Document:

<PAGE>   1
                                                                   EXHIBIT 10.12

                             UNICCO SERVICE COMPANY
                                    USC, INC.
                        UNICCO GOVERNMENT SERVICES, INC.
                              UNICCO FINANCE CORP.
                          UNICCO SERVICE OF M.I., INC.
                          UNICCO SERVICE OF N.J., INC.
                                FOUR COPLEY PLACE
                                BOSTON, MA 02116

                                              Dated as of: May 31, 2000
                                              Effective as of:  March 31, 2000

Fleet National Bank
Individually and as Agent
100 Federal Street
Boston, Massachusetts  02110

Citizens Bank of Massachusetts
28 State Street
Boston, Massachusetts  02109

         Re:  FOURTH AMENDMENT TO LOAN DOCUMENTS

Ladies and Gentlemen:

     We refer to the Amended and Restated Revolving Credit Agreement, dated as
of October 17, 1997 (as amended from time to time, the "Agreement"), among
Unicco Service Company, USC, Inc., Unicco Government Services, Inc., Unicco
Finance Corp., Unicco Service of M.I., Inc. and Unicco Service of N.J., Inc.
(collectively, the "Borrowers"), the banking institutions referred to therein as
Banks (the "Banks"), and Fleet National Bank, f/k/a BankBoston, N.A., as Agent
(the "Agent"). Upon the terms and subject to the conditions contained in the
Agreement, you agreed to make Revolving Loans to the Borrowers.

     Terms used in this letter of agreement (the "Fourth Amendment") which are
not defined herein, but which are defined in the Agreement, shall have the same
respective meanings herein as therein.

     We have requested that you make certain amendments to the Agreement. You
have advised us that you are prepared and would be pleased to make the
amendments so requested by us on the condition that we join with you in this
Fourth Amendment.

     Accordingly, in consideration of these premises, the promises, mutual
covenants and agreements contained in this Fourth Amendment, and fully intending
to be legally bound by this Fourth Amendment, we hereby agree with you as
follows:

<PAGE>   2

                                    ARTICLE I

                             AMENDMENTS TO AGREEMENT

     Effective as of March 31, 2000, the Agreement is amended in each of the
following respects:

     (a) The terms "Loan Documents" and "Security Documents" shall, wherever
used in any of the Loan Documents or Security Documents, be deemed to also mean
and include this Fourth Amendment.

     (b) Clause (ii)(b) of the definition of "Operating Cash Flow" is hereby
amended to read in its entirety as follows: "the aggregate amount distributed by
Unicco (including, without limitation, Tax Distribution Amounts) during such
period."

     (c) Section 6.8 is hereby amended to read in its entirety as follows:

     "6.8 FIXED CHARGE COVERAGE RATIO. The Borrower Affiliated Group shall not
     permit the Fixed Charge Coverage Ratio of the Borrower Affiliated Group as
     at the last day of any fiscal quarter, for the four consecutive fiscal
     quarters then ending, to be less than 1.25 to 1."

     (d) Clause (ii) of Section 6.10 is hereby amended to read in its entirety
as follows:

     "(ii) not sooner than 15 days after receipt by the Agent of the financial
     statements required to be delivered by Section 5.1(b) for any fiscal
     quarter, Unicco may make quarterly distributions to its shareholders, and
     its shareholders may accept distributions, PROVIDED, HOWEVER, that,
     concurrently with the declaration of and payment of any such distribution,
     the Borrowers shall furnish to the Agent (and the Agent shall in turn
     furnish to the Banks) a report in substantially the form of EXHIBIT F
     signed on behalf of each member of the Borrower Affiliated Group by its
     chief financial officer, and including, without limitation, computations in
     reasonable detail evidencing compliance (both before and after giving
     effect to the proposed distribution) with the covenants contained in
     Section 6.7, Section 6.8, Section 6.9, Section 6.10 and Section 6.17, and
     PROVIDED, FURTHER, that in the event that the audited financial statements
     required to be delivered pursuant to Section 5.1(a) reflect that the
     aggregate quarterly distributions made in the fiscal year to which such
     financial statements relate were in excess of 50% of Combined net income
     (as determined in accordance with GAAP and evidenced by such financial
     statements) of the Borrower Affiliated Group, each of the Equity Owners
     jointly and severally agree to immediately pay to the Administrative Agent,
     for the ratable benefit of the Banks, the aggregate amount of such excess
     for such fiscal year),".

                                   ARTICLE II

                         REPRESENTATIONS AND WARRANTIES

     The Borrowers hereby jointly and severally represent and warrant to you as
follows:

     (a) REPRESENTATIONS IN AGREEMENT. Each of the representations and
warranties made by the Borrowers to you in the Agreement was true, correct and
complete when made and is true, correct and complete in all material respects on
and as of the date hereof with the same full force and effect as if each of such

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representations and warranties had been made by the Borrowers on the date hereof
and in this Fourth Amendment (except to the extent such representations and
warranties expressly relate to an earlier date).

     (b) NO DEFAULTS OR EVENTS OF DEFAULT. No Default or Event of Default exists
on the date of this Fourth Amendment (both before and after giving effect to all
of the arrangements and transactions contemplated by this Fourth Amendment).

     (c) BINDING EFFECT OF DOCUMENTS. This Fourth Amendment has been duly
executed and delivered to you by the Borrowers and is in full force and effect
as of the date hereof, and the agreements and obligations of the Borrowers
contained herein constitute the joint and several, and legal, valid and binding
obligations of the Borrowers enforceable against the Borrowers in accordance
with their respective terms.

                                   ARTICLE III

                        PROVISIONS OF GENERAL APPLICATION

     (a) NO OTHER CHANGES. Except to the extent specifically amended and
supplemented hereby, all of the terms, conditions and the provisions of the
Agreement and each of the Loan Documents and Security Documents shall remain
unmodified, and the Agreement and each of the other Loan Documents and Security
Documents, as amended and supplemented by this Fourth Amendment, are confirmed
as being in full force and effect.

     (b) GOVERNING LAW. This Fourth Amendment is intended to take effect as a
sealed instrument and shall be deemed to be a contract under the laws of the
Commonwealth of Massachusetts. This Fourth Amendment and the rights and
obligations of each of the parties hereto and thereto shall be governed by and
interpreted and determined in accordance with the laws of the Commonwealth of
Massachusetts.

     (c) BINDING EFFECT; ASSIGNMENT. This Fourth Amendment shall be binding upon
and inure to the benefit of each of the parties hereto and their respective
successors in title and assigns.

     (d) COUNTERPARTS. This Fourth Amendment may be executed in any number of
counterparts, each of which when executed and delivered shall be deemed an
original, but all of which together shall constitute one instrument. In making
proof of this Fourth Amendment, it shall not be necessary to produce or account
for more than one counterpart thereof signed by each of the parties hereto.

     (e) CONFLICT WITH OTHER AGREEMENTS. If any of the terms of this Fourth
Amendment shall conflict in any respect with any of the terms of any of the
Agreement or any other Loan Document, the terms of this Fourth Amendment shall
be controlling.

     (f) CONDITIONS PRECEDENT. This Fourth Amendment shall be effective as of
March 31, 2000, but only if the form of acceptance at the end of this Fourth
Amendment shall be signed by the Agent and the Banks.

<PAGE>   4

     If you are in agreement with the foregoing, please sign the form of
acceptance on the enclosed counterpart of this Fourth Amendment and return such
counterpart to the undersigned, whereupon this Fourth Amendment, as so accepted
by you, shall become a binding agreement among you and the undersigned.

                                       Very truly yours,

                                       THE BORROWERS:

                                       UNICCO SERVICE COMPANY

                                       By: /s/ George A. Keches
                                          --------------------------------
                                           Title:

                                       USC, INC.

                                       By: /s/ George A. Keches
                                          --------------------------------
                                          Title:

                                       UNICCO GOVERNMENT SERVICES, INC.

                                       By: /s/ George A. Keches
                                          --------------------------------
                                          Title:

                                       UNICCO FINANCE CORP.

                                       By: /s/ George A. Keches
                                          --------------------------------
                                          Title:

                                       UNICCO SERVICE OF M.I., INC.

                                       By: /s/ George A. Keches
                                          ---------------------------------
                                          Title:

                                       UNICCO SERVICE OF N.J., INC.

                                       By: /s/ George A. Keches
                                          ---------------------------------
                                          Title:

                       (Signatures continued on next page)

<PAGE>   5

Each of the undersigned hereby acknowledges and agrees to the provisions of
Section 6.10 applicable to him, as amended by the foregoing Fourth Amendment,
and agrees to immediately reimburse the Company in cash for any and all amounts
received by him in contravention of such Section 6.10 (and to provide evidence
thereof to the Agent):

/s/ Steven C. Kletjian
--------------------------------------------
Steven C. Kletjian

/s/ Robert P. Kletjian
--------------------------------------------
Robert P. Kletjian

/s/ Richard J. Kletjian
--------------------------------------------
Richard J. Kletjian

/s/ George A. Keches
--------------------------------------------
George A. Keches

/s/ John C. Feitor
--------------------------------------------
John C. Feitor

     The foregoing Fourth Amendment is hereby accepted by the undersigned as of
May __, 2000.

THE BANKS:

FLEET NATIONAL BANK

By: /s/ Luanne Smith
   ---------------------------
   Title:  Vice President

                       (Signatures continued on next page)

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CITIZENS BANK OF MASSACHUSETTS

By: /s/ David Costello
   ---------------------------
   Title:

THE AGENT:

FLEET NATIONAL BANK, as Agent

By: /s/ Luanne Smith
   ---------------------------
   Title:

<PAGE>   7

                              CONSENT OF GUARANTOR

     Unicco Facility Services Canada Company (the "Guarantor") has guaranteed
the Obligations of the Borrowers under (and as defined in) the Agreement by
executing one or more Unlimited Guarantees, dated as of October 17, 1997 (the
"U-Canada Guaranty"). By executing this letter, the Guarantor hereby absolutely
and unconditionally reaffirms the U-Canada Guaranty and acknowledges and agrees
to the terms and conditions of this Fourth Amendment, and the Agreement as
amended hereby.

                                     UNICCO FACILITY SERVICES CANADA COMPANY

                                     By: /s/ George A. Keches
                                        ------------------------------------
                                        Title:<PAGE>   1
                                                                    EXHIBIT 10.2

                              EVERGREEN SOLAR, INC.

                      2000 STOCK OPTION AND INCENTIVE PLAN

1.       PURPOSE AND ELIGIBILITY

         The purpose of this 2000 Stock Option and Incentive Plan (the "Plan")
of Evergreen Solar, Inc. (the "Company") is to provide stock options and other
equity interests in the Company (each an "Award") to employees, officers,
directors, consultants and advisors of the Company and its Subsidiaries, all of
whom are eligible to receive Awards under the Plan. Any person to whom an Award
has been granted under the Plan is called a "Participant." Additional
definitions are contained in Section 8.

2.       ADMINISTRATION

         A. ADMINISTRATION BY BOARD OF DIRECTORS. The Plan will be administered
by the Board of Directors of the Company (the "Board"). The Board, in its sole
discretion, shall have the authority to grant and amend Awards, to adopt, amend
and repeal rules relating to the Plan and to interpret and correct the
provisions of the Plan and any Award. All decisions by the Board shall be final
and binding on all interested persons. Neither the Company nor any member of the
Board shall be liable for any action or determination relating to the Plan.

         B. APPOINTMENT OF COMMITTEES. To the extent permitted by applicable
law, the Board may delegate any or all of its powers under the Plan to one or
more committees or subcommittees of the Board (a "Committee"). All references in
the Plan to the "Board" shall mean such Committee or the Board.

         C. DELEGATION TO EXECUTIVE OFFICERS. To the extent permitted by
applicable law, the Board may delegate to one or more executive officers of the
Company the power to grant Awards and exercise such other powers under the Plan
as the Board may determine, provided that the Board shall fix the maximum number
of Awards to be granted and the maximum number of shares issuable to any one
Participant pursuant to Awards granted by such executive officers.

3.       STOCK AVAILABLE FOR AWARDS

         A. NUMBER OF SHARES. Subject to adjustment under Section 3(c), the
aggregate number of shares of Common Stock, $.01 par value, of the Company (the
"Common Stock") that may be issued pursuant to the Plan is one million six
hundred and sixteen thousand six hundred and twenty-eight shares (1,616,628). If
any Award expires, or is terminated, surrendered or forfeited, in whole or in
part, the unissued Common Stock covered by such Award shall again be available
for the grant of Awards under the Plan. If shares of Common Stock issued
pursuant to the Plan are repurchased by, or are surrendered or forfeited to the
Company at no more than cost,
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                                      -2-

such shares of Common Stock shall again be available for the grant of Awards
under the Plan; provided, however, that the cumulative number of such shares
that may be so reissued under the Plan will not exceed 1,616,628 shares. Shares
issued under the Plan may consist in whole or in part of authorized but unissued
shares or treasury shares.

         B. PER-PARTICIPANT LIMIT. Subject to adjustment under Section 3(c), no
Participant may be granted Awards during any one fiscal year to purchase more
than 500,000 shares of Common Stock.

         C. ADJUSTMENT TO COMMON STOCK. In the event of any stock split, stock
dividend, extraordinary cash dividend, recapitalization, reorganization, merger,
consolidation, combination, exchange of shares, liquidation, spin-off, split-up,
or other similar change in capitalization or event, (i) the number and class of
securities available for Awards under the Plan and the per-Participant share
limit, (ii) the number and class of securities, vesting schedule and exercise
price per share subject to each outstanding Option, (iii) the repurchase price
per security subject to repurchase, and (iv) the terms of each other outstanding
stock-based Award shall be adjusted by the Company (or substituted Awards may be
made) to the extent the Board shall determine, in good faith, that such an
adjustment (or substitution) is appropriate. If Section 7(e)(i) applies for any
event, this Section 3(c) shall not be applicable.

4.       STOCK OPTIONS

         A. GENERAL. The Board may grant options to purchase Common Stock (each,
an "Option" and determine the number of shares of Common Stock to be covered by
each Option, the exercise price of each Option and the conditions and
limitations applicable to the exercise of each Option and the Common Stock
issued upon the exercise of each Option, including vesting provisions,
repurchase provisions and restrictions relating to applicable federal or state
securities laws, as it considers advisable.

         B. INCENTIVE STOCK OPTIONS. An Option that the Board intends to be an
"incentive stock option" as defined in Section 422 of the Code (an "Incentive
Stock Option") shall be granted only to employees of the Company and shall be
subject to and shall be construed consistently with the requirements of Section
422 of the Code. The Board and the Company shall have no liability if an Option
or any part thereof that is intended to be an Incentive Stock Option does not
qualify as such. An Option or any part thereof that does not qualify as an
Incentive Stock Option is referred to herein as a "Nonstatutory Stock Option".

         C. EXERCISE PRICE. The Board shall establish the exercise price (or
determine the method by which the exercise price shall be determined) at the
time each Option is granted and specify it in the applicable option agreement.

         D. DURATION OF OPTIONS. Each Option shall be exercisable at such times
and subject to such terms and conditions as the Board may specify in the
applicable option agreement.
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                                      -3-

         E. EXERCISE OF OPTION. Options may be exercised only by delivery to the
Company of a written notice of exercise signed by the proper person together
with payment in full as specified in Section 4(f) for the number of shares for
which the Option is exercised.

         F. PAYMENT UPON EXERCISE. Common Stock purchased upon the exercise of
an Option shall be paid for by one or any combination of the following forms of
payment:

                  (i)      by check payable to the order of the Company;

                  (ii) except as otherwise explicitly provided in the applicable
option agreement, and only if the Common Stock is then publicly traded, delivery
of an irrevocable and unconditional undertaking by a creditworthy broker to
deliver promptly to the Company sufficient funds to pay the exercise price, or
delivery by the Participant to the Company of a copy of irrevocable and
unconditional instructions to a creditworthy broker to deliver promptly to the
Company cash or a check sufficient to pay the exercise price; or

                  (iii) to the extent explicitly provided in the applicable
option agreement, by (x) delivery of shares of Common Stock owned by the
Participant valued at fair market value (as determined by the Board or as
determined pursuant to the applicable option agreement), (y) delivery of a
promissory note of the Participant to the Company (and delivery to the Company
by the Participant of a check in an amount equal to the par value of the shares
purchased), or (z) payment of such other lawful consideration as the Board may
determine.

5.       RESTRICTED STOCK

         A. GRANTS. The Board may grant Awards entitling recipients to acquire
shares of Common Stock, subject to (i) delivery to the Company by the
Participant of a check in an amount at least equal to the par value of the
shares purchased, and (ii) the right of the Company to repurchase all or part of
such shares at their issue price or other stated or formula price from the
Participant in the event that conditions specified by the Board in the
applicable Award are not satisfied prior to the end of the applicable
restriction period or periods established by the Board for such Award (each, a
"Restricted Stock Award").

         B. TERMS AND CONDITIONS. The Board shall determine the terms and
conditions of any such Restricted Stock Award. Any stock certificates issued in
respect of a Restricted Stock Award shall be registered in the name of the
Participant and, unless otherwise determined by the Board, deposited by the
Participant, together with a stock power endorsed in blank, with the Company (or
its designee). After the expiration of the applicable restriction periods, the
Company (or such designee) shall deliver the certificates no longer subject to
such restrictions to the Participant or, if the Participant has died, to the
beneficiary designated by a Participant, in a manner determined by the Board, to
receive amounts due or exercise rights of the Participant in the event of the
Participant's death (the "Designated Beneficiary"). In the absence of an
effective designation by a Participant, Designated Beneficiary shall mean the
Participant's estate.
<PAGE>   4
                                      -4-

6.       OTHER STOCK-BASED AWARDS

         The Board shall have the right to grant other Awards based upon the
Common Stock having such terms and conditions as the Board may determine,
including, without limitation, the grant of shares based upon certain
conditions, the grant of securities convertible into Common Stock and the grant
of stock appreciation rights, phantom stock awards or stock units.

7.       GENERAL PROVISIONS APPLICABLE TO AWARDS

         A. TRANSFERABILITY OF AWARDS. Except as the Board may otherwise
determine or provide in an Award, Awards shall not be sold, assigned,
transferred, pledged or otherwise encumbered by the person to whom they are
granted, either voluntarily or by operation of law, except by will or the laws
of descent and distribution, and, during the life of the Participant, shall be
exercisable only by the Participant. References to a Participant, to the extent
relevant in the context, shall include references to authorized transferees.

         B. DOCUMENTATION. Each Award under the Plan shall be evidenced by a
written instrument in such form as the Board shall determine or as executed by
an officer of the Company pursuant to authority delegated by the Board. Each
Award may contain terms and conditions in addition to those set forth in the
Plan provided that such terms and conditions do not contravene the provisions of
the Plan.

         C. BOARD DISCRETION. The terms of each type of Award need not be
identical, and the Board need not treat Participants uniformly.

         D. TERMINATION OF STATUS. The Board shall determine the effect on an
Award of the disability, death, retirement, authorized leave of absence or other
change in the employment or other status of a Participant and the extent to
which, and the period during which, the Participant, or the Participant's legal
representative, conservator, guardian or Designated Beneficiary, may exercise
rights under the Award.

         E. ACQUISITION OF THE COMPANY

                  (I) CONSEQUENCES OF AN ACQUISITION.

                           (A) ACQUISITION INTENDED TO BE ACCOUNTED FOR AS A
POOLING-OF-INTERESTS. Upon the consummation of an Acquisition intended to be
accounted for as a pooling of interests: (x) all outstanding Awards shall remain
the obligation of the Company or be assumed by the surviving or acquiring
entity, and there shall be automatically substituted for the shares of Common
Stock then subject to such Awards the consideration payable with respect to the
outstanding shares of Common Stock in connection with the Acquisition and (y)
each outstanding Award shall vest as if the vesting start date with respect to
such Award was one year prior to the vesting start date set forth in the
agreement relating to such Award. In addition to the foregoing, with respect to
Awards granted prior to the consummation of the Acquisition, if, after the
consummation of the Acquisition and prior to the first anniversary thereof, the
Participant's
<PAGE>   5
                                      -5-

employment is terminated by the Company or the surviving or acquiring entity
other than for "cause" (as defined in the applicable option agreement), or if
the Participant terminates his or her own employment with the Company for "good
reason" (as defined below), in either case, then, effective on and as of the
date of such termination: (1) all Options held by such Participant then
outstanding shall become immediately exercisable in full and will terminate, to
the extent unexercised, on their scheduled expiration date, and if the shares of
Common Stock subject to such Options are subject to repurchase provisions then
such repurchase restrictions shall immediately lapse; (2) all Restricted Stock
Awards held by such Participant then outstanding shall become free of all
repurchase provisions; and (3) all other stock-based Awards held by such
Participant shall become exercisable, realized or vested in full, or shall be
free of all repurchase provisions, as the case may be.

                           For purposes of this Agreement, termination by the
Participant for "good reason" occurs if the Participant terminates his or her
own employment as a result of the occurrence of one or more of the following
events without the Participant's prior consent:

                           (x) a material reduction in the nature or scope of
the authorities, powers, functions, responsibilities or duties of the
Participant which is not remedied within 15 calendar days after receipt by the
Company of notice of such material reduction, provided, without limitation, that
such reduction is not the result of conduct by the Participant substantially
amounting to "cause" (as defined in the applicable option agreement); or

                           (y) a material reduction in the Participant's
benefits under the employee benefit plans to which he or she is entitled as an
employee of the Company on the Participant's date of hire which is not remedied
within 15 calendar days after receipt by the Company of notice of such material
reduction, unless there is a corresponding reduction uniformly among all Company
employees entitled to such benefits.

                           (B) Acquisition Intended to be Accounted for under
the Purchase Method. Unless otherwise expressly provided in the applicable
Option or Award, upon the occurrence of an Acquisition intended to be accounted
for under the purchase method, the Board or the board of directors of the
surviving or acquiring entity (as used in this Section 7(e)(i), also the
"Board"), shall, as to outstanding Awards (on the same basis or on different
bases, as the Board shall specify), make appropriate provision for the
continuation of such Awards by the Company or the assumption of such Awards by
the surviving or acquiring entity and by substituting on an equitable basis for
the shares then subject to such Awards either (a) the consideration payable with
respect to the outstanding shares of Common Stock in connection with the
Acquisition, (b) shares of stock of the surviving or acquiring corporation or
(c) such other securities as the Board deems appropriate, the fair market value
of which (as determined by the Board in its sole discretion) shall not
materially differ from the fair market value of the shares of Common Stock
subject to such Awards immediately preceding the Acquisition. In addition to or
in lieu of the foregoing, with respect to outstanding Options, the Board may,
upon written notice to the affected optionees, provide that one or more Options
then outstanding shall become immediately exercisable in full or in part and
that such Options must be exercised within a specified number of days of the
date of such notice, at the end of which period such Options shall
<PAGE>   6
                                      -6-

terminate; or provide that one or more Options then outstanding shall become
immediately exercisable in full or in part and shall be terminated in exchange
for a cash payment equal to the excess of the fair market value (as determined
by the Board in its sole discretion) for the shares subject to such Options over
the exercise price thereof.

                  (II) ACQUISITION DEFINED. An "Acquisition" shall mean: (x) any
merger or consolidation after which the voting securities of the Company
outstanding immediately prior thereto represent (either by remaining outstanding
or by being converted into voting securities of the surviving or acquiring
entity) less than 50% of the combined voting power of the voting securities of
the Company or such surviving or acquiring entity outstanding immediately after
such event; or (y) any sale of all or substantially all of the assets or capital
stock of the Company (other than in a spin-off or similar transaction) or (z)
any other acquisition of the business of the Company, as determined by the
Board.

                  (III) ASSUMPTION OF OPTIONS UPON CERTAIN EVENTS. In connection
with a merger or consolidation of an entity with the Company or the acquisition
by the Company of property or stock of an entity, the Board may grant Awards
under the Plan in substitution for stock and stock-based awards issued by such
entity or an affiliate thereof. The substitute Awards shall be granted on such
terms and conditions, as the Board considers appropriate in the circumstances.

                  (IV) POOLING-OF INTERESTS-ACCOUNTING. If the Company proposes
to engage in an Acquisition intended to be accounted for as a
pooling-of-interests, and in the event that the provisions of this Plan or of
any Award hereunder, or any actions of the Board taken in connection with such
Acquisition, are determined by the Company's or the acquiring company's
independent public accountants to cause such Acquisition to fail to be accounted
for as a pooling-of-interests, then such provisions or actions shall be amended
or rescinded by the Board, without the consent of any Participant, to be
consistent with pooling-of-interests accounting treatment for such Acquisition.

                  (V) PARACHUTE AWARDS. Notwithstanding the provisions of
Section 7(e)(i)(A), if, in connection with an Acquisition, a tax under Section
4999 of the Code would be imposed on the Participant (after taking into account
the exceptions set forth in Sections 280G(b)(4) and 280G(b)(5) of the Code),
then the number of Awards which shall become exercisable, realizable or vested
as provided in such section shall be reduced (or delayed), to the minimum extent
necessary, so that no such tax would be imposed on the Participant (the Awards
not becoming so accelerated, realizable or vested, the "Parachute Awards");
provided, however, that if the "aggregate present value" of the Parachute Awards
would exceed the tax that, but for this sentence, would be imposed on the
Participant under Section 4999 of the Code in connection with the Acquisition,
then the Awards shall become immediately exercisable, realizable and vested
without regard to the provisions of this sentence. For purposes of the preceding
sentence, the "aggregate present value" of an Award shall be calculated on an
after-tax basis (other than taxes imposed by Section 4999 of the Code) and shall
be based on economic principles rather than the principles set forth under
Section 280G of the
<PAGE>   7
                                      -7-

Code and the regulations promulgated thereunder. All determinations required to
be made under this Section 7(e)(v) shall be made by the Company.

         F. WITHHOLDING. Each Participant shall pay to the Company, or make
provisions satisfactory to the Company for payment of, any taxes required by law
to be withheld in connection with Awards to such Participant no later than the
date of the event creating the tax liability. The Board may allow Participants
to satisfy such tax obligations in whole or in part by transferring shares of
Common Stock, including shares retained from the Award creating the tax
obligation, valued at their fair market value (as determined by the Board or as
determined pursuant to the applicable option agreement). The Company may, to the
extent permitted by law, deduct any such tax obligations from any payment of any
kind otherwise due to a Participant.

         G. AMENDMENT OF AWARDS. The Board may amend, modify or terminate any
outstanding Award including, but not limited to, substituting therefor another
Award of the same or a different type, changing the date of exercise or
realization, and converting an Incentive Stock Option to a Nonstatutory Stock
Option, provided that, except as otherwise provided in Section 7(e)(iv), the
Participant's consent to such action shall be required unless the Board
determines that the action, taking into account any related action, would not
materially and adversely affect the Participant.

         H. CONDITIONS ON DELIVERY OF STOCK. The Company will not be obligated
to deliver any shares of Common Stock pursuant to the Plan or to remove
restrictions from shares previously delivered under the Plan until (i) all
conditions of the Award have been met or removed to the satisfaction of the
Company, (ii) in the opinion of the Company's counsel, all other legal matters
in connection with the issuance and delivery of such shares have been satisfied,
including any applicable securities laws and any applicable stock exchange or
stock market rules and regulations, and (iii) the Participant has executed and
delivered to the Company such representations or agreements as the Company may
consider appropriate to satisfy the requirements of any applicable laws, rules
or regulations.

         I. ACCELERATION. The Board may at any time provide that any Options
shall become immediately exercisable in full or in part, that any Restricted
Stock Awards shall be free of some or all restrictions, or that any other
stock-based Awards may become exercisable in full or in part or free of some or
all restrictions or conditions, or otherwise realizable in full or in part, as
the case may be, despite the fact that the foregoing actions may (i) cause the
application of Sections 280G and 4999 of the Code if a change in control of the
Company occurs, or (ii) disqualify all or part of the Option as an Incentive
Stock Option.

8.       MISCELLANEOUS

         A.  DEFINITIONS.

                  (I) "COMPANY" for purposes of eligibility under the Plan,
shall include any present or future subsidiary corporations of Evergreen Solar,
Inc., as defined in Section 424(f) of the Code (a "Subsidiary"), and any present
or future parent corporation of Evergreen Solar, Inc.,
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                                      -8-

as defined in Section 424(e) of the Code. For purposes of Awards other than
Incentive Stock Options, the term "Company" shall include any other business
venture in which the Company has a direct or indirect significant interest, as
determined by the Board in its sole discretion.

                  (II) "CODE" means the Internal Revenue Code of 1986, as
amended, and any regulations promulgated thereunder.

                  (III) "EMPLOYEE" for purposes of eligibility under the Plan
shall include a person to whom an offer of employment has been extended by the
Company.

         B. NO RIGHT TO EMPLOYMENT OR OTHER STATUS. No person shall have any
claim or right to be granted an Award, and the grant of an Award shall not be
construed as giving a Participant the right to continued employment or any other
relationship with the Company. The Company expressly reserves the right at any
time to dismiss or otherwise terminate its relationship with a Participant free
from any liability or claim under the Plan.

         C. NO RIGHTS AS STOCKHOLDER. Subject to the provisions of the
applicable Award, no Participant or Designated Beneficiary shall have any rights
as a stockholder with respect to any shares of Common Stock to be distributed
with respect to an Award until becoming the record holder thereof.

         D. EFFECTIVE DATE AND TERM OF PLAN. The Plan shall become effective
upon adoption by the Board. No Awards shall be granted under the Plan after the
completion of ten years from the date on which the Plan was adopted by the
Board, but Awards previously granted may extend beyond that date.

         E. AMENDMENT OF PLAN. The Board may amend, suspend or terminate the
Plan or any portion thereof at any time.

         F. GOVERNING LAW. The provisions of the Plan and all Awards made
hereunder shall be governed by and interpreted in accordance with the laws of
Delaware, without regard to any applicable conflicts of law.

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