Document:

Exhibit 10.4

 

SYSTEM LICENSE AGREEMENT

 

This
Agreement is made on the 30th day of March , 1982 between the
Massachusetts Institute of Technology, a Massachusetts corporation (“M.I.T.”),
77 Massachusetts Avenue, Cambridge, Massachusetts 02139, and Aspen Technology, Inc.,
a Massachusetts corporation, (“LICENSEE”), 251 Vassar Street, Cambridge,
Massachusetts 02139.

 

WHEREAS,
M.I.T. is the owner, subject to a royalty-free, non-exclusive license
heretofore granted to the United States Government, of copyrights in the
writings of authors and works of authorship in the nature of computer media and
documentation that relate to a set of computer programs known as ASPEN (the “System”);
and

 

WHEREAS,
M.I.T. is the owner of certain rights to technical data developed under the
Aspen Project and has the right to grant licenses under said rights to
technical data, subject only to a royalty-free, non-exclusive license
heretofore granted to the United States Government; and

 

WHEREAS,
M.I.T. desires to have the benefits of the technology comprised in the System
made available as rapidly and widely as possible to the public; and

 

WHEREAS,
achievement of such public utilization requires the provision of certain
services, such as installation of the System for new users and maintenance,
support and enhancement of the System for all users; and

 

WHEREAS,
wide public utilization of the System will                                                       
the making of                                 
in and enhancements to the System, which will be beneficial to the users; and

 

WHEREAS,
M.I.T. is not presently able to provide such services within its normal
academic and research activities, however, LICENSEE is willing, on the terms
and subject to the conditions set forth below, to take responsibility for
providing the public with installation service, maintenance and enhancement
support for the System; and

 

WHEREAS,
M.I.T. desires access to the System as enhanced and supported by LICENSEE;

 

NOW,
THEREFORE, the parties agree as follows:

 

§1.                                DEFINITIONS

 

§1.1.                       “Licensed
Materials” shall mean the various writings of authors, works of authorship and
technical data relating to the System, including but not limited to
documentation, narrative descriptions, manuals, computer media, magnetic tapes,
discs, punched cards, paper tapes and listing printouts (including microfiche)
of the information contained on such computer media and including both source
and object codes.

 

§1.2.                       “Enhancements”
shall mean any technical data, ideas, innovations, improvements, changes and
adaptations made or developed by LICENSEE using Licensed Materials, whether

 

 

such
Enhancements are in human or machine readable form and whether or not
patentable or copyrightable.

 

§1.3.                       ‘‘Derivative
Works” shall mean all works of authorship, whether in human or machine readable
form based upon Licensed Materials, revised, annotated, elaborated or otherwise
modified by LICENSEE so as to incorporate one or more Enhancements.

 

§2.                                FURNISHING OF
MATERIALS

 

Promptly
after the date of this Agreement, M.I.T. will furnish LICENSEE with, or enable
LICENSEE to create, one (1) copy of each item of the Licensed Materials
which is in M.I.T.’s possession and is then current.

 

§3.                                LICENSE GRANT

 

§3.1.                       M.I.T. hereby
grants LICENSEE a non-exclusive, non-transferable (except as provided herein),
perpetual, worldwide license (the “License”), on the terms and subject to the
conditions set forth in this Agreement, to:

 

(a)                                  make copies of Licensed
Materials;

 

(b)                                 make Enhancements and
Derivative Works;

 

(c)                                  permit (whether by
sublicense or otherwise) other persons to use Licensed Materials and copies
thereof; and

 

(d)                                 use Licensed Materials in
any manner in its business (including, without limitation, use as a commercial
service bureau or job-shop).

 

§3.2.                       Except as
limited by this Agreement, LICENSEE may in its sole discretion, establish fees
(if any) and all other terms and conditions for sublicenses and other
arrangements pursuant to which it permits use of Licensed Materials and copies
thereof.

 

§3.3.                       M.I.T. agrees
that so long as this Agreement is in effect and provided that LICENSEE has not
received a notice under §7.1 prohibiting further use of Licensed Materials,
M.I.T. will not permit any other party to use or to have a license agreement
with respect to any Licensed Materials, which agreement contains any provision
which is more favorable to such other party than this Agreement is to
LICENSEE.  In the event that M.I.T.
grants any such provision to any such other party, this Agreement shall be
automatically modified thereby to afford LICENSEE such provision.  Upon written request by LICENSEE, M.I.T.
shall provide to LICENSEE’S counsel access at M.I.T. to all license agreements
with respect to Licensed Materials.

 

§4.                                PROPRIETARY
RIGHTS IN LICENSED MATERIALS, ENHANCEMENTS AND DERIVATIVE WORKS

 

§4.1.                       M.I.T.
represents that it has not granted any license of the Licensed Materials except
to the U.S. Government and to the participants in the program of industrial
testing under 

 

2

 

the
Aspen project.  LICENSEE acknowledges
that M.I.T. shall continue to own the right, title and interest (including
copyrights) in the Licensed Materials notwithstanding the License granted under
this Agreement, and LICENSEE agrees to comply with all laws applicable to its
use of the Licensed Materials.

 

§4.2.                       M.I.T. shall be
responsible for establishing and maintaining its proprietary rights in the
Licensed Materials, at its own expense, including, without limitation,
complying with formalities with respect to the deposit of copies and
registration.  M.I.T. shall give LICENSEE
prompt notice (a) of any claim that the Licensed Materials or any part
thereof infringes the proprietary rights of another person, and (b) of any
potential infringement by another person of M.I.T.’s proprietary rights in the
Licensed Materials.  In either case,
M.I.T. may, at its discretion, take such action as it deems necessary or
desirable to protect its proprietary rights, and hereby grants to LICENSEE, acting
in its own behalf and on behalf of M.I.T., the authority to assume the defense
of such rights or to enforce such rights against a third person in any case in
which M.I.T. declines or fails to actively protect its proprietary rights.  M.I.T. represents that, to the best of its
knowledge and belief, the Licensed Materials in existence as of the date of
this Agreement do not infringe the proprietary rights of any third party.

 

§4.3.                       In the event
M.I.T. declines to enforce its rights against a purported substantial
infringer, or there is a final adjudication of the rights of such purported
infringer, and in either of such cases such purported infringer is allowed to
utilize any of the rights granted to LICENSEE hereunder under an arrangement
which includes any provision which is more favorable to the purported infringer
than this Agreement is to LICENSEE, then this Agreement shall automatically be
modified thereby to afford to LICENSEE such provision.

 

§4.4.                       M.I.T. shall,
from time to time, prescribe to LICENSEE the form and location of the copyright
notice to be included on any licensed materials.  LICENSEE shall include copyright notices as
so prescribed by M.I.T. on ail such copies made or created by LICENSEE and will
impose the obligation to do so on all or persons licensed or otherwise
permitted by LICENSEE to make copies thereof. 
M.I.T. agrees that LICENSEE shall have all proprietary rights, whether
in the nature of trade secrets, copyrights, patents or otherwise in all
Enhancements and Derivative Works. 
M.I.T. does not and will not claim any proprietary rights therein.

 

§5.                                LICENSE FEE

 

In
consideration of the License granted to LICENSEE under §3 hereof, LICENSEE
shall pay to M.I.T. a license fee of $10,000. 
$5,000 of which shall be paid upon signature of this Agreement and
$5,000 of which shall be paid on or before October 1, 1982.

 

§6.                                LIMITATIONS OF
LIABILITY

 

§6.1.                       EXCEPT AS
PROVIDED IN §§4.1 and 4.2, NEITHER PARTY MAKES TO THE OTHER, AND NEITHER PARTY
RECEIVES FROM THE OTHER, ANY WARRANTY OR REPRESENTATION WHATSOEVER, EXPRESS OR
IMPLIED, WITH RESPECT TO ANY LICENSED MATERIALS, PARTICULARLY NO WARRANTY OF
MERCHANTABILITY OR FITNESS FOR A PARTICULAR USE OR PURPOSE.

 

3

 

§6.2.                       Except with
respect to any breach by M.I.T. of its representations set forth in §§4.1 and
4.2, neither party shall be liable to the other for any indirect, special, or
consequential damages, such as lost profits, regardless of the cause of action,
or for any loss, cost or expense incurred by the other arising from, or related
to, any claim or demand on the other by any third party.

 

§6.3.                       LICENSEE shall
hold M.I.T. harmless from all loss, claims, demands or other liability arising
from or based on:

 

(a)                                  use of the System by any
third party claiming through LICENSEE, or

 

(b)                                 LICENSEE’S use of the System
or other performance of LICENSEE under this agreement.

 

§7.                                TERMINATION AND
REMEDIES

 

§7.1.                       If any of the
following events shall occur:

 

(a)                                  LICENSEE breaches any of its
obligations under this Agreement and fails to cure the breach within ninety
(90) days after the receipt of written notice from M.I.T. specifying the nature
of the claimed breach;

 

(b)                                 LICENSEE ceases to carry oil
its business;

 

(c)                                  A receiver or similar
officer is appointed for LICENSEE and is not discharged within ninety (90)
calendar days;

 

(d)                                 LICENSEE makes an assignment
for the benefit of, or a composition with, its creditors, or another
arrangement of similar import, and such assignment, composition, or other
arrangement is not voided, discontinued, or terminated within ninety (90)
calendar days; or

 

(e)                                  Proceedings under any
bankruptcy or insolvency law are commenced by LICENSEE, or are commenced
against it, and are not discontinued within ninety (90) calendar days;

 

then,
in addition to pursuing any other remedies to which it may be entitled, M.I.T.
may, by giving written notice to LICENSEE, terminate the License.  It is agreed that such termination shall not (i) abridge
or diminish in any way the rights of LICENSEE’S customers to the use and
enjoyment of the System and/or Enhancements in accordance with any sublicense
granted prior to such termination, or (ii) impair LICENSEE’S proprietary
rights in any Enhancements and Derivative Works developed prior to the date of
the granting of such remedy or the date of such notice of termination.

 

§7.2.                       If any of the
following events shall occur:

 

(a)                                  A third party asserts a
claim that any Licensed Materials, or the use thereof infringes its proprietary
rights;

 

4

 

(b)                                 M.I.T. breaches any of its
obligations under this Agreement and fails to cure the breach within ninety
(90) days after the receipt of written notice from LICENSEE specifying the
nature of the claimed breach;

 

(c)                                  Any representation made by
M.I.T.  herein shall prove to have been
known to be false or materially misleading as of the date made; or

 

(d)                                 The U.S. Government places a
substantial portion of the Licensed Materials in the public domain or proposes
to make a substantial portion of the Licensed Materials available under
license;

 

then,
in addition to pursuing any other remedies to which it may be entitled,
LICENSEE may, by giving written notice to M.I.T., terminate this Agreement.

 

§7.3.                       No failure or
delay by either party in the enforcement of its rights hereunder shall be
deemed to be a waiver thereof, and all remedies to which either party may be
entitled hereunder or in law or equity shall be cumulative.

 

§7.4.                       LICENSEE hereby
transfers to M.I.T. all rights it may have, after the date on which LICENSEE
ceases to carry on its business, under all sublicenses with its customers other
than the right to receive payment of money for products or services furnished
prior to the date on which LICENSEE ceases to carry on its business.

 

§8.                                STATUS OF
LICENSEE; NON-USE OF NAMES

 

§8.1.                       In rendering
performance under this Agreement, LICENSEE shall be an independent contractor
and not an agent, partner, employee, or joint venturer of M.I.T. LICENSEE may
subcontract work to M.I.T., accept contracts from M.I.T., and receive
consulting and other services from employees of M.I.T.

 

§8.2.                       LICENSEE shall
not use the name of M.I.T. or any adaptation thereof in any advertising,
promotional, or sales literature without the written consent of the M.I.T.
Patent, Copyright and Licensing Office having been obtained in each case at
least seven (7) days prior to such use, except that LICENSEE may indicate
that it is licensed by M.I.T. to use Licensed Materials pursuant to this
Agreement and LICENSEE may refer to M.I.T. in its promotional materials or
otherwise for the purpose of describing the project under which the System and
the Licensed Materials were developed.

 

§8.3.                       LICENSEE shall
not use any corporate or business name, or conduct its business in any manner,
which M.I.T. reasonably believes is likely to suggest that LICENSEE is
organizationally related to M.I.T. 
However, the use by LICENSEE of the name “ASPEN” and/or the use of the
aspen-leaf logo as used by the ASPEN Project at M.I.T. shall not be deemed to
be a violation of this Paragraph.

 

5

 

§9.                                EXPORT CONTROL

 

§9.1.                       LICENSEE is
solely responsible for securing any licenses required for the exportation by
LICENSEE from the United States of Licensed Materials.  M.I.T. agrees to cooperate in obtaining such
licenses at its own expense.

 

§9.2.                       LICENSEE hereby
gives its assurance to M.I.T. that LICENSEE will not knowingly and willfully,
unless prior authorization is obtained from the United states Office of Export
Control, export directly or indirectly any Licensed Materials to any country
restricted by such Office.

 

§9.3.                       M.I.T. neither
represents that such licenses are not required nor that, if required, they will
be issued by the United States Government.

 

§10.                          ASSIGNMENT

 

LICENSEE
may not assign or otherwise transfer this Agreement without the written
permission of M.I.T., which permission shall not be unreasonably withheld.  Notwithstanding the foregoing, it is agreed
that LICENSEE may transfer this Agreement in the event of a sale of
substantially all of the assets of or merger of LICENSEE, and it is further
agreed that LICENSEE shall not be required to obtain the permmission of M.I.T.
to effect a change in control of LICENSEE, whether upon the influx of equity or
debt capital, whether private or public, or otherwise.  Upon such assignment or transfer, the term
LICENSEE as used herein shall include such assignee or transferee.

 

§11.                          PAYMENTS AND
NOTICES

 

All
payments, notices, or other communications given under this Agreement shall be
sufficient only if in writing addressed to the respective party as set forth
below, or at such other address as is designated by a notice.

 

In the case of M.I.T.:

 

Patent,
Copyright & Licensing Office

Room E19-722

Massachusetts Institute of Technology

Cambridge, MA  02139

 

In the case of LICENSEE:

 

Aspen
Technology, Inc.

251 Vassar Street

Cambridge, MA  02139

ATTN:  Lawrence B. Evans, President

 

All
payments, notices and other communications shall be deemed given on the date
received.

 

6

 

§12.                          MISCELLANEOUS

 

§12.1.                 This Agreement is governed
by, subject to, and to be construed according to the laws of the Commonwealth
of Massachusetts.

 

§12.2.                 This Agreement is the statement
of the complete agreement of the parties respecting its subject matter as of
the date hereof.  No alterations of the
provisions hereof shall be binding on either party unless set forth in a
writing signed by both parties.

 

§12.3.                 No waiver by either party of
any rights under this Agreement shall be valid unless set forth in a writing
signed by the party against which enforcement is sought.  The failure of either party to insist upon
strict performance of any provision of this Agreement shall not be construed as
a waiver.

 

§12.4.                 The provisions of this
Agreement are severable and in the event that any provisions of this Agreement
are determined to be invalid or unenforceable under any controlling body of
laws, such invalidity or unenforceability shall not in any way affect the
validity or enforceability of the remaining provisions.

 

§12.5.                 This Agreement may be
executed in two or more identical counterparts, each of which, when duly
executed and delivered shall be an original, but all of which shall constitute
a single instrument.  In making proof of
this Agreement, it shall not be necessary to produce or account for more than
one such counterpart.

 

IN
WITNESS WHEREOF, the parties have caused this Agreement to be duly executed as
an instrument under seal as of the day and year first written above.

 

	
  ASPEN
  TECHNOLOGY, INC.

  	
  MASSACHUSETTS INSTITUTE OF
  TECHNOLOGY

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
      /s/
  Lawrence Evans

  	
   

  	
  By:

  	
      /s/
  George ???

  
	
   

  	
   

  
	
  Title:

  	
  President

  	
   

  	
  Title:

  	
  Director,
  Office of Sponsored Programs

  
							

 

7Exhibit 10.5

 

Amendment to

System License Agreement

 

The
System License Agreement dated March 30, 1982 between the Massachusetts
Institute or Technology (“M.I.T.”) and Aspen Technology, Inc. (“AspenTech”)
is hereby amended, effective as of March 30, 1982, as follows.

 

1.                                       Premises.                                              The last
premise is deleted.

 

2.                                       Section 3.3.                                   Section 3.3
is .amended to read in its entirety as follows:

 

3.3                                 M.I.T. agrees
that so long as this Agreement is in effect and provided that LICENSEE has not
received a notice under 7.1 prohibiting further use of Licensed Materials,
M.I.T. will not permit any other party to use or to have a license agreement
with respect to any Licensed Materials, which agreement contains any provision
which is more favorable to such other party than this Agreement is to LICENSEE
except with regard to licenses which may be granted to members of the
Industrial Testing Program under the Aspen Project.  In the event that M.I.T. grants any such
provision to any such other party, other than to members of the Industrial
Testing Program, this agreement shall be automatically modified thereby to
afford LICENSEE such provision.  Upon
written request by LICENSEE, M.I.T. shall provide to LICENSEE’S counsel access
at M.I.T. to all license agreements with respect to Licensed Materials.

 

3.                                       Section 4.1                                      Section 4.1
is amended to read in its entirety as follows:

 

4.1.                              M.I.T.
represents that it has not, at this time, granted any license of the Licensed
Materials except to the U.S. Government and to the participants in the Program
of Industrial Testing under the Aspen project. 
However, M.I.T. reserves the right to issue such future licenses as it,
in its sole discretion, deems advisable. 
LICENSEE acknowledges that M.I.T. shall continue to own the right, title
and interest (including copyrights) in the Licensed Materials notwithstanding
the License granted under this Agreement, and LICENSEE agrees to comply with
all laws applicable to its use of the Licensed Materials.

 

4.                                       Section 5.  Section 5 is amended to read in its entirety
as follows:

 

5.                                       LICENSEE FEE

 

In consideration of the License granted to LICENSEE
under §3 hereof, LICENSEE shall pay to M.I.T. a license fee of
Thirty Thousand Dollars ($30,000) which shall be payable as follows:

 

(a)                                  Upon execution of this
Agreement, the sum of Five Thousand Dollars ($5,000);

 

(b)                                 On or before October 1,
1982 the sum of Five Thousand Dollars ($5,000);

 

 

(c)                                  On or before April 1,
1983, the sum of Five Thousand Dollars ($5,000);

 

(d)                                 On or before October 1,
1983, the sum of Five Thousand Dollars ($5,000);

 

(e)                                  On or before April 1,
1984, the sum of Five Thousand Dollars ($5,000);

 

(f)                                    On or before October 1,
1984, the sum of Five Thousand Dollars ($5,000).

 

5.                                       Section 7.2(d).  Section 7.2(d) is amended  to read in its entirety as follows:

 

(d)                                 The U.S. Government places a
substantial portion of the Licensed Materials in the public domain or proposes
to make a substantial portion of the Licensed Materials available under
licenses which grant rights equivalent to the total rights granted hereunder;

 

Except
as specifically amended hereby, the Agreement shall remain unchanged and is
hereby confirmed as being in full force and affect.

 

This
amendment may be executed in two or more identical counterparts, each of which,
when duly executed and delivered shall be an original, but all of which shall
constitute a single instrument.  In
making proof of this amendment, it shall not be necessary to produce or account
for more  than one such counterpart.

 

	
  ASPEN
  TECHNOLOGY, INC.

  	
  MASSACHUSETTS INSTITUTE OF
  TECHNOLOGY

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
      /s/
  Lawrence Evans

  	
   

  	
  By:

  	
  /s/ George ???

  
	
   

  	
   

  
	
  Title:

  	
  President

  	
   

  	
  Title:

  	
    Director,
  Office of Sponsored Programs

  
	
   

  	
   

  
	
  Date:

  	
  September 13, 1982

  	
   

  	
  Date:

  	
  9/29/82

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