Document:

AMENDED & RESTATED SEVERANCE AGMT

  
 EXHIBIT 10.13 
  
 Agreement 
  
 This Agreement is entered
into as of this 1st day of July, 2002, between Parametric Technology Corporation, a Massachusetts corporation (the “Company”), and James E. Heppelmann (“Heppelmann”). 
  
 WHEREAS, Heppelmann is the Executive Vice President, Software Products and Chief Technology Officer; and 
  
 WHEREAS, to provide incentive for Heppelmann to maintain employment with the Company, the Company desires to make the following arrangements with Heppelmann concerning his
termination of employment. 
  
 NOW, THEREFORE, the Company and Heppelmann hereby agree as follows: 

 
 1.    Termination Notice.    The Company agrees that it may not terminate the
employment of Heppelmann unless (i) such termination is for Cause (as defined below) or (ii) the Company has delivered to Heppelmann a written notice of such termination (the “Termination Notice”) at least six months in advance of the
termination date. The duties of Heppelmann during the period from the date of delivery of a Termination Notice until the termination of his employment shall be as determined by the Board of Directors or the Chief Executive Officer. 

 
 2.    Salary.    During the period from the date of delivery of the Termination
Notice (the “Notice Date”) until the earlier of (i) the date six months after the Notice Date or (ii) the date Heppelmann commences employment with another company or organization, the Company shall pay to Heppelmann a salary that is
equal, on an annualized basis, to the highest annual salary (excluding any bonuses) in effect with respect to Heppelmann during the six-month period immediately preceding the Termination Notice. 
  

3.    Stock Options and Other Equity Awards.    Effective upon a Change in Control (as defined below) of the Company;
(i) all outstanding Options and Stock Appreciation Rights (SARs) granted under any Stock Plan (as defined below) held by Heppelmann shall immediately become exercisable in full, (ii) all restrictions applicable to Restricted Stock held by Heppelmann
under any Stock Plan shall immediately lapse, and (iii) all other criteria for vesting of any award granted under any Stock Plan and held by Heppelmann shall be deemed to have been met, notwithstanding any vesting schedule or other provisions to the
contrary in the agreements evidencing such Options, SARs, Restricted Stock or other award. The Company and Heppelmann hereby agree that such agreements are hereby and will be deemed amended to give effect to this provision. 

 
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 4.    Definitions. 
  
 (a)    A termination by the Company of Heppelmann’s employment for “Cause” shall mean
termination (i) for Heppelmann’s willful and continued failure to substantially perform his duties to the Company (other than any such failure resulting from Heppelmann’s incapacity due to physical or mental illness), provided that (a) the
Company has delivered a written demand for substantial performance to Heppelmann specifically identifying the manner in which the Company believes that Heppelmann has not substantially performed his duties, and (b) Heppelmann has not cured such
failure within 30 days after such demand, (ii) for willful conduct by Heppelmann which is demonstrably and materially injurious to the Company, or (iii) for Heppelmann’s willful violation of any material provision of any confidentiality,
nondisclosure, assignment of invention, noncompetition or similar agreement entered into by Heppelmann in connection with his employment by the Company. For purposes of this paragraph, no act or failure to act on Heppelmann’s part shall be
deemed “willful” unless done or omitted to be done by Heppelmann not in good faith and without reasonable belief that his action or omission was in the best interests of the Company. 
  

(b)    A “Change in Control” of the Company shall mean 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,
 

 
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considered to be a member of the Incumbent Board; (iii) the stockholders of the Company approve a merger or consolidation of the Company with any other corporation, other than (A) a merger or
consolidation which 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 the surviving entity) more than
50% of the combined voting power of the voting securities of the Company or such surviving entity outstanding immediately after such merger or consolidation or (B) a merger or consolidation effected to implement a recapitalization of the Company (or
similar transaction) in which no “person” (as defined above) acquires more than 20% of the combined voting power of the Company’s then outstanding securities; or (iv) the stockholders of the Company approve a plan of complete
liquidation of the Company. 
  
 (c) A “Stock Plan” of the Company shall mean 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 1997, the 1997 Non-statutory Stock Option Plan and the 2000 Equity Incentive Plan.

  
 5.    Term.    This Agreement shall continue in effect until
February 28, 2003, unless extended by the mutual written consent of the Company and Heppelmann. 
  
 6.    Successors. 
  
 (a) This Agreement is personal to Heppelmann and
without the prior written consent of the Company shall not be assignable by Heppelmann otherwise than by will or the laws of descent and distribution. 
  
 (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 as aforesaid which assumes and agrees to perform this Agreement. 
  
 7.    Miscellaneous. 

 
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 (a) This Agreement shall be governed by and construed in accordance with the laws
of the Commonwealth of Massachusetts, without reference to principles of conflict of laws. 
  
 (b) 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. 
  
 (c) 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 
 128 Technology Drive 

Waltham, MA 02453 
 Attention: Senior Vice President—General Counsel

  
 If to Heppelmann: 
 James E. Heppelmann 
 2 Ridge Road 
 Framingham, MA 01710 
  
 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 such overnight courier service, or three days following mailing by registered or certified mail. 

 
 EXECUTED as of the date first written above. 
  
  
 
	 PARAMETRIC TECHNOLOGY CORPORATION
 
	 
	 By:
 	 	 /s/    C. RICHARD
HARRISON        
 

	  	 	 C. Richard Harrison
 
	  	 	 President and Chief Executive Officer
 

 
  
 
	  
	 
	  	 	 /s/    JAMES E.
HEPPELMANN        
 

	  	 	 James E. Heppelmann
 

 

 
 4RESTATED AMEND #8 TO CONSULTING AGMT - PORTER

  
 EXHIBIT 10.22 
  
 RESTATED AMENDMENT #8 TO 
 CONSULTING AGREEMENT 
  
 This Restated Amendment #8 to Consulting Agreement, dated as of December 31, 2002, hereby amends the terms of that certain Consulting
Agreement dated November 17, 1995, as amended, (hereinafter “Consulting Agreement”) by and between Parametric Technology Corporation, a Massachusetts corporation, having its principal business address at 140 Kendrick Street, Needham,
Massachusetts 02494 (hereinafter “PTC”) and Michael E. Porter, an individual currently residing at 44 Green Hill Road, Brookline, Massachusetts 02146 (hereinafter “Consultant”). 
  
 Article 3 Services To Be Performed By Consultant, is hereby amended by adding the following Section 3.8: 
  

	 	3.8
	 
	Consultant is engaged pursuant to this Amendment #8 to Consulting Agreement, to participate in two (2) top management seminars (i.e. Chief Information Officer
(CIO) seminar) consistent with the purposes and scope which Consultant was previously engaged to provide under Article 3 of the Consulting Agreement. 
 

  
 Article 4 Compensation And Expenses, is hereby amended by adding the following Section 4.9: 
  

	 	4.9
	 
	Compensation for services to be performed under Section 3.8. In connection with those services to be performed pursuant to Amendment #8 to Consulting
Agreement (as described in Section 3.8 of the Consulting Agreement), Consultant shall receive: (i) an option to purchase 30,000 shares of PTC’s common stock, $.01 par value per share, under the terms of the Stock Option Agreement dated
September 19, 2002 between PTC and the Consultant (a copy of which is attached hereto) and (ii) $15,000 for each top management seminar in which Consultant participates under Section 3.8. 
 

  
 Previous Amendment #8 Superceded: The parties agree that this Restated Amendment #8 to Consulting Agreement supercedes and replaces, in its entirety, that
certain Amendment #8 to Consulting Agreement entered into as of September 19, 2002. 
  
 IN WITNESS WHEREOF, the
parties have executed this Restated Amendment #8 to Consulting Agreement as of the date and year first above written. 
  
 
	 Consultant
 	 	  	 	 Parametric Technology Corporation
 
	 
	 /s/    Michael E. Porter
 
	 	  	 	 /s/    C. Richard Harrison
 

	 Michael E. Porter
 	 	  	 	 C. Richard Harrison
 President and Chief Executive Officer
 

 

  
 
	 No. 049330
 	 	 30,000 Shares
 

 
  
 PARAMETRIC TECHNOLOGY CORPORATION 
 2000 Equity Incentive Plan 
  
 Nonstatutory Stock
Option Certificate 
  
 Parametric Technology Corporation (the “Company”), a Massachusetts corporation,
hereby grants to the person named below an option to purchase shares of Common Stock, $0.01 par value, of the Company (the “Option”) under and subject to the Company’s 2000 Equity Incentive Plan (the “Plan”) exercisable on
the terms and conditions set forth below and those attached hereto and in the Plan: 
  
 
	 Name of Optionholder:
 	 	 Michael E. Porter
 
	  	 	  
	 Social Security Number
 	 	  
	  	 	  
	 Number of Shares:
 	 	 30,000
 
	  	 	  
	 Option Price:
 	 	 $ 2.10
 
	  	 	  
	 Date of Grant:
 	 	 September 19, 2002
 
	  	 	  
	 Expiration:
 	 	 September 19, 2007
 
	  	 	  
	 Exercisability Schedule:
 	 	  

 
  
 on or
after        September 19, 2002, as to 50% of the shares, 
 on or
after        March 19, 2003, as to 50% of the shares, 
  
 provided that Optionholder’s
consulting agreement with the Company is not terminated earlier, in which event the Option, (i) to the extent exercisable at the date of such termination, may not be exercised as to any shares after the expiration of seven (7) months from the date
of such termination, and (ii) to the extent not exercisable at the date of such termination, shall be canceled as to any such shares effective on the date of such termination. 
  
 This Option shall not be treated as an Incentive Stock Option under section 422 of the Internal Revenue Code of 1986, as amended (the “Code”). 

 
 By acceptance of this Option, the Optionholder agrees to the terms and conditions set forth above and those attached hereto and
in the Plan. 
  
 
	 OPTIONHOLDER
 	 	  	 	 PARAMETRIC TECHNOLOGY CORPORATION
 
	 
	 By:
 	 	 /s/    MICHAEL E.
PORTER        
 
	 	  	 	 By:
 	 	 /s/    C. RICHARD
HARRISON        
 

	  	 	 Michael E. Porter
 	 	  	 	  	 	 Name:   C. Richard Harrison
 Title:     President and Chief Executive Officer
 

 
  

 PARAMETRIC TECHNOLOGY CORPORATION 2000 EQUITY INCENTIVE PLAN 
  
 Nonstatutory Stock Option Terms And Conditions 
  
 1.    Plan Incorporated by Reference.    This Option is issued pursuant to the terms of the Plan and may be amended as provided in the Plan. Capitalized terms used and not otherwise
defined in this certificate have the meanings given to them in the Plan. This certificate does not set forth all of the terms and conditions of the Plan, which are incorporated herein by reference. The Committee administers the Plan and its
determinations regarding the operation of the Plan are final and binding. Copies of the Plan may be obtained upon written request without charge from the Legal Department of the Company. 
  
 2.    Option Price.    The price to be paid for each share of Common Stock issued upon exercise of the whole or any part of
this Option is the Option Price set forth on the face of this certificate. 
  
 3.    
Exercisability Schedule.    This Option may be exercised at any time and from time to time for the number of shares and in accordance with the exercisability schedule set forth on the face of this certificate, but only for
the purchase of whole shares. This Option may not be exercised as to any shares after the Expiration Date. This Option may be terminated by the Company before the Expiration Date as permitted by the Plan. 
  
 4.    Method of Exercise.    To exercise this Option, the Optionholder shall deliver
written notice of exercise to the Company specifying the number of shares with respect to which the Option is being exercised accompanied by payment of the Option Price for such shares in cash, by certified check or in such other form, including, to
the extent then permitted by the Committee, shares of Common Stock of the Company valued at their Fair Market Value on the date of delivery or a payment commitment of a financial or brokerage institution, as the Committee may approve. Promptly
following such notice, the Company will deliver to the Optionholder a certificate representing the number of shares with respect to which the Option is being exercised. 
  
 5.    No Right To Employment.    No person shall have any claim or right to be granted an Option. Each employee of the
Company or any of its Affiliates is an employee-at-will (that is to say that either the Participant or the Company or any Affiliate may terminate the employment relationship at any time for any reason or no reason at all) unless, and only to the
extent, provided in a written employment agreement for a specified term executed by the chief executive officer of the Company or his duly authorized designee or the authorized signatory of any Affiliate. Neither the adoption, maintenance, nor
operation of the Plan nor any Option hereunder shall confer upon any employee of the Company or of any Affiliate any right with respect to the continuance of his/her employment by the Company or any such Affiliate nor shall they interfere with the
right of the Company (or Affiliate) to terminate any employee at any time or otherwise change the terms of employment, including, without limitation, the right to promote, demote or otherwise re-assign any employee from one position to another
within the Company or any Affiliate. 
  
 6.    Effect of
Grant.    Optionholder shall not earn any Options granted hereunder until such time as all the conditions set forth herein and in the Plan which are required to be met in order to exercise the Option have been fully
satisfied. 
  
 7.    Change of Control.    In order to preserve the
Optionholder’s rights under the Option in the event of a change in control of the Company (as defined by the Committee), the Committee in its discretion may at any time take one or more of the following actions: (i) provide for the acceleration
of any time period relating to the exercise of the Option, (ii) provide for payment to the Optionholder of cash or other property with a Fair Market Value equal to the amount that would have been received upon the exercise or payment of the Option
had the Option been exercised or paid upon the change in control, (iii) adjust the terms of the Option in a manner determined by the Committee to reflect the change in control, (iv) cause the Option to be assumed, or new rights substituted therefor,
by another entity, or (v) make such other provision as the Committee may consider equitable to Optionholder and in the best interests of the Company. 
  
 8.    Option Not Transferable.    This Option is not transferable by the Optionholder other than by will or the laws of descent and distribution, and is
exercisable, during the Optionholder’s lifetime, only by the Optionholder. The naming of a Designated Beneficiary does not constitute a transfer. 
  
 9.    Termination of Employment or Engagement.    If the Optionholder’s status as an employee or consultant of (a) the Company, (b) an Affiliate, or
(c) a corporation (or parent or subsidiary corporation of such corporation) issuing or assuming a stock option in a transaction to which section 424(a) of the Code applies, is terminated for any reason (voluntary or involuntary), (i) this Option
shall not thereafter become exercisable as to any additional shares and (ii) if the period of exercisability for this Option following 

 
such termination has not been specified by the Board, the vested portion of this Option shall remain exercisable (to the extent not previously exercised) for ninety (90) calendar days after the
day on which the Participant’s employment or engagement is terminated, whereupon this Option shall terminate; except that 
  
 (a)    If the Participant is on military, sick leave or other leave of absence approved by the Company, his or her employment or engagement with the Company will be treated as
continuing intact if the period of such leave does not exceed ninety (90) days, or, if longer, so long as the Participant’s right to reemployment or the survival of his or her service arrangement with the Company is guaranteed either by statute
or by contract; otherwise, the Participant’s employment or engagement will be deemed to have terminated on the 91st day of such leave. 
  
 (b)    If the Participant’s employment is terminated by reason of his or her retirement from the Company at normal retirement age, each Option then held by the Participant, to
the extent exercisable at retirement, may be exercised by the Participant at any time within three (3) months after such retirement unless terminated earlier by its terms. 
  
 (c)    If the Participant’s employment or engagement is terminated by reason of his or her death, each Option then held by the Participant, to the
extent exercisable at the date of death, may be exercised at any time within one year after that date (unless terminated earlier by its terms) by the person(s) to whom the Participant’s option rights pass by will or by the applicable laws of
descent and distribution. 
  
 (d)    If the Participant’s employment or engagement is
terminated by reason of his or her becoming permanently and totally disabled, each Option then held by the Participant, to the extent exercisable upon the occurrence of permanent and total disability, may be exercised by the Participant at any time
within one (1) year after such occurrence unless terminated earlier by its terms. For purposes hereof, an individual shall be deemed to be “permanently and totally disabled” if he or she is unable to engage in any substantial gainful
activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or which has lasted or can be expected to last for a continuous period of not less than twelve (12) months. Any determination of
permanent and total disability shall be made in good faith by the Company on the basis of a report signed by a qualified physician. 
  
 10.    Compliance with Securities Laws.    It shall be a condition to the Optionholder’s right to purchase shares of Common Stock hereunder that the Company may, in its
discretion, require (a) that the shares of Common Stock reserved for issuance upon the exercise of this Option shall have been duly listed, upon official notice of issuance, upon any national securities exchange or automated quotation system on
which the Company’s Common Stock may then be listed or quoted, (b) that either (i) a registration statement under the Securities Act of 1933 with respect to the shares shall be in effect, or (ii) in the opinion of counsel for the Company, the
proposed purchase shall be exempt from registration under that Act and the Optionholder shall have made such undertakings and agreements with the Company as the Company may reasonably require, and (c) that such other steps, if any, as counsel for
the Company shall consider necessary to comply with any law applicable to the issue of such shares by the Company shall have been taken by the Company or the Optionholder, or both. The certificates representing the shares purchased under this Option
may contain such legends as counsel for the Company shall consider necessary to comply with any applicable law. 
  
 11.    Payment of Taxes.    The Optionholder shall pay to the Company, or make provision satisfactory to the Committee for payment of, any taxes required by law to be withheld with
respect to the exercise of the Option no later than the date of the event creating the tax liability. The Company and its Affiliates may, to the extent permitted by law, deduct any such tax obligations from any payment of any kind due to the
Optionholder. In the Committee’s discretion, the minimum tax obligations required by law to be withheld with respect to the exercise of the Option may be paid in whole or in part in shares of Common Stock, including shares retained from the
exercise of the Option, valued at their Fair Market Value on the date of retention. 
  
 Adopted: February 10, 2000

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