

        (3)    Payment Of Exercise Price.    Where the exercise of an Award is to be accompanied by
payment, payment of the exercise price shall be by cash or check acceptable to the Administrator, or, if so permitted by the Administrator and if legally permissible, (i) through the delivery
of unrestricted shares of Stock that have been outstanding for at least six months (unless the Administrator approves a shorter period) and that have a Fair Market Value equal to the exercise price,
(ii) through a broker-assisted exercise program acceptable to the Administrator, (iii) through the withholding of shares of Stock otherwise to be delivered upon exercise of the Award
whose Fair Market Value is equal to the aggregate exercise price of the Award being exercised, (iv) by other means acceptable to the Administrator, or (v) by any combination of the
foregoing permissible forms of payment. No Award requiring exercise or portion thereof may be exercised unless, at the time of exercise, the Fair Market Value of the shares of Stock subject to such
Award or portion thereof exceeds the exercise price for the Award or such portion. The delivery of shares in payment of the exercise price under clause (i) above may be accomplished either by
actual delivery or by constructive delivery through attestation of ownership, subject to such rules as the Administrator may prescribe. 

        (4)    Maximum Term.    Awards requiring exercise will have a maximum term not to exceed ten
(10) years from the date of grant (five (5) years from the date of grant in the case of an ISO granted to a ten-percent shareholder within the meaning of subsection (b)(6) of
Section 422) from the date of grant. 

5

 

7.     EFFECT OF CERTAIN TRANSACTIONS  

        (a)    Mergers, etc.    Except as otherwise provided in an Award, the Administrator shall, in
its sole discretion, determine the effect of a Covered Transaction on Awards, which determination may include, but is not limited to, taking the following actions: 

        (1)    Assumption or Substitution.    If the Covered Transaction is one in which there is an
acquiring or surviving entity, the Administrator may provide for the assumption or continuation of some or all
outstanding Awards or for the grant of new awards in substitution therefor by the acquiror or survivor or an affiliate of the acquiror or survivor. 

        (2)    Cash-Out of Awards.    If the Covered Transaction is one in which holders
of Stock will receive upon consummation a payment (whether cash, non-cash or a combination of the foregoing), then subject to Section 7(a)(5) below the Administrator may provide for payment (a
"cash-out"), with respect to some or all Awards or any portion thereof, equal in the case of each affected Award or portion thereof to the excess, if any, of (A) the Fair Market Value of one
share of Stock times the number of shares of Stock subject to the Award or such portion, over (B) the aggregate exercise or purchase price, if any, under the Award or such portion (in the case
of an SAR, the aggregate base value above which appreciation is measured), in each case on such payment terms (which need not be the same as the terms of payment to holders of Stock) and other terms,
and subject to such conditions, as the Administrator determines; provided, that the Administrator shall not exercise its discretion under this
Section 7(a)(2) with respect to an Award or portion thereof providing for "nonqualified deferred compensation" subject to Section 409A in a manner that would constitute an extension or
acceleration of, or other change in, payment terms if such change would be inconsistent with the applicable requirements of Section 409A. 

        (3)    Acceleration of Certain Awards.    If the Covered Transaction (whether or not there is
an acquiring or surviving entity) is one in which there is no assumption, substitution or cash-out, then subject to Section 7(a)(5) below the Administrator may provide that each Award will,
prior to the consummation of the Covered Transaction, become fully exercisable and the delivery of any shares of Stock remaining deliverable under each outstanding Award of Stock Units (including
Restricted Stock Units and Performance Awards to the extent consisting of Stock Units) will be accelerated and such shares will be delivered, prior to the Covered Transaction, in each case on a basis
that gives the holder of the Award a reasonable opportunity, as determined by the Administrator, following exercise of the Award or the delivery of the shares, as the case may be, to participate as a
stockholder in the Covered Transaction; provided, that to the extent acceleration pursuant to this Section 7(a)(3) of an Award subject to
Section 409A would cause the Award to fail to satisfy the requirements of Section 409A, the Award shall not be accelerated and the Administrator in lieu thereof shall take such steps as
are necessary to ensure that payment of the Award is made in a medium other than Stock and on terms that as nearly as possible, but taking into account adjustments required or permitted by this
Section 7, replicate the prior terms of the Award. 

        (4)    Termination of Awards Upon Consummation of Covered Transaction.    Each Award will
terminate upon consummation of the Covered Transaction, other than the following: (i) Awards assumed pursuant to Section 7(a)(1) above; (ii) Awards converted pursuant to the
proviso in Section 7(a)(3) above into an ongoing right to receive payment other than Stock, and (iii) outstanding shares of Restricted Stock (which will be treated in the same manner as
other shares of Stock, subject to Section 7(a)(5) below). 

        (5)    Additional Limitations.    Any share of Stock and any cash or other property delivered
pursuant to Section 7(a)(2) or Section 7(a)(3) above with respect to an Award may, in the discretion of the Administrator, contain such restrictions, if any, as the Administrator deems
appropriate to reflect any performance or other vesting conditions to which the Award was subject and that did not lapse (and were not satisfied) in connection with the Covered Transaction. For 

6

 

purposes
of the immediately preceding sentence, a cash-out under Section 7(a)(2) above or the acceleration of exercisability of an Award under Section 7(a)(3) above shall not, in and of
itself, be treated as the lapsing (or satisfaction) of a performance or other vesting condition. In the case of Restricted Stock that does not vest in connection with the Covered Transaction, the
Administrator may require that any amounts delivered, exchanged or otherwise paid in respect of such Stock in connection with the Covered Transaction be placed in escrow or otherwise made subject to
such restrictions as the Administrator deems appropriate to carry out the intent of the Plan. 

        (b)    Changes in and Distributions With Respect to Stock    

        (1)    Basic Adjustment Provisions.    In the event of a stock dividend, stock split or
combination of shares (including a reverse stock split), recapitalization or other change in the Company's capital structure, the Administrator shall make appropriate adjustments to the maximum number
of shares specified in Section 4(a) that may be delivered under the Plan and to maximum share limits described in Section 4(b) and Section 4(d), and will also make appropriate
adjustments to the number and kind of shares of stock or securities subject to Awards then outstanding or subsequently granted, any exercise prices relating to Awards and any other provision of Awards
affected by such change. 

        (2)    Certain Other Adjustments.    The Administrator may also make adjustments of the type
described in Section 7(b)(1) above to take into account distributions to stockholders other than those provided for in Section 7(a) and 7(b)(1), or any other event, if the Administrator
determines that adjustments are appropriate to avoid distortion in the operation of the Plan and to preserve the value of Awards made hereunder, having due regard for the qualification of ISOs under
Section 422 and the requirements of Section 409A and for the performance-based compensation rules of Section 162(m), where applicable. 

        (3)    Continuing Application of Plan Terms.    References in the Plan to shares of Stock will
be construed to include any stock or securities resulting from an adjustment pursuant to this Section 7. 

8.     LEGAL CONDITIONS ON DELIVERY OF STOCK  

        The Company will use commercially reasonable efforts to satisfy applicable legal requirements for the issuance of shares of Stock pursuant to the exercise of any
Award. The Company will not be obligated to deliver any shares of Stock pursuant to the Plan or to remove any restriction from shares of Stock previously delivered under the Plan until: (i) the
Company is satisfied that all legal matters in connection with the issuance and delivery of such shares have been addressed and resolved; (ii) if the outstanding Stock is at the time of
delivery listed on any stock exchange or national market system, the shares to be delivered have been listed or authorized to be listed on such exchange or system upon official notice of issuance; and
(iii) all conditions of the Award have been satisfied or waived. If the sale of Stock has not been registered under the Securities Act of 1933, as amended, the Company may require, as a
condition to exercise of the Award, such representations or agreements as counsel for the Company may consider appropriate to avoid violation of such Act. The Company may require that certificates
evidencing Stock issued under the Plan bear an appropriate legend reflecting any restriction on transfer applicable to such Stock, and the Company may hold the certificates pending lapse of the
applicable restrictions. 

9.     AMENDMENT AND TERMINATION  

        The Administrator may at any time or times amend the Plan or any outstanding Award for any purpose which may at the time be permitted by law, and may at any time
terminate the Plan as to any future grants of Awards; provided, that except as otherwise expressly provided in the Plan the 

7

 

Administrator
may not, without the Participant's consent, alter the terms of a Award so as to affect materially and adversely the Participant's rights under the Award, unless the Administrator
expressly reserved the right to do so at the time the Award was granted. Any amendments to the Plan shall be conditioned upon stockholder approval to the extent, if any, such approval is required by
law (including the Code and applicable stock exchange requirements), as determined by the Administrator. 

10.   OTHER COMPENSATION ARRANGEMENTS  

        The existence of the Plan or the grant of any Award will not in any way affect the Company's right to award a person bonuses or other compensation in addition to
Awards under the Plan. 

11.   MISCELLANEOUS  

        (a)    Waiver of Jury Trial.    By accepting an Award under the Plan,
each Participant waives any right to a trial by jury in any action, proceeding or counterclaim concerning any rights under the Plan and any Award, or under any amendment, waiver, consent, instrument,
document or other agreement delivered or which in the future may be delivered in connection therewith, and agrees that any such action, proceedings or counterclaim shall be tried before a court and
not before a jury. By accepting an Award under the Plan, each Participant certifies that no officer, representative, or attorney of the Company has represented, expressly or otherwise, that the
Company would not, in the event of any action, proceeding or counterclaim, seek to enforce the foregoing waivers. 

        (b)    Limitation of Liability.    Notwithstanding anything to the contrary in the Plan,
neither the Company, nor any Affiliate, nor the Administrator, nor any person acting on behalf of the Company, any Affiliate, or the Administrator, shall be liable to any Participant or to the estate
or beneficiary of any Participant or to any other holder of an Award by reason of any acceleration of income, or any additional tax (including any interest and penalties), asserted by reason of the
failure of an Award to satisfy the requirements of Section 422 or Section 409A or by reason of Section 4999 of the Code, or otherwise asserted with respect to the Award;  provided, that
nothing in this Section 11(b) shall limit the ability of the Administrator or the Company, in its discretion, to provide by
separate express written agreement with a Participant for a gross-up payment or other payment in connection with any such acceleration of income or additional tax. 

        (c)    Rule 16b-3.    During any time when the Company has a class of
equity security registered under Section 12 of the Exchange Act, it is the intent of the Company that Awards pursuant to the Plan and the exercise of any Awards granted hereunder that would
otherwise be subject to Section 16(b) of the Exchange Act will qualify for exemption provided by Rule 16b-3 under the Exchange Act. To the extent that any provision of the
Plan or action by the Administrator does not comply with the requirements of Rule 16b-3, it shall be deemed inoperative with respect to such Awards to the extent permitted by law
and deemed advisable by the Administrator, and shall not affect the validity of the Plan. In the event that Rule 16b-3 is revised or replaced, the Administrator may exercise its
discretion to modify this Plan in any respect necessary to satisfy the requirements of, or to take advantage of any features of, the revised exemption or its replacement. 

12.   ESTABLISHMENT OF SUB-PLANS  

        The Board may from time to time establish one or more sub-plans under the Plan for purposes of satisfying applicable blue sky, securities or tax laws of various
jurisdictions. The Board shall establish such sub-plans by adopting supplements to the Plan setting forth (i) such limitations on the Administrator's discretion under the Plan as the Board
deems necessary or desirable and (ii) such additional terms and conditions not otherwise inconsistent with the Plan as the Board shall deem necessary or desirable. All supplements adopted by
the Board shall be deemed to be part of the Plan, but each supplement shall apply only to Participants within the affected jurisdiction and the Company 

8

 

shall
not be required to provide copies of any supplement to Participants in any jurisdiction that is not affected. 

13.   GOVERNING LAW  

        Except as otherwise provided by the express terms of an Award agreement or under a sub-plan described in Section 12, the provisions of the Plan and of
Awards under the Plan and all claims or disputes arising out of our based upon the Plan or any Award under the Plan or relating to the subject matter hereof or thereof will be governed by and
construed in accordance with the domestic substantive laws of the State of Delaware without giving effect to any choice or conflict of laws provision or rule that would cause the application of the
domestic substantive laws of any other jurisdiction. 

9

 

 
    EXHIBIT A    
    

          

 
  Definition of Terms    
    

        The following terms, when used in the Plan, will have the meanings and be subject to the provisions set forth below: 

         "Administrator":    The Compensation Committee, except that the Compensation Committee may delegate (i) to one or more of its members
(or one or
more other members of the Board) such of its duties, powers and responsibilities as it may determine; (ii) to one or more officers of the Company the power to grant rights or options to the
extent permitted by Section 157(c) of the Delaware General Corporation Law; and (iii) to such Employees or other persons as it determines such ministerial tasks as it deems appropriate.
In the event of any delegation described in the preceding sentence, the term "Administrator" shall include the person or persons so delegated to the extent of such delegation. 

         "Affiliate":    Any corporation or other entity that stands in a relationship to the Company that would result in the Company and such
corporation or
other entity being treated as one employer under
Section 414(b) and Section 414(c) of the Code, except that in determining eligibility for the grant of an Award by reason of service for an Affiliate, Sections 414(b) and 414(c)
of the Code shall be applied by substituting "at least 50%" for "at least 80%" under Section 1563(a)(1), (2) and (3) of the Code and Treas. Regs. § 1.414(c)-2;  provided, that to the
extent permitted under Section 409A, "at least 20%" shall be used in lieu of "at least 50%"; and
further provided, that the lower ownership threshold described in this definition (50% or 20% as the case may be) shall apply only if the same definition of affiliation is used
consistently with respect to all compensatory stock options or stock awards (whether under the Plan or another plan). The Company may at any time by amendment provide that different ownership
thresholds (consistent with Section 409A) apply but any such change shall not be effective for twelve (12) months. 

         "Award":    Any or a combination of the following: 

          (i)  Stock
Options. 

         (ii)  SARs. 

        (iii)  Restricted
Stock 

        (iv)  Unrestricted
Stock. 

         (v)  Stock
Units, including Restricted Stock Units. 

        (vi)  Performance
Awards.  

	(vii)
	Cash
Awards.

	(viii)
	Awards
(other than Awards described in (i) through (vi) above) that are convertible into or otherwise based on Stock. 

         "Board":    The Board of Directors of the Company. 

         "Cash Award":    An Award denominated in cash. 

        "Cause":    In the case of any Participant, unless a defined term "cause" is set forth in a Participant's Award or employment agreement in
which case
such definition shall govern, a termination by the Company or an affiliate of the Participant's Employment or a termination by the Participant of the Participant's Employment, in either case following
the occurrence of any of the following events: (i) the commission of a felony or other crime involving moral turpitude or the commission of any other act or omission involving dishonesty,
disloyalty or fraud with respect to the Company or any of its 

10

 

Affiliates
or any of their customers or suppliers, (ii) repeatedly reporting to work under the influence of alcohol or illegal drugs, the use of illegal drugs in the workplace or other repeated
conduct causing the Company or any of its Affiliates substantial public disgrace or disrepute or substantial economic harm, (iii) substantial and repeated failure to perform duties as
reasonably directed by the Participant's supervisor, (iv) any act or omission aiding or abetting a supplier or customer of the Company or any of its Affiliates to the material disadvantage or
detriment of the Company and its Affiliates, (v) breach of fiduciary duty, gross negligence or willful misconduct with respect to the Company or any of its Affiliates or (vi) any other
material breach of the Participant's employment agreement, if any, which is not cured to the Company's reasonable satisfaction within fifteen (15) days after written notice to the Participant. 

         "Code":    The U.S. Internal Revenue Code of 1986 as from time to time amended and in effect, or any successor statute as from time to
time in effect. 

         "Company":    GT Advanced Technologies Inc. 

        "Compensation Committee":    The compensation committee of the Board or the Board if the compensation committee ceases to exist and the
Board does not
appoint a successor committee. 

         "Competitive Activity":    engaging, directly or indirectly, alone or as principal, agent, employee, employer, consultant, investor,
partner or manager,
or providing advisory or other services to, or owning any stock or any other ownership interest in, or making any financial investment in any business (or entity) that engages in any business in which
the Company and its subsidiaries are engaged, or that provides any material products and/or services that the Company or its subsidiaries were actively developing or designing (provided that where
such Competitive Activity occurs following termination of Employment, the Competitive Activity shall be determined at the date of termination); provided, that the foregoing shall not restrict the
Participant from owning less than two percent (2%) of the outstanding securities of any class of securities listed on a national exchange or inter-dealer quotation system. 

         "Covered Transaction":    Any of (i) a consolidation, merger, or similar transaction or series of related transactions, including a
sale or other
disposition of stock, in which the Company is not the surviving corporation or which results in the acquisition of a majority of the Company's then outstanding common stock by a single person or
entity or by a group of persons and/or entities acting in concert, in each case by other than an Affiliate (ii) a sale or transfer of all or substantially all the Company's assets, or
(iii) a dissolution or liquidation of the Company. Where a Covered Transaction involves a tender offer that is reasonably expected to be followed by a merger described in clause (i) (as
determined by the Administrator), the Covered Transaction will be deemed to have occurred upon consummation of the tender offer. 

         "Effective Date":    August 24, 2011. 

        "Employee":    Any person who has an Employment relationship with the Company or an Affiliate. 

         "Employment":    A Participant's employment or other service relationship with the Company and its Affiliates. Employment will be deemed
to continue,
unless the Administrator expressly provides otherwise, so long as the Participant is employed by, or otherwise is providing services in a capacity described in Section 5 to the Company or an
Affiliates. If a Participant's employment or other service relationship is with an Affiliate and that entity ceases to be an Affiliate, the Participant's Employment will be deemed to have terminated
when the entity ceases to be an Affiliate unless the Participant transfers Employment to the Company or its remaining Affiliates. Notwithstanding the foregoing, in construing the provisions of any
Award relating to the payment of "nonqualified deferred compensation" (subject to Section 409A) upon a termination or cessation of Employment, references to termination or cessation of
employment, separation from service, retirement or similar or correlative 

11

 

terms
shall be construed to require a "separation from service" (as that term is defined in Section 1.409A-1(h) of the Treasury Regulations) from the Company and from all other
corporations and trades or businesses, if any, that would be treated as a single "service recipient" with the Company under Section 1.409A-1(h)(3) of the Treasury Regulations. The
Company may, but need not, elect in writing, subject to the applicable limitations under Section 409A, any of the special elective rules prescribed in Section 1.409A-1(h) of
the Treasury Regulations for purposes of determining whether a "separation from service" has occurred. Any such written election shall be deemed a part of the Plan. 

         "Exchange Act":    The Securities Exchange Act of 1934, as from time to time amended and in effect, or any successor statute as from time
to time in
effect. 

        "Existing Plans":    The GT Solar International, Inc. 2008 Equity Incentive Plan and the Second Amended and Restated GT Solar
International, Inc. 2006 Stock Option Plan; 

         "Fair Market Value":    Except as otherwise specified in a particular Award, (a) while the Stock is readily traded on an established
national or
regional securities exchange, the closing transaction price of such Stock as reported by the principal exchange on which such Stock is traded on the date as of which such value is being determined or,
if there were no reported transactions 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 Stock is not readily traded on an established national or regional securities exchange, the average of the bid and ask
prices for such Stock on the date as of which such value is being determined, where quoted for such Stock, or (c) if Fair Market Value cannot be determined under clause (a) or
clause (b) above, or if the Administrator determines in its sole discretion that the Stock is too thinly traded for
Fair Market Value to be determined pursuant to clause (a) or clause (b), the value as determined by the Administrator, in its sole discretion, on a good faith basis. 

        "ISO":    A Stock Option intended to be an "incentive stock option" within the meaning of Section 422. Each option granted pursuant to
the Plan
will be treated as providing by its terms that it is to be a non-incentive stock option unless, as of the date of grant, it is expressly designated as an ISO. 

         "Participant":    A person who is granted an Award under the Plan. 

         "Performance Award":    An Award subject to Performance Criteria. The Compensation Committee in its discretion may grant Performance
Awards that are
intended to qualify for the performance-based compensation exception under Section 162(m) and Performance Awards that are not intended so to qualify. 

         "Performance Criteria":    Specified criteria, other than the mere continuation of Employment or the mere passage of time, the
satisfaction of which is
a condition for the grant, exercisability, vesting or full enjoyment of an Award. For purposes of Awards that are intended to qualify for the performance-based compensation exception under
Section 162(m), a Performance Criterion will mean an objectively determinable measure of performance relating to any or any combination of the following (measured either absolutely or by
reference to an index or indices and determined either on a consolidated basis or, as the context permits, on a divisional, subsidiary, line of business, project or geographical basis or in
combinations thereof): sales; revenues or revenue growth; assets; expenses; earnings, operating income (or a metric based thereon), including without limitation income or profits before or after
deduction for all or any portion of interest, taxes, depreciation, or amortization, whether or not on a continuing operations or an aggregate or per share basis; financial returns (including, without
limitation, return on equity, investment, capital or assets); returns relative to peers; one or more operating ratios; borrowing levels, leverage ratios or credit rating; market share; capital
expenditures; cash flow; cost reduction targets; stock price; stockholder return; sales of particular products or services; bookings; customer acquisition, retention, satisfaction or growth; employee
satisfaction; 

12

 

acquisitions
and divestitures (in whole or in part); joint ventures and strategic alliances; spin-offs, split-ups and the like; reorganizations; recapitalizations, restructurings, financings (issuance
of debt or equity) or refinancings; or such other criteria as the Administrator may determine. A Performance
Criterion and any targets with respect thereto determined by the Administrator need not be based upon an increase, a positive or improved result or avoidance of loss. 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 Administrator 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. To the extent consistent with the requirements for
satisfying the performance-based compensation exception under Section 162(m), the Administrator may provide in the case of any Award intended to qualify for such exception that one or more of
the Performance Criteria applicable to such Award will be adjusted in an objectively determinable manner to reflect events (for example, but without limitation, acquisitions or dispositions) occurring
during the performance period that affect the applicable Performance Criterion or Criteria. 

         "Plan":    The GT Advanced Technologies Inc. 2011 Equity Incentive Plan as from time to time amended and in effect. 

         "Restricted Stock":    Stock subject to restrictions requiring that it be redelivered or offered for sale to the Company if specified
conditions are not
satisfied. 

        "Restricted Stock Unit":    A Stock Unit that is, or as to which the delivery of Stock or cash in lieu of Stock is, subject to the
satisfaction of
specified performance or other vesting conditions. 

         "SAR":    A right entitling the holder upon exercise to receive an amount (payable in cash or in shares of Stock of equivalent value)
equal to the
excess of the Fair Market Value of the shares of Stock subject to the right over the base value from which appreciation under the SAR is to be measured. 

        "Section 162(m)":    Section 162(m) of the Code. 

         "Section 409A":    Section 409A of the Code. 

         "Section 422":    Section 422 of the Code. 

         "Stock":    Common stock of the Company, par value $0.01 per share. 

        "Stock Option":    An option entitling the holder to acquire shares of Stock upon payment of the exercise price. 

         "Stock Unit":    An unfunded and unsecured promise, denominated in shares of Stock, to deliver Stock or cash measured by the value of
Stock in the
future. 

         "Unrestricted Stock":    Stock not subject to any restrictions under the terms of the Award. 

13

QuickLinks

Exhibit 10.1

GT ADVANCED TECHNOLOGIES INC. 2011 EQUITY INCENTIVE PLAN

EXHIBIT A

Definition of Terms

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