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Exhibit 10.25  

 
  STOCK OPTION AGREEMENT    
    

        1.    Grant of Option.    GT Solar International, Inc., a Delaware corporation (the
"Company"), grants
to                                    (the "Optionee"),
effective                                  (the
"Grant Date"), an option (the "Option") to purchase an aggregate
of                                    shares of the
Company's common stock, par value $0.01 per share ("Shares" of "Stock"), at a price of $        
per Share (the "Option Price"). The Option is granted pursuant to the Company's 2006 Stock Option Plan, dated December 30, 2005, as amended and
restated on July 7, 2006 and on January 15, 2008 (as so amended, the "Plan"), attached hereto as  Exhibit A, and is subject to the terms and
conditions of this Stock Option Agreement (this
"Agreement") and of the Plan. The Shares subject to the Option are referred to collectively as the "Option
Shares." All Option Shares shall be subject to the GT Solar International, Inc. Amended and Restated Employee Stockholders Agreement (the
"Stockholders Agreement"), a copy of which is attached to the Plan as Exhibit B, and no portion of the Option shall be exercisable until such
time as the Optionee has signed or otherwise joined in the Stockholders Agreement in a manner satisfactory to the Company. The grant of the Option by the Company is subject to the Optionee's execution
and delivery of the Employee Non-Competition, Non-Disclosure, Proprietary Information and Patent and Invention Assignment Agreement between the Optionee and either the Company
or GT Solar Incorporated, a Delaware corporation and a wholly-owned subsidiary of the Company ("GT Solar") (or, at the discretion of the Committee, a
similar agreement containing such terms as the Committee shall determine) (the "Optionee Non-Disclosure Agreement"), and the Option and all
Option Shares shall be subject to the terms and conditions of the Optionee Non-Disclosure Agreement. This Option is not intended to qualify as an incentive stock
option within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended. All capitalized terms not defined herein shall have the meanings ascribed to
them in the Plan. 

        2.    Basic Terms of Option.    

        (a)    Term.    The term of the Option shall continue from the Grant Date until the date immediately preceding the
tenth anniversary of the Grant Date (the "Expiration Date"), provided the Option shall only be exercisable as permitted in Sections 2(b), 2(c)
and 2(d) below. 

        (b)    Vesting.    Only the vested portion of the Option may be exercised. Except as otherwise specifically provided
in this Agreement and subject to the continuous employment or engagement of the Optionee with the Company or any subsidiary or affiliate of the Company (the Company and its subsidiaries and affiliates
are referred to collectively as the "Group" and each individually as a "Group Company") until the date
on which the Option or applicable portion thereof is scheduled to become vested, the Option shall become vested with respect to (i) 1/4th of the Option Shares on the first anniversary of
the Grant Date, and (ii) 1/48th of the Option Shares upon the passing of each full month thereafter (such that, subject to the other terms and conditions of this Agreement, the Option
shall be vested with respect to all Option Shares on the fourth anniversary of the Grant Date). The Option, to the extent vested, shall become exercisable only as provided in Section 2(c)
below, and once exercisable, shall thereafter remain exercisable until the Expiration Date, subject to Section 2(d) below. The Committee, in its discretion, may accelerate the vesting or
exercisability of the Option or any part thereof at any time and from time to time. Unless sooner terminated in accordance with the terms of this Agreement, the entire Option shall expire on the
Expiration Date and may not be exercised in whole or in any part at any time thereafter. 

        (c)    Timing of Exercise.    Unless consented to by the Committee or unless otherwise determined by the Committee
pursuant to Section 4(c) of the Plan, no portion of the Option may be exercised until (A) such portion has vested and (B) the earlier of the occurrence of any of the following
five events after the Grant Date: (i) termination of the Optionee's employment with the Group, (ii) a "Change in Control" of the Company, (iii) the consummation of an initial
public offering of the Company's Stock pursuant to a registration statement filed under the Securities Act of 1933, as amended, on Form S-1, (iv) the admission of the
Company's Shares to trading on a 

 

regulated
market (as defined by Article 1(13) of the EC Directive 93/22/EEC) or the AIM market operated by the London Stock Exchange plc, or (v) the day immediately prior to the
tenth anniversary of the Grant Date. For this purpose, (x) the term "Change in Control" means (i) the consummation of any transaction or series of transactions resulting in a Third Party
(or group of affiliated third parties) owning, directly or indirectly, securities of the Company possessing the voting power to elect a majority of the Company's board of directors (whether by merger,
consolidation or sale or transfer of the Company's securities) or (ii) the sale, transfer or other disposition of all or substantially all of the business and assets of the Company, whether by
sale of assets, merger or otherwise (determined on a consolidated basis) to a Third Party (or group of affiliated third parties), and (y) the term "Third Party" means any person or entity who
or which (i) does not own any of the Company's securities as of the date of this Agreement, (ii) is not controlling, controlled by or under common control with any person or entity that
owns any of the Company's securities as of the date of this Agreement, and (iii) is not the spouse or descendent (by birth or adoption) of any person who directly or indirectly owns or controls
any of the Company's securities as of the date of this Agreement. 

        (d)    Exercise Following Termination of Employment or Engagement.    

        (i)    General.    Except as otherwise provided in this Section 2(d), if the Optionee ceases to be employed or
engaged with the Group for any reason, the portion of the Option which has not then become vested (the "Unvested Portion") shall automatically expire
and the portion of the Option, if any, which has become vested and has not yet been exercised (the "Vested Portion") shall be and continue to be
exercisable until the earlier of (x) the date that is sixty (60) days after the date of termination of employment or engagement or (y) the Expiration Date, whereupon the Vested
Portion shall automatically expire to the extent not then exercised. 

        (ii)    Cause.    If the Optionee's employment or engagement is terminated for Cause (including any termination if it
is later determined that Cause existed at the time of termination), the entire Option, including the Vested Portion shall expire immediately upon such termination. Cause, shall mean that the Committee
has formed a reasonable good faith belief that any of the following acts or circumstances have occurred: 

        (A)  acts
or omissions on the part of the Optionee that constitute intentional material misconduct or a knowing violation of a material policy of the Group; 

        (B)  the
Optionee's receipt of a benefit, directly or indirectly, in money, property or services from the Group or from another person dealing with the Group, in material
violation of applicable law or policy of the Group; 

        (C)  the
Optionee's willful destruction of property of the Group having a material value; 

        (D)  fraud,
embezzlement or theft from the Group, or comparable dishonest activity committed on the part of the Optionee against the Group, or comparable dishonest activity
committed on the part of the Optionee that might otherwise have a material detrimental effect on the Group; 

        (E)  the
Optionee's conviction of or entering a plea of guilty or nolo contendere to any crime involving fraud, embezzlement or moral turpitude (excluding acts involving a de
minimis dollar value and not related to the Group, provided that such acts do not otherwise have a material detrimental effect on the Group); 

        (F)  the
Optionee's failure in a material manner to discharge his or her duties (other than due to physical or mental illness) commensurate with his or her title and function
or the Optionee's failure to comply with the lawful directions of the Company, or the 

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Optionee's
breach of any other provision of this Option Agreement or any other agreement between an Optionee and the Group in any material respect, in any such case described in this clause (F)
that is not cured (if curable) within thirty (30) days after the Optionee has received written notice thereof from any Group Company; or 

        (G)  a
willful and knowing material misrepresentation by the Optionee to the Committee. 

        (iii)    Death or Disability.    If the Optionee's employment or engagement is terminated by reason of the Optionee's
death or Disability (defined below), then upon such termination the Unvested Portion shall automatically expire and the Vested Portion shall be and continue to be exercisable until the earlier of
(A) the one hundred and eightieth (180th) day after the date of such termination or (B) the Expiration Date, whereupon the Vested Portion shall automatically expire to the extent not
then exercised. A termination for "Disability" means any termination (x) that is for Disability pursuant to the Optionee's employment agreement,
if any, or (y) in the absence of such an agreement defining Disability, if at the time of termination the Optionee is eligible to receive long-term disability benefits under any
applicable Group plan or program or Group disability insurance policy, or any other termination that the Committee, in its discretion, determines is a termination for Disability. 

        (iv)    Committee Discretion.    Notwithstanding anything to the contrary in Section 2(d), the Committee, in
its discretion may extend the period following termination during which the Vested Portion may be exercised. 

        (v)    Limits on Extended Exercisability.    If the Option is an Incentive Stock Option, in order to obtain the
federal income tax advantages associated with an "incentive stock option," the Code requires that at all times beginning on the date of grant of the Option and ending on the day three
(3) months before the date of the Option's exercise, the Optionee must be an employee of a Group Company, except in the event of the Optionee's death or Disability. The Company has provided for
extended exercisability of the Option under certain circumstances for the Optionee's benefit but cannot guarantee that the Option will necessarily be treated as an "incentive stock option" if the
Optionee continues to provide services to a Group Company in any non-employee capacity after the Optionee's employment terminates or if the Optionee otherwise exercise the Option more than
three (3) months after the date the Optionee's employment terminates. 

        (vi)    Violations of Optionee Non-Disclosure Agreement.    Notwithstanding anything to the contrary in
Section 2 above or elsewhere, and without limiting any rights or remedies of the Company or GT Solar under the Optionee Non-Disclosure Agreement or otherwise, upon any violation of
the Optionee Non-Disclosure Agreement, (A) the Option shall be cancelled
and immediately forfeited by the Optionee, (B) the Company shall have the assignable right and option, exercisable in its discretion, to purchase from the Optionee (or any
"Permitted Transferee" as defined in the Stockholders Agreement) any Option Shares theretofore acquired pursuant to the Option at a purchase price equal
to the lesser of the Exercise Price paid for such Option Shares or the Fair Market Value of such Option Shares as of the time of repurchase, and (C) to the extent that the Optionee or any
Permitted Transferee shall have sold, transferred or otherwise disposed of any Option Shares, the Optionee shall be required to pay the Company on demand the amount, if any, by which the amount of any
proceeds received by the Optionee or any Permitted Transferee in connection with such sale, transfer or other disposition exceeds the Exercise Price paid for such Option Shares. These remedies are
cumulative and in addition to any other rights and remedies the Company may have under the Optionee Non-Disclosure Agreement or otherwise, including equitable relief and the recovery of
damages from the Optionee. 

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        (vii)    Limits on Incentive Stock Options.    If the Option is an Incentive Stock Option, then to the extent that the
aggregate Fair Market Value (determined at the time of grant) of the Shares with respect to which the Option plus all other Incentive Stock Options the Optionee holds are exercisable for the first
time by the Optionee during any calendar year (under all plans of the Group Companies) exceeds one hundred thousand dollars ($100,000), the Optionee's Option(s) or portions thereof that exceed such
limit (according to the order in which they were granted) shall be treated as Non-qualified Stock Options. 

        3.    Exercise of Option.    

        (a)    Exercise Notice.    The Vested Portion may be exercised with respect to all or any part of the Vested Portion
by written notice from the Optionee to the Company ("Exercise Notice") specifying the number of whole Option Shares with respect to which the Option is
being exercised (the "Exercise Shares"), and the aggregate Option Price for such Exercise Shares. The Option may not be exercised for any fractional
Share unless the Committee determines otherwise. 

        (b)    Closing Payment.    Upon receipt of the Exercise Notice, the Company shall schedule a closing date (the
"Exercise Date") that is not later than thirty (30) business days following its receipt of the Exercise Notice. On or before the Exercise Date
(x) the Optionee shall deliver to the Company full payment for the Exercise Shares either (A) in cash, by certified or bank check payable to the order of the Company or (B) by
payment in such other form as the Committee, in its discretion, may permit, in an amount equal to the product of the Option Price on the Exercise Date and the number of Exercise Shares to be purchased
(such amount, the "Exercise Price"), (y) the Optionee shall join in and become a party to the Stockholders Agreement by written instrument in
form and substance satisfactory to the Committee, and (z) the Optionee and the Company shall enter into a subscription agreement with respect to the Exercise Shares (the
"Subscription Agreement") in form and substance satisfactory to the Committee. 

        (c)    Delivery of Shares.    Upon payment of the Exercise Price, the Optionee's execution and delivery of the
Subscription Agreement, and the Optionee's joining in and becoming a party to the Stockholders Agreement, the Company shall make prompt delivery of a certificate or certificates representing the
Exercise Shares, registered in the name of the Optionee and bearing an appropriate legend as provided in Section 8(b) below; provided however, that if the Company or its counsel determines that
compliance with any applicable law or regulation requires that the Company take any action prior to the issuance of the Exercise Shares to the Optionee, then the Exercise Date shall be extended for
such period as may be necessary to complete such action and no Shares shall be issued unless and until the Company's counsel has determined that the Company has complied with all applicable securities
laws, the listing requirements of any securities exchange on which stock of the same class as the Stock is then listed, and any other law or regulation applicable to such issuance. The Company may
require that the Optionee furnish or execute such other documents as the Company shall reasonably deem necessary to (i) evidence such exercise, (ii) determine whether registration is
then required under applicable securities law, and (iii) comply with or satisfy the requirements of applicable securities law or other applicable law. 

        (d)    Notice of Disposition of Shares.    If the Option is an Incentive Stock Option, by exercising the Option the
Optionee agrees that the Optionee will notify the Company in writing within fifteen (15) days after the date of any disposition of any of the Shares issued upon exercise of the Option that
occurs within two (2) years after the date of the Option grant or within one (1) year after such Shares are transferred upon exercise of the Option. 

        4.    Nontransferability of Option.    

        (a)    Restrictions Generally.    This Option is personal to the Optionee and neither the Option nor any of the rights
of the Optionee hereunder may be transferred, assigned, pledged or 

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hypothecated
in any way (whether by operation of law or otherwise) except by the laws of descent and distribution, nor shall the Option or any rights with respect thereto be subject to execution,
attachment or similar process. Upon any attempted transfer, assignment, pledge, hypothecation or other disposition of the Option or of any rights with respect thereto contrary to the provisions of
this Agreement, or upon the placement or levy of any attachment or similar process on the Option or any of the Optionee's rights hereunder, the Option and all such rights shall expire and become null
and void, unless the Committee, in its discretion, determines otherwise. 

        (b)    Permitted Transfers.    Notwithstanding anything to the contrary in Section 4(a) above, an Optionee may,
with the consent of the Company, which shall not be unreasonably withheld, Transfer by gift all or any portion of an Option to a trust or trusts (or other entity approved by the Committee in its
discretion) for the exclusive benefit of one or more members of such Optionee's Immediate Family, provided that the Option shall continue to be subject to all of the terms and conditions of this
Agreement and the Plan as if no such Transfer had occurred and the Optionee and the transferee shall execute and deliver to the Company such instruments or agreements as the Company may reasonably
require to confirm the foregoing. As used herein, "Immediate Family" means, with respect to any person, such person's
child, stepchild, grandchild, parent, grandparent, spouse, brother, or sister (or other family relationships specifically approved by the Committee). 

        5.    No Special Rights.    The Optionee shall have no rights as a shareholder with respect to any Option Shares
unless and until a certificate representing such Option Shares is duly issued and delivered to the Optionee and the Optionee joins in and becomes a party to the Stockholders Agreement. No adjustment
shall be made for dividends or other rights for which the record date is prior to the date such stock certificate is issued. The Optionee, if an employee of any Group Company, hereby acknowledges that
Optionee is an "at will" employee, director, consultant or advisor, as applicable, and that Optionee's employment or engagement may be terminated at any time, before or after exercise of the Option,
by either Optionee or the Group, with or without cause. Nothing herein or in the Plan shall be deemed to confer on the Optionee any right to continued employment or engagement by the Group or limit in
any way the right of the Group to terminate such employment or engagement at any time. 

        6.    Adjustment Transactions.    The Option and all rights and obligations under this Agreement are subject to
Section 10 of the Plan, the terms of which are incorporated herein by this reference. 

        7.    Withholding Taxes.    The Company's obligation to deliver Shares upon the exercise of the Option is subject to
the Optionee's satisfaction of all applicable federal, state and local income and employment tax withholding requirements. Whenever Shares are to be issued pursuant to the Option, the Company may
require the Optionee to remit to the Company an amount in cash sufficient to satisfy any applicable federal, state and local income and employment tax withholding requirements as a condition to the
issuance of such Shares. 

        8.    Investment Representations; Legend.    

        (a)    Representations.    The Optionee represents, warrants, covenants and agrees that: 

          (i)  The
Option has been, and any Exercise Shares will be, acquired for the Optionee's account for investment only and not with a view to, or for sale in connection with,
any distribution thereof. The Optionee agrees that the Optionee will not, directly or indirectly, offer, transfer, sell, pledge, hypothecate or otherwise dispose of all or any part of the Option or
any Exercise Shares (or solicit offers to buy, purchase or otherwise acquire or take a pledge of all or any part of the Option or any Exercise Shares), except in compliance with the Securities Act of
1933 (the "Securities Act") and any applicable rules and regulations thereunder, and in compliance with applicable state securities laws. 

5

 

         (ii)  The
Optionee has had such opportunity as he or she has deemed adequate to obtain from representatives of the Company such information as is necessary to permit the
Optionee to evaluate the merits and risks of his or her investment in the Company. 

        (iii)  The
Optionee is able to bear the economic risk of holding Shares acquired pursuant to the exercise of the Option for an indefinite period. 

        (iv)  The
Optionee understands that (A) the Exercise Shares acquired will not be registered under the Securities Act and are "restricted securities" within the meaning
of Rule 144 under the Securities Act; (B) such Shares cannot be sold, transferred or otherwise disposed of unless they are subsequently registered under the Securities Act or an
exemption from registration is then available; (C) in any event, the exemption from registration under Rule 144 will not be available for at least one year after issuance of the Exercise
Shares, and even then will not be available unless a public market then exists for the Shares, adequate information concerning the Company is then available to the public and other terms and
conditions of Rule 144 are complied with; and (D) there is now no registration statement on file with the Securities and Exchange Commission with respect to any stock of the Company and
the Company has no obligation or current intention to register any Exercise Shares under the Securities Act. 

         (v)  In
respect of any Option Shares purchased upon exercise of all or any part of the Option, the Optionee shall be entitled to the rights and subject to the obligations
created under the Stockholders Agreement to the extent set forth therein. 

        By
making payment of the Exercise Price, the Optionee shall be deemed to have remade and reaffirmed, as of the Exercise Date, all of the representations, warranties, covenants and
agreements made in this Section 8. 

        (b)    Legend on Stock Certificates.    All stock certificates representing Exercise Shares shall have affixed thereto
a legend substantially in the following form, in addition to any other legends required by applicable state law: 

The
shares represented by this certificate are subject to the provisions of (i) a certain Optionee Non-Disclosure Agreement and (ii) a certain Stock Option Agreement, a copy
of each of which is on file with the Secretary of the Company. The shares represented by this certificate are entitled to certain of the benefits and are bound by certain of the obligations set forth
in an Employee Stockholders Agreement among the Company and certain of its stockholders, as the same may be amended from time to time, a copy of the current form of which is on file with the Secretary
of the Company. 

The
shares of stock represented by this certificate have not been registered under the Securities Act of 1933 and may not be transferred, sold or otherwise disposed of in the absence of an effective
registration statement with respect to the shares evidenced by this certificate, filed and made effective under the Securities Act of 1933, or an opinion of counsel satisfactory to the Company to the
effect that registration under such Act is not required. 

        9.    Miscellaneous.    

        (a)   Except
as provided herein, this Option may not be amended or otherwise modified unless evidenced in writing and signed by the Company and the Optionee. 

        (b)   Any
notices or other communications required or permitted under this Option Agreement ("Notices") shall be in writing and
shall be either personally delivered, sent by express or first class 

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mail
postage prepaid), return receipt requested, or sent by nationally recognized overnight courier service (overnight delivery, charges prepaid), addressed as follows: 

	If to the Company:	 	GT Solar International, Inc.

243 Daniel Webster Highway

Merrimack, New Hampshire 03054

Attention: Chief Executive Officer
	

If to the Optionee:	
 	

To the Optionee's address as set forth in the Group's payroll records.

        Either
party may change its address for Notices by written Notice to the other given in accordance with this Section 9(b). Notices shall be deemed given when delivered personally,
three days after deposit in the U.S. mail, or two business days after deposit with a nationally recognized overnight courier service, as applicable. 

        (c)   The
Option and the rights and obligations of the Company and the Optionee hereunder are subject to the terms and conditions of the Plan. In the event of any conflict
between the terms of the Plan and the terms of this Agreement, the terms of the Plan shall govern. Capitalized terms used and not otherwise defined herein shall have the meanings given such terms in
the Plan. 

        (d)   The
provisions of Section 4(b) of the Plan are specifically incorporated herein. Any Committee interpretation of the provisions of the Plan or this Agreement
shall be final and binding on all parties. 

        (e)   This
Agreement shall be governed by, and construed in accordance with, the laws of the State of Delaware, without giving effect to any choice of law or conflict of law
rules or provisions (whether of the State of Delaware or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of Delaware. Any dispute relating
to this Agreement shall be heard in the state or federal courts of the State of New Hampshire, and the parties agree to jurisdiction and venue therein. 

        (f)    The
Optionee shall keep the terms of this Agreement strictly confidential other than as may be necessary to enforce his or her rights hereunder or as otherwise required
by law. 

        *            *            *        
    *            *

7

	 	 	GT SOLAR INTERNATIONAL, INC.
	

 	
 	

By:	
 	

	 	 	 	 	Name:
	 	 	 	 	Title:

OPTIONEE'S
ACCEPTANCE 

        The
undersigned hereby accepts the foregoing Option, acknowledges receipt of a copy of the Company's 2006 Stock Option Plan, dated December 30, 2005, as amended and restated on
July 7, 2006 and on January 15, 2008, and agrees to the terms and conditions of both. 

	 	 	
 Optionee Name:
[                                    ]
	

 	
 	

Address:	
 	

	

 	
 	

 	
 	

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Exhibit 10.26    
    

 
  GT SOLAR INTERNATIONAL, INC.    
    

 
  RESTRICTED STOCK AGREEMENT    
    

        THIS AGREEMENT (the "Agreement") is made as of March 17, 2008, by and between GT Solar
International, Inc., a Delaware corporation (the "Company"), and Robert W. Woodbury
("Executive"). 

        The
Company and Executive desire to enter into an agreement pursuant to which the Company shall grant to Executive five thousand (5,000) shares of the Company's common stock, par value
$.01 per share (the "Common Stock"). All of such shares of Common Stock and all shares of Common Stock hereafter acquired by Executive pursuant to this
Agreement are referred to herein as "Executive Stock." The issuance of shares of Executive Stock to Executive hereunder is intended to be exempt from
registration under the Securities Act of 1933 pursuant to Rule 701 thereunder. Certain definitions are set forth in Section 6 of this
Agreement. 

        The
parties hereto agree as follows: 

        1.    Grant of Executive Stock.    

        (a)   The
Company hereby grants to Executive, as of the date hereof, 5,000 shares of Common Stock, subject to the terms and conditions hereunder. Executive agrees and
understands that nothing contained in this Agreement provides, or is intended to provide, Executive with any protection against potential future dilution of Executive's stockholder interest in the
Company for any reason. 

        (b)   The
grant of the Executive Stock by the Company is subject to Executive's execution and delivery of the Employment Agreement between Executive and the Company. 

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

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

         (ii)  Executive
acknowledges that the Executive Stock has not been registered under the Securities Act and, therefore, cannot be sold unless subsequently registered under the
Securities Act or an exemption from such registration is available. 

        (iii)  Executive
is the chief financial officer of the Company, is sophisticated in financial matters and is able to evaluate the risks and benefits of the investment in the
Executive Stock. 

        (iv)  Executive
is able to bear the economic risk of holding the Executive Stock for an indefinite period of time because the Executive Stock has not been registered under
the Securities Act and, therefore, cannot be sold unless subsequently registered under the Securities Act or an exemption from such registration is available. 

         (v)  Executive
is an "accredited investor" as such term is defined in Rule 501 under the Securities Act. 

        (vi)  Executive
has had an opportunity to ask questions and receive answers concerning the terms and conditions of the offering of Executive Stock and has had full access to
such other information concerning the Company as he has requested. Executive has reviewed, or has had an opportunity to review, the following documents: (A) the Company's Certificate of
Incorporation and Bylaws, and (B) the Stockholders' Agreement. 

       (vii)  This
Agreement constitutes the legal, valid and binding obligation of Executive, enforceable in accordance with its terms, and the execution, delivery and performance
of this 

 

Agreement
by Executive do not and shall not conflict with, violate or cause a breach of any agreement, contract or instrument to which Executive is a party or any judgment, order or decree to which
Executive is subject. 

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

        (ix)  Executive
is a resident of the Commonwealth of Massachusetts. 

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

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

        (e)   The
Company and Executive acknowledge and agree that this Agreement has been executed and delivered, and the Executive Stock has been issued hereunder, in connection
with and as a part of the compensation and incentive arrangements between the Company and Executive. 

        (f)    In
connection with the grant of the Executive Stock hereunder, Executive hereby agrees and acknowledges that all of the shares of Executive Stock are subject in all
respects to the terms of this Agreement, the Stockholders' Agreement (as if the shares of Executive Stock were "Covered Shares," as defined in such agreement), and the Registration Rights Agreement,
each as may be amended from time to time. In addition, Executive hereby accepts all the terms and conditions of (i) the Stockholders' Agreement, which terms and conditions include restrictions
on transfer and rights of repurchase in favor of the Company, and agrees to be bound in all respects as an "Executive Stockholder" thereunder, and (ii) the Registration Rights Agreement.
Notwithstanding the foregoing, Executive agrees and acknowledges that under no circumstances may any unvested shares of Executive Stock be transferred to any Person except in connection with a Drag
Along Transaction (as defined in the Stockholders' Agreement) pursuant to the Stockholders' Agreement. 

        2.    Vesting of Executive Stock.    

        (a)   Except
as otherwise provided in this Section 2, the Executive Stock shall become vested in accordance with the
following schedule, if as of each such date Executive is employed by the Company or any of its Subsidiaries, such that, subject to the other terms and conditions of this Agreement, all of the
Executive Stock shall be vested on the fourth anniversary of the Employment Agreement: 

	Date
 
	 	Portion of Executive

Stock Vested
	 
	First anniversary of the Employment Agreement	 	25	%
	Upon the passing of each full month thereafter	 	1/48th	 

        (b)   Except
as otherwise provided in this Section 2, if Executive's employment with the Company and/or its Subsidiaries
terminates for any reason (including upon the death or Disability 

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(as
defined in the Employment Agreement) of Executive prior to the vesting of all or any portion of the Executive Stock awarded under this Agreement, such unvested portion of the Executive Stock shall
immediately be cancelled and Executive (and Executive's estate, designated beneficiary or other legal representative) shall forfeit any rights or interests in and with respect to any such shares of
Executive Stock. The Board, or a duly designated committee thereof, in its sole discretion, may determine, prior to or within 90 days after the date of any such termination, that all or a
portion of any of Executive's unvested shares of Executive Stock shall not be so cancelled and forfeited. 

        (c)   In
the event that Executive's employment with the Company or one of its Subsidiaries is terminated for "Cause" (as defined in the Employment Agreement) or if Executive
fails to comply with any of the covenants binding Executive in the Stockholders' Agreement, the Company may cancel any outstanding Executive Stock, whether vested or unvested. 

        (d)   In
addition to Sections 2(a)-(b) above, upon a termination without Cause (as defined in the Employment Agreement)
of Executive's employment with the Company within twelve months following a "Change in Control" of the Company (the "Termination"), the Executive Stock
shall vest as follows: (A) if the Termination occurs on or before January 2, 2009, 1/4th of the Executive Stock shall vest on the date of the Termination and (B) if the
Termination occurs after January 2, 2009, on the date of the Termination a number of shares of Executive Stock (not to exceed the number of unvested shares of Executive Stock as of immediately
prior to Termination) shall vest that is equal to the product of (x) 1/48th of the Executive Stock and (y) the number of full months passed between January 2, 2008and the
date of the Termination (for the avoidance of doubt, the vesting described in this Section 2(d) is in addition to, and not in lieu of, any
vesting described in Sections 2(a)-(b) above). For purposes of this Agreement, (x) the term "Change in
Control" means (i) the consummation of any transaction or series of transactions resulting in a Third Party (or group of affiliated third parties) owning, directly or
indirectly, securities of the Company possessing the voting power to elect a majority of the Company's board of directors (whether by merger, consolidation or sale or transfer of the Company's
securities) or (ii) the sale, transfer or other disposition of all or substantially all of the business and assets of the Company, whether by sale of assets, merger or otherwise (determined on
a consolidated basis) to a Third Party (or group of affiliated third parties), and (y) the term "Third Party" means any person or entity who or
which (i) does not own any of the Company's securities as of the date of this Agreement, (ii) is not controlling, controlled by or under common control with any person or entity that
owns any of the Company's securities as of the date of this Agreement and (iii) is not the spouse or descendent (by birth or adoption) of any person who directly or indirectly owns or controls
any of the Company's securities as of the date of this Agreement. 

        3.    Certificates.    The Company shall hold each certificate representing Executive Stock until such time as the
Executive Stock represented by such certificate is transferred, other than to a Family Transferee (as defined in the Stockholders' Agreement), in compliance with the provisions of the Stockholders'
Agreement. 

        4.    Dividends and Other Distributions.    Any holder of shares of the Executive Stock shall be entitled to receive
all dividends and other distributions paid with respect to such shares, provided that any such dividends or other distributions will be subject to the same vesting requirements as the underlying
Executive Stock and shall be paid at the time the Executive Stock becomes vested pursuant to Section 2. If any dividends or distributions are
paid in shares of common stock or any other equity interests of the Company, such shares or equity interests shall be deposited with the Company and shall be subject to the same restrictions on
transferability and forfeitability as the Executive Stock with respect to which they were paid. 

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        5.    Restructuring Event.    In the event of a stock dividend, stock split or recapitalization or a corporate
reorganization in which the Company is a surviving corporation, including without limitation a merger, consolidation, split-up or spin-off or a liquidation or distribution of
securities or assets other than cash dividends (a "Restructuring Event"), the number of shares of Executive Stock held by Executive may be adjusted by
the Board, or a duly designated committee thereof, as it reasonably determines is necessary to reflect such Restructuring Event. 

        6.    Definitions.    

        "Board" means the Company's Board of Directors. 

        "Employment Agreement" means the employment agreement, by and between Executive and the Company, dated January 2, 2008, as amended
from time to time. 

        "Registration Rights Agreement" means the Amended and Restated Registration Rights Agreement, by and among the Company, GT Solar
Holdings, LLC, and the other parties thereto, dated December 30, 2005, as amended from time to time. 

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

        "Stockholders' Agreement" means the Amended and Restated Employee Stockholders' Agreement of the Company, by and among the Company and the
stockholders of the Company, dated December 30, 2005, as amended from time to time. 

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

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

To the Company: 

GT
Solar International, Inc.

243 Daniel Webster Highway

Merrimack, New Hampshire 03054

Attention: General Counsel 

To Executive: 

Robert
Woodbury

13 Plumbley Road

Upton, MA 01568 

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

        8.    General Provisions.    

        (a)    Transfers in Violation of Agreement.    Any transfer or attempted transfer of any Executive Stock in violation
of any provision of this Agreement or the Stockholders' Agreement shall be void, and the Company shall not record such transfer on its books or treat any purported transferee of such Executive Stock
as the owner of such stock for any purpose. 

        (b)    Withholding Taxes.    The Company shall be entitled to withhold from any amounts due and payable by the Company
to Executive the amount of any federal, state, local or other tax which, in the 

4

 

opinion
of the Company, is required to be withheld in connection with the delivery or vesting of shares of Executive Stock or the receipt of dividends thereon. To the extent that the amounts available
to the Company for such withholding are insufficient, it shall be a condition to the delivery or vesting, as applicable, of such shares of Executive Stock or dividends that Executive make arrangements
satisfactory to the Company for the payment of the balance of such taxes required to be withheld. 

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

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

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

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

        (g)    Choice of Law.    All questions concerning the construction, validity, enforcement and interpretation of this
Agreement and the exhibits hereto shall be governed by, and construed in accordance with, the internal law, and not the law of conflicts, of the State of Delaware, without giving effect to any choice
of law or conflict of law rules or provisions (whether of the State of Delaware or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of
Delaware. 

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

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

        *            *            *        
    * 

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

	 
	 	 
	 	 

	 	 	GT SOLAR INTERNATIONAL, INC.
	

 	
 	

By:	
 	

/s/ Thomas M. Zarrella

	

 	
 	

Name:	
 	

Thomas M. Zarrella
	

 	
 	

Title:	
 	
President and Chief Executive Officer
	

 	
 	

/s/ Robert W. Woodbury
 Robert W. Woodbury

QuickLinks

Exhibit 10.26

GT SOLAR INTERNATIONAL, INC.

RESTRICTED STOCK AGREEMENT

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