Document:

FORM OF EXECUTIVE AGREEMENT

 Exhibit 10.2 
 EXECUTIVE AGREEMENT 
 This Agreement dated as of August 29, 2006 (the “Effective
Date”) is by and between Parametric Technology Corporation, a Massachusetts corporation (the “Company”), and [executive], [executive’s home address] (the “Executive”). 
 WHEREAS, the Executive is the [title] of the Company; and 
 WHEREAS, to provide an incentive for the Executive to remain with the Company and as consideration for the Executive’s execution of the Non-Disclosure, Non-Competition and Invention Agreement dated as of the date
hereof with the Company, the Company desires to make the following arrangements with the Executive concerning certain payments and benefits to be provided to the Executive if his employment with the Company is terminated without Cause or if certain
other events specified herein occur; 
 NOW, THEREFORE, the Company and the Executive hereby agree as follows: 
 1. Definitions. 
 (a) “Cause” means

 (i) the Executive’s willful and continued failure to substantially perform his duties to the Company (other than any such failure
resulting from the Employee’s incapacity due to physical or mental illness), provided that the Company has delivered a written demand for performance to the Executive specifically identifying the manner in which the Company believes that the
Executive has not substantially performed his duties and the Executive does not cure such failure within 30 days after such demand; 
 (ii)
willful conduct by the Executive which is demonstrably and materially injurious to the Company; 
 (iii) the Executive’s conviction of,
or pleading of guilty or nolo contendere to, a felony; 
 (iv) the Executive’s entry in his personal capacity into a consent decree
relating to the business of the Company with any government body; or 
 (v) the Executive’s willful violation of any material provision
of his Non-Disclosure, Non-Competition and Invention Agreement with the Company; provided that, if such violation is able to be cured, the Executive has not, within 30 days after written demand by the Company, cured such violation. 
 For purposes of this definition, no act or failure to act on the Executive’s part shall be deemed “willful” unless done or omitted to be
done by the Executive not in good faith and without reasonable belief that his action or omission was in the best interests of the Company. 
 (b) “Change in Control” means the occurrence of any of the following events: 
 (i) any “person,” as such term is
used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) (other than the Company, any trustee or other fiduciary holding securities under an employee benefit plan of the Company, or any
corporation owned directly or indirectly by the stockholders of the Company in substantially the same proportion as their 

 ownership of stock in the Company) is or becomes the “beneficial owner” (as defined in Rule 13d-3 under the
Exchange Act), directly or indirectly, of securities of the Company representing 50% or more of the combined voting power of the Company’s then outstanding securities (other than as a result of acquisitions of such securities from the Company);

 (ii) individuals who, as of the date hereof, constitute the Board of Directors of the Company (the “Incumbent Board”) cease for
any reason to constitute at least a majority of the Board, provided that any person becoming a director subsequent to the date hereof whose election, or nomination for election by the Company’s stockholders, was approved by a vote of at least a
majority of the directors then comprising the Incumbent Board (other than an election or nomination of an individual whose initial assumption of office is in connection with an actual or threatened election contest relating to the election of the
directors of the Company) shall be, for purposes of this Agreement, considered to be a member of the Incumbent Board; 
 (iii) the
consummation of a merger, share exchange or consolidation of the Company or any subsidiary of the Company with any other corporation (each a “Business Combination”), other than (A) a Business Combination that would result in the
voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of another entity) beneficial ownership, directly or indirectly, of a
majority of the combined voting power of the Company or the surviving entity (including any person that, as a result of such transaction, owns all or substantially all of the Company’s assets either directly or through one or more subsidiaries)
outstanding immediately after such Business Combination or (B) a merger, share exchange or consolidation effected to implement a recapitalization of the Company (or similar transaction) in which no “person” (as defined above) is or
becomes the beneficial owner of 50% or more of the combined voting power of the Company’s then outstanding securities; or 
 (iv) the
stockholders of the Company approve (A) a plan of complete liquidation of the Company; or (B) an agreement for the sale or disposition by the Company of all or substantially all of the Company’s assets but excluding a sale or spin-off
of a product line, business unit or line of business of the Company if the remaining business is significant as determined by the Company’s board of directors in its sole discretion. 
 (c) “Change in Control Termination” means any of the following terminations of the Executive’s employment: 
 (i) termination of the Executive’s employment by the Company during the period from the date of the Change in Control through the second anniversary
thereof, other than for Cause or as a result of the Executive’s death or Disability; 
 (ii) resignation by the Executive for Good
Reason during the period from the date of the Change in Control through the second anniversary thereof; or 
 (iii) termination of the
Executive’s employment by the Company prior to a Change in Control, other than for Cause or as a result of the Executive’s death or Disability, if it is reasonably demonstrated by the Executive that such termination of employment
(A) was at the request of a third party that has taken steps reasonably calculated to effect the Change in Control or (B) was otherwise arose related to or in anticipation of the Change in Control. A Change in Control Termination under
this Section 1(c)(iii) shall be deemed to have occurred if and when the Change in Control occurs. 
 (d) “Disability” means
such physical or mental incapacity as to make the Executive unable to perform the essential functions of his employment duties for a period of at least 60 consecutive days with 

 or without reasonable accommodation. If any question shall arise as to whether during any period the Executive is so
disabled as to be unable to perform the essential functions of his employment duties with or without reasonable accommodation, the Executive may, and at the request of the Company shall, submit to the Company a certification in reasonable detail by
a physician selected by the Company to whom the Executive or the Executive’s guardian has no reasonable objection as to whether the Executive is so disabled or how long such disability is expected to continue, and such certification shall for
the purposes of this Agreement be conclusive of the issue. The Executive shall cooperate with any reasonable request of the physician in connection with such certification. If such question shall arise and the Executive shall fail to submit such
certification, the Company’s determination of such issue shall be binding on the Executive. 
 (e) “Good Reason” means the
occurrence, without the Executive’s consent and without Cause, of any of the following events after or in connection with a Change in Control (provided that the Executive shall have given the Company written notice describing such event and the
matter shall not have been fully remedied by the Company within thirty (30) days after receipt of such notice): 
 (i) any reduction of
the Executive’s annual base salary or target bonus as in effect at the date of the Change in Control; provided that any such reduction (not exceeding fifteen percent (15%) of either (A) such base salary or (B) the sum of such
base salary and such target bonus) that is consistent with similar actions taken with respect to the base salaries and/or target bonuses of the other senior executives of the Company shall not constitute Good Reason; 
 (ii) any material reduction in the aggregate value of the benefits, taken as a whole, for which the Executive is eligible under the Company’s
medical, dental, vision, and basic life insurance and retirement plans, or any other action by the Company that would materially adversely affect the Executive’s participation under any such plans; provided that any such reduction or other
action that is consistent with similar actions taken with respect to comparable benefits of the other senior executives of the Company shall not constitute Good Reason; 
 (iii) a material diminution in the substantive responsibilities or the scope of the Executive’s position, taking into consideration, without limitation, the dollar amount of the budget and the number of employees
for which the Executive has responsibility (and a reduction of more than ten percent (10%) in such dollar amount or such number from that which was applicable at the date of the Change in Control shall be deemed a “material
diminution” unless it is comparable to similar reductions then applicable to the Company’s executive officers generally); 
 (iv)
any breach by the Company of its material obligations under this Agreement; 
 (v) any failure by the Company to obtain the assumption of
this Agreement by any successor or assign of the Company; or 
 (vi) any requirement that the Executive relocate to a work site that would
increase the Executive’s one-way commute distance by more than fifty (50) miles from the Executive’s then principal residence. 
 (f) “Stock Plan” means any stock option or equity compensation plan of the Company in effect at any time, including without limitation the 1987 Incentive Stock Option Plan, the 1997 Incentive Stock Option Plan, the 1997
Nonqualified Stock Option Plan, and the 2000 Equity Incentive Plan. 

 2. Termination of Employment without Cause. 
 If the Company terminates the Executive’s employment without Cause, other than due to his death or Disability, the Executive shall be entitled to the
following: 
 (a) a lump sum payment in an amount equal to one times the highest annual salary (excluding any bonuses) in effect with respect
to the Executive during the six-month period immediately preceding the termination date, payable within thirty (30) days after the termination date; and 
 (b) continued participation in the Company’s medical, dental, vision and basic life insurance benefit plans (the “Benefit Plans”), subject to the terms and conditions of the respective plans and
applicable law, for a period of one year following the termination date; provided that, to the extent that the Benefit Plans do not permit such continuation of the Executive’s participation following his termination or any such plan is
terminated, the Company shall pay the Executive an amount which is sufficient for him to purchase equivalent benefits, such amount to be paid quarterly in advance; provided further, however, that to the extent the Executive becomes eligible to
receive medical, dental, vision and/or basic life insurance benefits under a plan provided by another employer, the Executive’s entitlement to participate in the Benefit Plans or to receive such alternate payments shall cease as of the date the
Executive is eligible to participate in such other plan, and the Executive shall notify the Company of his eligibility under such plan. 
 3. Change in
Control. 
 This Section 3 shall apply if a Change in Control occurs while this Agreement is in effect. 
 (a) Equity Awards. Effective upon a Change in Control that occurs during the Executive’s employment, the following shall occur: 

(i) any performance criteria applicable to any stock options, stock appreciation rights, restricted stock units, restricted stock or other equity
awards issued under any Stock Plan and held by the Executive shall be deemed to have been met in full; 
 (ii) the vesting schedule
applicable to any stock options, stock appreciation rights, restricted stock units or other equity awards issued under any Stock Plan and held by Executive shall be amended automatically so that each such equity award shall thereupon vest to the
extent that such equity award, in the absence of such amendment, would have been vested from and after the date which is two years after the Change in Control; provided that if any such stock option, stock appreciation right, restricted stock unit
or other equity award is not assumed, or an award or payment of equivalent value is not substituted therefor, by any acquirer of or successor to the Company, then such stock option, stock appreciation right, restricted stock unit or other equity
award shall thereupon become vested and exercisable in full; 
 (iii) the vesting schedule applicable to any shares of restricted stock
issued under any Stock Plan and held by Executive shall be amended automatically so that the restrictions shall thereupon lapse with respect to all shares that, in the absence of such amendment, would not have been restricted shares from and after
the date which is two years after the Change in Control; and 
 (iv) each outstanding equity award held by the Executive shall be amended to
provide that, notwithstanding any provision of any Stock Plan, no outstanding share of restricted stock, stock option, stock appreciation right, restricted stock unit or other equity award held by the Executive may be terminated without the
Executive’s written consent (other than (A) any unvested portion thereof that is 

 terminated or forfeited upon termination of the Executive’s employment as provided in any agreement or certificate
executed in connection with any such equity award, (B) a stock option the termination of which is covered by Section 8(i) of the Company’s 2000 Equity Incentive Plan, or (C) upon payment of equivalent value for such terminated
award). 
 This Section 3(a) shall not apply to any shares of restricted stock, restricted stock units or other equity awards granted to the Executive
as an incentive bonus under the Company’s Executive Incentive Performance Plan or under similar short-term incentive plans (collectively, “Bonus Equity”), which shall be treated as provided in Section 3(b)(ii). 
 (b) Accrued Bonus. Effective upon a Change in Control that occurs during the Executive’s employment or upon a Change in Control Termination
under Section 1(c)(iii): 
 (i) the Executive shall be entitled to payment of a pro-rata portion of any annual cash incentive award for
which the Executive is eligible for the fiscal year in which the Change in Control occurs, based on the Executive’s target cash bonus for such year and the percentage of the year completed through the date of the Change in Control, for the
purposes of which any performance criteria applicable to such award shall be deemed to have been met in full, which payment shall be made in one lump sum within thirty (30) days of the date of the Change in Control; and 
 (ii) the vesting schedule applicable to any Bonus Equity held by the Executive shall be amended automatically so that a pro-rata portion of any such
Bonus Equity equal to the percentage of the respective fiscal year completed through the date of the Change in Control shall thereupon be vested and subject to no further restrictions, and the portion not so vested shall thereupon automatically be
cancelled and forfeited to the Company. 
 (c) Change in Control Termination Benefits. 
 (i) Equity Awards. Effective upon a Change in Control Termination, the following shall occur: 
 (A) all outstanding stock options, stock appreciation rights, restricted stock units and other equity awards issued under any Stock Plan and held by the
Executive shall immediately become vested and exercisable in full; and 
 (B) all restrictions applicable to restricted stock issued under
any Stock Plan and held by the Executive shall immediately lapse; 
 provided that the foregoing shall not apply to any Bonus Equity, which shall be treated
as provided in Section 3(b)(ii). 
 (ii) Make-Up Payment. Effective upon a Change in Control Termination under
Section 1(c)(iii), the Company shall pay the Executive in a lump sum the amount equal to the excess, if any, of (A) the product of (1) the number of additional shares of the Company’s Common Stock that either were subject to
options, stock appreciation rights or other awards that became vested and exercisable and/or were restricted stock or restricted stock units as to which the restrictions lapsed, in each case solely as a result of Section 3(c)(i), and for which
the Executive would have been entitled to receive consideration in the Change in Control (on the same basis as other holders of Common Stock) had the Executive remained employed on the date of the Change in Control and were deemed to have exercised
all the stock options that would then have become exercisable under Section 3(c)(i)(A) times (2) the amount per share of the Company’s Common Stock (if any) received by the Company’s 

 stockholders generally pursuant to the Change in Control over (B) the aggregate exercise price of all such
additional stock options that the Executive would then have become able to exercise upon the Change in Control as a result of Section 3(c)(i)(A); whereupon all such stock options, stock appreciation rights, and other awards shall terminate and
shall no longer be exercisable. 
 (iii) Salary, Bonus and Benefits. Effective upon any Change in Control Termination, the Executive
shall be entitled to the following: 
 (A) a lump sum payment in an amount equal to one times his base salary plus his target bonus, such
salary to be the highest annual salary (excluding any bonuses) in effect with respect to the Executive during the six-month period immediately preceding the Executive’s termination and such target bonus to be the highest target bonus in effect
with respect to the Executive for (1) the year in which the Change in Control occurs, (2) the year following the year in which the Change in Control occurs, or (3) the year in which the Change in Control Termination occurs, whichever
is highest, payable within thirty (30) days after the termination date; provided that, upon a termination described in Section 1(c)(ii), payment of such amount shall be made upon the earlier of (a) six months and one day following the
termination date and (b) the earliest date as of which such payment may be made without penalty pursuant to Section 409A(a)(2) of the U.S. Internal Revenue Code of 1986 (the “Code”); 
 (B) continued participation in the Benefit Plans, subject to the terms and conditions of the respective plans and applicable law, for a period of one
year following the termination date; provided that, to the extent that the Benefit Plans do not permit such continuation of the Executive’s participation following his termination or any such plan is terminated, the Company shall pay the
Executive an amount which is sufficient for him to purchase equivalent benefits, such amount to be paid quarterly in advance; provided, further, however, that to the extent the Executive becomes eligible to receive medical, dental, vision and/or
basic life insurance benefits under a plan provided by another employer, the Executive’s entitlement to participate in the Benefit Plans or to receive such alternate payments shall cease as of the date the Executive is eligible to participate
in such other plan, and the Executive shall notify the Company of his eligibility under such plan. 
 Payments and benefits under this Section 3(c)
shall be in lieu and without duplication of any amounts or benefits under Section 2, and the Executive shall be entitled to any such payments and benefits for no more than two years even if both such sections apply. If, in the event of a Change
in Control Termination under Section 1(c)(iii), the Executive becomes entitled to payments under this Section 3(d) after he has begun to receive payments under Section 2, he shall be entitled to a make-up payment to ensure that he
receives the higher amount payable hereunder for the full two-year period. 
 (d) Deemed Amendment of Equity Awards. The Company and
the Executive hereby agree that the agreements evidencing any equity awards to the Executive are hereby and will be deemed amended to give effect to the provisions of Sections 3 and 4 of this Agreement. 
 4. Death or Disability. 
 Effective upon
termination of the Executive’s employment due to his death or Disability, the following shall occur: 
 (a) all performance criteria
applicable to any stock options, stock appreciation rights, restricted stock units, restricted stock or other equity awards issued under any Stock Plan and held by the Executive shall be deemed to have been met in full; 

 (b) all outstanding stock options, stock appreciation rights, restricted stock units and other equity
awards issued under any Stock Plan shall immediately become vested and exercisable in full; and 
 (c) all restrictions applicable to
restricted stock issued under any Stock Plan and held by the Executive shall immediately lapse; 
 provided that the foregoing shall not apply to any Bonus
Equity. 
 5. Taxes. 
 (a) Withholding. All payments to be made to the Executive under this Agreement will be subject to any required withholding of federal, state and local income and employment taxes. In addition, the Company may
withhold from any payments hereunder any amounts attributable to withholding taxes applicable to the lapse of restrictions on restricted stock or the vesting of restricted stock units owned by the Executive pursuant to Sections 3 or 4, including, in
its discretion withholding from any shares deliverable to the Executive such number of shares as the Company determines is necessary to satisfy such tax obligations, valued at their fair market value (determined pursuant to the respective Company
equity compensation plan) as of the date such restrictions lapse. 
 (b) Excess Parachute Payment Tax. 
 (i) If it is determined that any payment, benefit or distribution (for the purposes of this Section 5(b), each, a “payment”) from the
Company to or for the benefit of the Executive would be subject to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), the Company shall pay to the Executive an additional payment (the “Gross-Up Payment”)
in an amount such that after payment by the Executive of all taxes (including any interest or penalties imposed with respect to such taxes), including, without limitation, any income taxes (and any interest and penalties imposed with respect
thereto) and Excise Tax imposed upon the Gross-Up Payment, the Executive retains an amount of the Gross-Up Payment equal to the Excise Tax; provided, however, that if a reduction in the amount of the payments (other than the Gross-Up Payment) to the
Executive would cause the payments not to be subject to the Excise Tax and the amount of such reduction does not exceed fifteen percent (15%) of the payments (other than the Gross-Up Payment) that would be subject to the Excise Tax (the
“Parachute Payments”), then the amount of payments from the Company to the Executive shall be reduced by the minimum amount necessary so that the remaining payments to the Executive will not be subject to the Excise Tax and the Executive
will not be entitled to the Gross-Up Payment. In the event that the payments to the Executive are to be reduced, the Company shall promptly give the Executive notice to that effect and the Executive may then elect, in his sole discretion, which and
how much of the payments shall be eliminated or reduced (as long as, after such election, none of the payments to the Executive are subject to the Excise Tax), and shall advise the Company in writing of his election within ten (10) days of his
receipt of the Company’s notice. If no such election is made by the Executive within such period, the Company may elect which and how much of the payments shall be eliminated or reduced (as long as, after such election, none of the payments to
the Executive are subject to the Excise Tax) and shall notify the Executive promptly of such election. Notwithstanding the foregoing, the Company shall be entitled to exhaust its remedies under Sections 5(b)(ii) and (iii) below prior to the
payment of any Gross-Up Payment and the Executive shall not be entitled to any Gross-Up Payment if the Executive has not complied with Section 5(b)(ii) or (iii), as the case may be. 
 (ii) Subject to the provisions of Section 5(b)(iii), all determinations required to be made under this Section 5(b), including whether and when
a Gross-Up Payment is required, the amount of any such Gross-Up Payment, the amount of any reduction of the payments to the Executive and the assumptions to be used in arriving at such determination, shall be made by an independent accounting

 firm selected by the Company, whose determinations shall be binding upon the Company and the Executive. Notwithstanding
any determination by such accounting firm, if it is later determined that: 
 (A) the amount of the Executive’s Excise Tax liability is
greater than the amount of the initial Gross-Up Payment, if any, the Company shall pay to the Executive an additional amount with respect to such additional Excise Tax such that the aggregate Gross-Up Payment is equal to the amount contemplated by
Section 5(b)(i) above; provided, however, that if a reduction in the aggregate amount of the payments (other than the Gross-Up Payment) to the Executive would cause the payments not to be subject to the Excise Tax and the amount of such
reduction would not exceed fifteen percent (15%) of the Parachute Payments the Executive was originally entitled to receive (other than the Gross-Up Payment), then the Executive shall return a portion of the payments the Executive received
equal to the minimum amount necessary so that the payments retained by the Executive will not be subject to the Excise Tax, reduced by the amount of any relevant taxes already paid by the Executive and not refundable; 
 (B) the amount of the Executive’s Excise Tax liability is less than the Excise Tax liability with respect to which the initial Gross-Up Payment was
made, the Executive shall, as soon as practical after the determination is made, pay to the Company the amount of the overpayment by the Company, reduced by the amount of any relevant taxes already paid by the Executive and not refundable; provided,
however, that if, as a result of the reduced Excise Tax liability, a reduction in the amount of the payments (other than the Gross-Up Payment) to the Executive would cause the payments not to be subject to the Excise Tax and the amount of such
reduction would not exceed fifteen percent (15%) of the Parachute Payments the Executive was originally entitled to receive (other than the Gross-Up Payment), then the Executive shall return to Company the Gross-Up Payment and a portion of the
payments the Executive received equal to the minimum amount necessary so that the payments retained by the Executive will not be subject to the Excise Tax, reduced by the amount of any relevant taxes already paid by the Executive and not refundable;

 (C) the amount of the Executive’s Excise Tax liability is greater than the amount originally determined and the payments to the
Executive were previously reduced, the Company shall pay to the Executive the amount of the reduced payments and a Gross-Up Payment equal to the amount contemplated by Section 5(b)(i) above; provided, however, that if a further reduction in the
amount of the payments (other than the Gross-Up Payment) to the Executive would cause the payments not to be subject to the Excise Tax and the amount of the aggregate reduction would not exceed fifteen percent (15%) of the Parachute Payments
the Executive was originally entitled to receive (other than the Gross-Up Payment), then the Executive shall return a portion of the payments the Executive received equal to the minimum amount necessary so that the payments retained by the Executive
will not be subject to the Excise Tax, reduced by the amount of any relevant taxes already paid by the Executive and not refundable; or 
 (D) the amount of the Executive’s Excise Tax liability is less than the amount originally determined and the payments to the Executive were previously reduced, the Company shall pay to the Executive the amount of the reduced payments,
or a portion thereof, to the extent necessary so that the aggregate payments paid to the Executive will not be subject to the Excise Tax. 
 Upon request of
the Company, the Executive agrees to make available to the Company and an independent auditor selected by the Company the Executive’s tax returns and such other financial information that the Company may reasonably request to verify the amount
payable by the Company or the Executive pursuant to clause (A), (B), (C) or (D) above, as applicable. 

 (iii) The Executive shall notify the Company in writing of any claim by the Internal Revenue Service
that, if successful, would require the payment by the Company of the Gross-Up Payment. Such notification shall be given as soon as practicable but no later than thirty (30) days after the Executive is informed in writing of such claim and shall
apprise the Company of the nature of such claim and the date on which such claim is requested to be paid. The Executive shall not pay such claim prior to the expiration of the thirty (30) day period following the date on which the Executive
gives such notice to the Company (or such shorter period ending on the date that any payment of taxes with respect to such claim is due). If the Company notifies the Executive in writing prior to the expiration of such period that the Company
desires to contest such claim, the Executive shall: (A) provide the Company with any information reasonably requested by the Company relating to such claim, (B) take such action in connection with contesting such claim as the Company shall
reasonably request in writing from time to time, including, without limitation, accepting legal representation with respect to such claim by an attorney reasonably selected by the Company, (C) cooperate with the Company in good faith in order
effectively to contest such claim, and (D) permit the Company to participate in any proceedings relating to such claim. The Company shall bear and pay directly all costs and expenses (including additional interest and penalties) incurred in
connection with such contest, and shall indemnify and hold the Executive harmless, on an after-tax basis, for any Excise Tax or income or other tax (including interest and penalties with respect thereto) imposed as a result of such representation
and payment of costs and expenses. Without limitation on the foregoing provisions of this Section 5(b), the Company shall control all proceedings taken in connection with such contest, and, at its sole option, may pursue or forgo any and all
administrative appeals, proceedings, hearings and conferences with the applicable taxing authority in respect of such claim and may, at its sole option, either direct the Executive to pay the tax claimed and sue for a refund or contest the claim in
any permissible manner, and the Executive agrees to prosecute such contest to a determination before any administrative tribunal, in a court of initial jurisdiction and in one or more appellate courts, as the Company shall determine. 
 6. Term. 
 This Agreement shall continue in
effect for a period of two years from the Effective Date and shall automatically renew thereafter on an annual basis for additional twelve-month terms unless either party provides written notice to the other party of non-renewal at least ninety
(90) days prior to the expiration of the then current term. If a Change in Control occurs while this Agreement is in effect, the term of this Agreement shall automatically be extended to the second anniversary of the Change in Control. Except
as otherwise expressly set forth in this Agreement, upon the termination of this Agreement, the respective rights and obligations of the parties shall survive to the extent necessary to carry out the intentions of the parties as embodied herein.

 7. Successors and Assigns. 
 (a)
This Agreement is personal to the Executive and is not assignable by the Executive, other than by will or the laws of descent and distribution, without the prior written consent of the Company. 
 (b) This Agreement shall inure to the benefit of and be binding upon the Company and its successors and assigns. 
 (c) The Company will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of
the business and/or assets of the Company to assume expressly and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place. As used in this
Agreement, “Company” shall mean the Company as defined above and any successor to its business and/or assets that assumes and agrees to perform this Agreement. 

 8. No Duty to Mitigate. 
 In no event shall the Executive be obligated to seek other employment or take any other action by way of mitigation of the amounts payable to the Executive under any of the provisions of this Agreement and, except as
contemplated by Sections 2(b) and 3(c)(iii)(B)hereof, any benefits payable to the Executive hereunder shall not be subject to reduction for any compensation received from other employment. 
 9. Conditions to Payment of Severance. 
 Notwithstanding any other provision of this Agreement, the Executive’s entitlement to receive any of the payments and other benefits contemplated by Sections 2 or 3 hereof shall be contingent upon: 
 (a) execution by the Executive on the date of termination of a release in substantially the form of Exhibit A hereto (the
“Release”), and the Executive hereby acknowledges and agrees that the Company’s entering into this Agreement and agreement to make such payments are and shall be good and sufficient consideration for such Release; and 
 (b) the Executive’s continued compliance with the material terms of this Agreement, as applicable, and those of his Non-Disclosure, Non-Competition
and Invention Agreement with the Company. 
 10. Miscellaneous. 
 (a) This Agreement shall be governed by and construed in accordance with the laws of the Commonwealth of Massachusetts, except any such laws that would render such choice of law ineffective. 
 (b) This Agreement is intended, to the extent applicable, to constitute good faith compliance with the requirements of Section 409A of the Code. The
Company and the Executive agree that they shall cooperate in good faith to amend any provision hereof to the extent required to maintain compliance with the provisions of Section 409A of the Code as they may be modified hereafter (including by
subsequent regulations or other guidance of the Internal Revenue Service). 
 (c) This Agreement may not be amended or modified otherwise
than by a written agreement executed by the parties hereto or their respective successors and legal representatives. 
 (d) This Agreement
constitutes the entire understanding and agreement between the parties hereto with regard to the compensation and benefits payable to the Executive in the circumstances described herein, superseding all prior understandings and agreements, whether
oral or written, including the Agreement dated                      between the Company and the Executive, which has terminated and is no
longer in effect. 
 (e) The Company agrees to pay as incurred and within 20 days after submission of supporting documentation, to the full
extent permitted by law, all legal fees and expenses the Executive may reasonably incur as a result of any contest by the Company, the Executive or others of the validity or enforceability of, or liability under, any provision of this Agreement
(including as a result of any contest by the Executive about the amount of any payment pursuant to this Agreement) with respect to which the Executive is successful on the merits, plus, in each case, interest on any delayed payment at the applicable
Federal rate provided for in Section 7872(f)(2)(A) of the Code. 
 (f) All notices and other communications hereunder shall be in
writing and shall be delivered by hand delivery, by a reputable overnight courier service, or by registered or certified mail, return receipt requested, postage prepaid, in each case addressed as follows: 

 If to the Company: 
 Parametric Technology Corporation 
 140 Kendrick Street 
 Needham, MA 02494 
 Attention: General Counsel

 If to the Executive: 
 [Name]

 [Address] 
 [Address]

 or to such other address as either party shall have furnished to the other in writing in accordance herewith. Any notice or communication shall be deemed
to be delivered upon the date of hand delivery, one day following delivery to an overnight courier service, or three days following mailing by registered or certified mail. 
 EXECUTED as of the date first written above. 
  

							
	PARAMETRIC TECHNOLOGY CORPORATION	  	 	  	[NAME]
				
	By:	 	  
	  		  	  

	Title:3rd Amendment to Letter of Credit Agreement

 EXHIBIT 10.2 
 THIRD AMENDMENT TO 
 LETTER OF CREDIT AGREEMENT 
 This Third Amendment to Letter of Credit Agreement (the “Third Amendment”) is made as of the 21st day of July, 2006 by and among 
 KMART CORPORATION
(“Kmart”), a corporation organized under the laws of the State of Michigan having a place of business at 3100 West Big Beaver Road, Troy, Michigan 48084, 
 SEARS HOLDINGS CORPORATION (“Sears Holdings”), a corporation organized under the laws of the State of Delaware having a place of business at 3333 Beverly Road, Hoffman Estates, Illinois 60179; 
 SEARS ROEBUCK ACCEPTANCE CORP. (“SRAC”), a corporation organized under the laws of the State of Delaware having a place of business at 3711
Kennett Pike, Greenville, Delaware 19807; 
 SEARS ROEBUCK AND CO. (“Sears”), a corporation organized under the laws of the State of
New York having a place of business at 3333 Beverly Road, Hoffman Estates, Illinois 60179; 
 BANK OF AMERICA, NATIONAL ASSOCIATION (the
“Issuing Bank”), a national banking association having a place of business at 100 Federal Street, Boston, Massachusetts 02110. 
 WITNESSETH 
 WHEREAS, Kmart, the Issuing Bank and Fleet National Bank have entered into a Letter of Credit Agreement
dated as of August 13, 2004 (as amended and in effect, the “Credit Agreement”); and 
 WHEREAS, Fleet National Bank has merged
with and into the Issuing Bank; and 
 WHEREAS, Kmart and the Issuing Bank have agreed to amend the Credit Agreement to add certain
Affiliates of Kmart to the Credit Agreement as account parties and as otherwise set forth herein. 
 NOW THEREFORE, it is hereby agreed as
follows: 
  

	1.	Definitions: All capitalized terms used herein and not otherwise defined shall have the same meaning herein as in the Credit Agreement. 

  

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	2.	Amendments to Article 1. The provisions of Article 1 of the Credit Agreement are hereby amended as follows: 

  

	 	a.	by adding the following definitions in appropriate alphabetical order: 

  

	 	i.	“Account Parties” means each of Kmart, Sears, and the Subsidiary Credit Parties. 

  

	 	ii.	“Renewal Date” has the meaning provided in Section 2.11(b) hereof. 

  

	 	iii.	“Sears” means Sears Roebuck and Co., a corporation organized under the laws of the State of New York having a place of business at 3333 Beverly Road, Hoffman
Estates, Illinois 60179. 

  

	 	iv.	“Sears Holdings” means Sears Holdings Corporation, a corporation organized under the laws of the State of Delaware having a place of business at 3333 Beverly Road,
Hoffman Estates, Illinois 60179. 

  

	 	v.	“SRAC” means Sears Roebuck Acceptance Corp., a corporation organized under the laws of the State of Delaware having a place of business at 3711 Kennett Pike,
Greenville, Delaware 19807. 

  

	 	vi.	“Third Amendment” means the Third Amendment to Letter of Credit Agreement dated as of July 21, 2006. 

  

	 	vii.	“Voting Stock” means capital stock issued by a corporation, or equivalent interests in any other Person, the holders of which are ordinarily, in the absence of
contingencies, entitled to vote for the election of directors (or persons performing similar functions) of such Person, even if the right so to vote has been suspended by the happening of such a contingency. 

  

	 	b.	The definition of “Cash Collateral Account” is hereby amended by adding the words “or any other Account Party” after the word “Kmart” in the first line
thereof. 

  

	 	c.	The definition of “Change in Control” is hereby deleted in its entirety and the following substituted in its stead: 

 “Change in Control” means (a) any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of
the Securities and Exchange Act of 1934, but excluding any employee benefit plan of such person or its Subsidiaries, and any Person or entity acting in its capacity as trustee, agent or other fiduciary or administrator of any such plan) other than
ESL and its Affiliates becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Securities Exchange Act of 1934, except that a 
  

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 person or group shall be deemed to have “beneficial ownership” of all securities that such
person or group has the right to acquire (such right, an “option right”), whether such right is exercisable immediately or only after the passage of time), directly or indirectly, of 35% or more of the Voting Stock of Sears Holdings
on a fully-diluted basis (and taking into account all such securities that such person or group has the right to acquire pursuant to any option right) and such “person” or “group” shall beneficially own (as such term is used
herein) a greater percentage of the Voting Stock of Sears Holdings than ESL and its Affiliates shall, collectively, beneficially own; or (b) during any period of 12 consecutive months, a majority of the members of the Board of Directors or
other equivalent governing body of Sears Holdings cease to be composed of individuals (x) who were members of that board or equivalent governing body on the first day of such period, (y) whose election or nomination to that board or
equivalent governing body was approved by individuals referred to in clause (x) above constituting at the time of such election or nomination at least a majority of that board or equivalent governing body or (z) whose election or
nomination to that board or other equivalent governing body was approved by individuals referred to in clauses (x) and (y) above constituting at the time of such election or nomination at least a majority of that board or equivalent
governing body (excluding, in the case of both clause (y) and clause (z), any individual whose initial nomination for, or assumption of office as, a member of that board or equivalent governing body occurs as a result of an actual or threatened
solicitation of proxies or consents for the election or removal of one or more directors by any person or group other than a solicitation for the election of one or more directors by or on behalf of the Board of Directors); or (c) Sears
Holdings shall cease for any reason to own, directly or indirectly, 100% of the Voting Stock of Sears and Kmart. 
  

	 	d.	The definition of “Commitment” is hereby deleted in its entirety and the following substituted in its stead: 

 “Commitment” means $1,000,000,000, or such lesser amount on account of a reduction thereof in accordance with the provisions of
Section 2.11 hereof. 
  

	 	e.	The definition of “Continuing Directors” is hereby deleted in its entirety. 

  

	 	f.	The definition of “Credit Request” is hereby amended by deleting the word “Kmart” and substituting the words “any Account Party” in its stead.

  

	 	g.	The definition of “Inventory” is hereby amended by adding the words “or any Subsidiary Credit Party” after the word “Kmart” wherever the same shall
appear. 

  

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	 	h.	The definition of “Inventory Collateral Election Effective Date” is hereby amended by (i) deleting the words “and its subsidiaries” in clause
(b) thereof and substituting the words “and each other Subsidiary Credit Party” in its stead, and (ii) adding the words “and each other Subsidiary Credit Party” after the word “Kmart” in clauses (b),
(d) and (f). 

  

	 	i.	The definition of “Issuing Bank” is hereby amended by deleting the word “Fleet.” 

  

	 	j.	The definition of “Material Adverse Effect” is hereby amended by adding the word “Sears” before the word “Holdings” in clause (a) thereof.

  

	 	k.	The definition of “Pledge and Security Agreement” is hereby amended by deleting the word “Kmart” and substituting the words “the Account Parties” in
its stead. 

  

	 	l.	The definition of “Security Agreement” is hereby amended by adding the words “and each other Subsidiary Credit Party’s” after the word “Kmart.”

  

	 	m.	The definition of “Subsidiary Credit Parties” is hereby deleted in its entirety and the following substituted in its stead: 

 “Subsidiary Credit Parties” means (i) any Account Party other than Kmart and (ii) any Subsidiary of Kmart or Sears for whose
account a Letter of Credit is issued by an Issuing Bank, including SRAC. 
  

	 	n.	The definition of “Termination Date” is hereby amended by deleting the date “August 13, 2007 in clause (i) thereof and substituting the words “the Renewal
Date” in its stead. 

  

	3.	Amendments to Article 2. The provisions of Article 2 of the Credit Agreement are hereby amended as follows: 

  

	 	a.	The provisions of Section 2.01(a) of the Credit Agreement are hereby amended by deleting the word “Kmart” in the first line thereof and substituting the words
“Kmart or any Subsidiary Credit Party” in its stead. 

  

	 	b.	The provisions of Section 2.02 of the Credit Agreement are hereby amended by deleting the word “Kmart” in clauses (i) and (ii) thereof and substituting the
words “Kmart and the applicable Subsidiary Credit Party” in its stead. 

  

	 	c.	The provisions of Section 2.03 of the Credit Agreement are hereby amended by deleting the word “Kmart” in the third line thereof and substituting the words
“Kmart and the applicable Subsidiary Credit Party” in its stead. 

  

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	 	d.	The provisions of Section 2.05 of the Credit Agreement are hereby amended by deleting the word “Kmart” in the third and fourth lines thereof and substituting the
words “Kmart and the applicable Subsidiary Credit Party” in its stead. 

  

	 	e.	The provisions of Section 2.08 of the Credit Agreement are hereby amended as follows: 

  

	 	i.	by deleting “0.20%” in clause (i) thereof and substituting “0.175%” in its stead. 

  

	 	ii.	by deleting the word “Kmart” in clause (iv) thereof and substituting the words “Kmart or any Subsidiary Credit Party” in its stead.

  

	 	f.	The provisions of Section 2.11 of the Credit Agreement are hereby deleted in their entirety and the following substituted in their stead: 

  

	 	2.11	Termination or Reduction of Commitments. 

 (a) Upon
at least three (3) Business Days’ prior written notice to the Issuing Banks Kmart and the Subsidiary Credit Parties may, at any time, in whole permanently terminate, or from time to time in part permanently reduce, the Commitments. Each
such reduction shall be in the principal amount of $5,000,000 or any integral multiple of $1,000,000 in excess thereof. Each such reduction or termination shall be irrevocable when given. No reduction in the Commitments shall result in the
Commitments being less than the then Letter of Credit Outstandings. 
 (b) Except as otherwise provided herein, this Agreement shall continue
in full force and effect for a term ending on the date 364 days from the date of the Third Amendment (the “Renewal Date”), and from year to year thereafter, unless sooner terminated pursuant to the terms hereof. Either the Issuing
Banks or Kmart and the Subsidiary Credit Parties may terminate this Agreement effective on the Renewal Date or on the anniversary of the Renewal Date in any year by giving to the other party at least ninety (90) days prior written notice. Upon
Renewal Date or any other effective date of termination of this Agreement, all Commitments shall immediately terminate. 
  

	 	g.	The provisions of Section 2.12 of the Credit Agreement are hereby amended by (i) deleting the word “Kmart” in the third line of clause (b) thereof and
substituting the words “Kmart and the Subsidiary Credit Parties” in its stead, and (ii) deleting the word “Kmart” in the fifth line of clause (b) thereof and substituting the words “Kmart or the applicable
Subsidiary Credit Party” in its stead. 

  

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	4.	Amendments to Article 8. The provisions of Section 8.01(a) of the Credit Agreement are hereby deleted in their entirety and the following substituted in their stead:

  

	 	a.	if to any Account Party or any Subsidiary Credit Party to it at 3333 Beverly Road, Hoffman Estates, Illinois 60179, Attention: Treasurer (Telecopy No. (847) 286-2055), with a
copy to General Counsel (Telecopy No. (847) 286-2471); 

  

	5.	Joinder to Credit Agreement and Assumption of Obligations. Effective as of the date of this Third Amendment, each of Sears and the other Subsidiary Credit Parties hereby
acknowledges that each of them has received and reviewed a copy of the Credit Agreement and the Credit Documents, and acknowledges and agrees to: 

  

	 	a.	join in the execution of, and become a party to, the Credit Agreement as a Subsidiary Credit Party thereunder, as indicated with its signature below; 

  

	 	b.	be bound by all representations, warranties, covenants, agreements, liabilities and acknowledgments of under the Credit Agreement and the other Credit Documents, in each case, with
the same force and effect as if such subsidiary Credit Party were a signatory to the Credit Agreement and the credit Documents and was expressly named therein; and 

  

	 	c.	assume all rights and interests and perform all applicable duties and Obligations under the Credit Agreement and the Credit Documents. 

  

	6.	Conditions to Effectiveness. This Third Amendment shall not be effective until each of the following conditions precedent have been fulfilled to the satisfaction of the
Issuing Banks: 

  

	 	a.	This Third Amendment shall have been duly executed and delivered by the Kmart and the Subsidiary Credit Parties and the Issuing Banks. 

  

	 	b.	Kmart and the Subsidiary Credit Parties shall reimburse the Issuing Banks for all expenses incurred by the Issuing Banks in connection herewith, including, without limitation,
reasonable attorneys’ fees. 

  

	 	c.	The Account Parties shall have entered into an amendment to the Pledge and Security Agreement in form and substance reasonably satisfactory to the Issuing Banks.

  

	 	d.	No Default or Event of Default shall have occurred and be continuing. 

  

	7.	Miscellaneous. 

  

	 	a.	Except as provided herein, all terms and conditions of the Credit Agreement and the other Credit Documents remain in full force and effect. Kmart and the Subsidiary Credit Parties
hereby ratify, confirm, and reaffirm all of the representations, warranties and covenants therein contained. 

  

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	 	b.	This Third Amendment may be executed in several counterparts and by each party on a separate counterpart, each of which when so executed and delivered, each shall be an original,
and all of which together shall constitute one instrument. Delivery of an executed counterpart of a signature page hereto by telecopy shall be effective as delivery of a manually executed counterpart hereof. 

  

	 	c.	This Third Amendment expresses the entire understanding of the parties with respect to the matters set forth herein and supersedes all prior discussions or negotiations hereon.

  

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 IN WITNESS WHEREOF, the parties hereto have caused this Third Amendment to be executed and their seals to
be hereto affixed as the date first above written. 
  

			
	KMART CORPORATION
		
	By	 	 /s/ Allen R. Ravas

	Print Name:	 	Allen R. Ravas
	Title:	 	Vice President and Treasurer
	
	SEARS ROEBUCK AND CO.
		
	By	 	 /s/ Allen R. Ravas

	Print Name:	 	Allen R. Ravas
	Title:	 	Vice President and Treasurer
	
	OTHER SUBSIDIARY CREDIT PARTIES
		
	By	 	 /s/ Allen R. Ravas

	Print Name:	 	Allen R. Ravas
	Title:	 	Vice President and Treasurer
	
	 BANK OF AMERICA, NATIONAL
 ASSOCIATION

		
	By	 	 /s/ James Ward

	Print Name:	 	James Ward
	Title:	 	Managing Director

  

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