Document:

Exhibit 10.10

ASPEN TECHNOLOGY,
INC.

Restricted Stock Unit Agreement - G

Granted Under 2005 Stock Incentive Plan

1.   Grant of Award.

This Agreement evidences the grant by Aspen
Technology, a Delaware corporation (the “Company”) on ___________, 200 
(the “Grant Date”) to ____________  (the “Participant”)
of ________ restricted stock units of the Company (individually, an “RSU” and
collectively, the “RSUs”) on the terms provided herein and in the Company’s
2005 Stock Incentive Plan (the “Plan”). Each RSU represents the right to
receive one share of the common stock, $0.10 par value per share, of the
Company (“Common Stock”) as provided in this Agreement. The shares of Common
Stock that are issuable upon vesting of the RSUs are referred to in this
Agreement as “Shares.”

2.   Vesting;
Forfeiture.

(a)    This award
shall not begin to vest unless the Company is profitable for its fiscal year
ending on June 30, 2007; if the Company is not profitable for such period,
this award shall be null and void. This award shall vest as to 25% of the
original number of RSUs on the date upon which the earnings for such fiscal
year are announced (the “First Vesting Date”) and as to an additional 6.25% of
the original number of RSUs on the 20th business day of each fiscal quarter thereafter
until this award is fully vested on the third anniversary of the First Vesting
Date (the “Final Vesting Date”).

(b)   Except as
otherwise provided in the Plan, by the Board of Directors or pursuant to
agreement between the Company and the Participant, if the Participant’s
employment with the Company terminates for any reason, any portion of this
award that is not vested as of the date of such termination shall be forfeited.
For purposes of this Agreement, employment with the Company shall include
employment with a parent or subsidiary of the Company.

3.   Distribution
of Shares.

(a)    The
Company will distribute to the Participant (or to the Participant’s estate in
the event that his or her death occurs after a vesting date but before
distribution of the corresponding Shares), as soon as administratively practicable
after each vesting date (each such date of distribution hereinafter referred to
as a “Settlement Date”), all of the vested Shares of Common Stock represented
by RSUs that vested before the Settlement Date; provided, that if the
Participant shall have made a Deferral Election offered by the Company, such
distribution and Settlement Date shall occur in accordance with such Deferral
Election. If a Settlement Date occurs during a period during which the
Participant may not trade in securities of the Company because the Company’s
insider trading policy imposes a trading blackout on the Participant, then the
Settlement Date shall be delayed until such trading blackout has ended.

(b)   The Company
shall not be obligated to issue to the Participant the Shares upon the vesting
of any RSU (or otherwise) unless the issuance and delivery of such Shares shall
comply with all relevant provisions of law and other legal requirements
including, without limitation, any applicable federal or state securities laws
and the requirements of any stock exchange upon which shares of Common Stock
may then be listed.

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4.   Restrictions on Transfer.

The Participant shall not sell, assign, transfer,
pledge, hypothecate or otherwise dispose of, by operation of law or otherwise
(collectively “transfer”) any RSUs, or any interest therein, except by will or
the laws of descent and distribution.

5.   Dividend and Other Shareholder Rights.

Except as set forth in the Plan, neither the
Participant nor any person claiming under or through the Participant shall be,
or have any rights or privileges of, a stockholder of the Company in respect of
the Shares issuable pursuant to the RSUs granted hereunder until the Shares
have been delivered to the Participant.

6.   Provisions of the Plan; Reorganization Event; Change in Control
Event.

This Agreement is subject to the provisions of the
Plan, a copy of which is furnished to the Participant with this Agreement.

7.   Withholding
Taxes; Section 83(b) Election.

(a)    No Shares
will be delivered pursuant to the vesting of an RSU unless and until the
Participant pays to the Company, or makes provision satisfactory to the Company
for payment of, any federal, state or local withholding taxes required by law
to be withheld in respect of this option. To satisfy any such tax obligation,
the Company shall (unless otherwise instructed by the Participant) deduct and
retain from the Shares to be distributed upon the Settlement Date such number
of Shares as is equal in value to the Company’s minimum statutory withholding
obligations with respect to the income recognized by the Participant upon the
lapse of the forfeiture provisions (based on minimum statutory withholding
rates for federal and state tax purposes, including payroll taxes, that are
applicable to such income), and pay the required amounts to the relevant taxing
authorities.

(b)   The
Participant acknowledges that no election under Section 83(b) of the
Internal Revenue Code of 1986 may be filed with respect to this award.

8.   Miscellaneous.

(a)   No Rights to Employment.   The
Participant acknowledges and agrees that the vesting of the RSUs pursuant to Section 2
hereof is earned only by the achievement by the Company of the results set
forth in Section 2(a) above and continuing service thereafter as an
employee at the will of the Company (not through the act of being hired). The
Participant further acknowledges and agrees that the transactions contemplated
hereunder and the vesting schedule set forth herein do not constitute an express
or implied promise of continued engagement as an employee or consultant for the
vesting period, for any period, or at all.

(b)   Severability.   The
invalidity or unenforceability of any provision of this Agreement shall not
affect the validity or enforceability of any other provision of this Agreement,
and each other provision of this Agreement shall be severable and enforceable
to the extent permitted by law.

(c)   Waiver.   Any
provision for the benefit of the Company contained in this Agreement may be
waived, either generally or in any particular instance, by the Board of
Directors of the Company.

(d)   Binding   Effect.   This
Agreement shall be binding upon and inure to the benefit of the Company and the
Participant and their respective heirs, executors, administrators, legal
representatives, successors and assigns, subject to the restrictions on
transfer set forth in Section 4 of this Agreement.

(e)   Notice.   All notices
required or permitted hereunder shall be in writing and deemed effectively
given upon personal delivery or five days after deposit in the United States
Post Office, by registered or certified mail, postage prepaid, addressed to the
other party hereto at the address shown 

beneath his or its
respective signature to this Agreement, or at such other address or addresses
as either party shall designate to the other in accordance with this Section 8(e).

(f)   Pronouns.   Whenever
the context may require, any pronouns used in this Agreement shall include the
corresponding masculine, feminine or neuter forms, and the singular form of
nouns and pronouns shall include the plural, and vice versa.

(g)   Entire Agreement.   This
Agreement and the Plan constitute the entire agreement between the parties, and
supersedes all prior agreements and understandings, relating to the subject
matter of this Agreement.

(h)   Amendment.   This
Agreement may be amended or modified only by a written instrument executed by
both the Company and the Participant.

(i)   Governing Law.   This
Agreement shall be construed, interpreted and enforced in accordance with the
internal laws of the State of Delaware, USA without regard to any applicable
conflicts of laws.

(j)   Participant’s Acknowledgments.   The
Participant acknowledges that he or she: (i) has read this Agreement; (ii) understands
the terms and consequences of this Agreement; and (iii) is fully aware of
the legal and binding effect of this Agreement.

(k)   Unfunded Rights.   The
right of the Participant to receive Common Stock pursuant to this Agreement is
an unfunded and unsecured obligation of the Company. The Participant shall have
no rights under this Agreement other than those of an unsecured general
creditor of the Company.

(l)   Section 409A.   Payments
under this Agreement are intended to be exempt from, or comply with, the
provisions of Section 409A of the Internal Revenue Code of 1986 (“Section 409A”)
and this Agreement shall be administered and construed accordingly. If any
payment, compensation or other benefit provided to the Executive in connection
with his employment termination is determined, in whole or in part, to
constitute “nonqualified deferred compensation” within the meaning of Section 409A
and the Executive is a specified employee as defined in Section 409A(2)(B)(i),
no part of such payments shall be paid before the day that is six (6) months
plus one (1) day after the date of termination (the “New Payment Date”). The
aggregate of any payments that otherwise would have been paid to the Executive
during the period between the date of termination and the New Payment Date
shall be paid to the Executive in a lump sum on such New Payment Date.  

By accepting this grant
online, I hereby acknowledge receipt and agree to the terms of this Restricted
Stock Unit issued to me under the 2005 Stock Incentive Plan.

	
  

  	
  ASPEN TECHNOLOGY, INC.

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Title:Exhibit 10.11

EXPLANATORY
NOTE

On September 26, 2006, Aspen Technology, Inc. entered into executive
retention agreements with the following executive officers.

	
  Frederic G. Hammond

  
	
  Manolis E. Kotzabasakis

  
	
  Bradley T. Miller

  
	
  C. Steven Pringle

  
	
  Blair F. Wheeler

  

Each of the several
executive retention agreements is identical to the form provided below, except
that each executed agreement includes the name and address of the executive
officer party thereto.

CONFIDENTIAL

ASPEN TECHNOLOGY,
INC.

Executive Retention Agreement

THIS EXECUTIVE RETENTION AGREEMENT by and between
Aspen Technology, Inc., a Delaware corporation (the “Company”), and                                   
(the “Executive”) is made as of September 26, 2006 (the “Effective Date”).

WHEREAS, the Company considers the establishment and
maintenance of a sound and vital management to be essential to protecting and
enhancing the best interests of the Company and its stockholders;

WHEREAS, the Company recognizes that, as is the case
with many publicly-held corporations, the possibility of a change in control of
the Company exists and that such possibility, and the uncertainty and questions
which it may raise among key personnel, may result in the departure or
distraction of key personnel to the detriment of the Company and its
stockholders, and

WHEREAS, the Board of Directors of the Company (the “Board”)
has determined that it is in the best interests of the Company that appropriate
steps should be taken to reinforce and encourage the continued employment and
dedication of the Company’s key personnel without distraction, including
distraction from the possibility of a change in control of the Company and
related events and circumstances.

NOW, THEREFORE, as an inducement for and in
consideration of the Executive remaining in its employ, the Company agrees that
the Executive shall receive the severance benefits set forth in this Agreement
in the event the Executive’s employment with the Company is terminated under
the circumstances described below.

1.     Key Definitions.

As used herein, the following terms shall have the
following respective meanings:

1.1           “Change in
Control” means an event or occurrence set forth in any one or more of
subsections (a) through (d) below (including an event or occurrence that
constitutes a Change in Control under one of such subsections but is
specifically exempted from another such subsection):

(a)           the acquisition by an individual, entity or group (within
the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act) (a “Person”)
of beneficial ownership of any capital stock of the Company if, after such
acquisition, such Person beneficially owns (within the meaning of Rule 13d-3
promulgated under the Exchange Act) 50% or more of either (x) the then-outstanding
shares of common stock of the Company (the “Outstanding Company Common Stock”)
or (y) the combined voting power of the then-outstanding securities of
the Company entitled to vote generally in the election of directors (the “Outstanding
Company Voting Securities”); provided that for purposes of this subsection (1),
the following acquisitions shall not constitute a Change in Control Event:  (I) any acquisition 

 

directly from the Company (excluding an acquisition
pursuant to the exercise, conversion or exchange of any security exercisable
for, convertible into or exchangeable for common stock or voting securities of
the Company, unless the Person exercising, converting or exchanging such
security acquired such security directly from the Company or an underwriter or
agent of the Company), (II) any acquisition by any employee benefit plan (or
related trust) sponsored or maintained by the Company or any corporation
controlled by the Company or (III) any acquisition by any corporation pursuant
to a Business Combination (as defined below) that complies with clauses (x) and
(y) of Section 9(b)(i)(B)(3); or

(b)           such
time as the Continuing Directors (as defined below) do not constitute a
majority of the Board (or, if applicable, the Board of Directors of a successor
corporation to the Company), where the term “Continuing Director” means at any
date a member of the Board (x) who was a member of the Board on the date of the
initial adoption of this Plan by the Board or (y) who was nominated or elected
subsequent to such date by at least a majority of the directors who were
Continuing Directors at the time of such nomination or election or whose
election to the Board was recommended or endorsed by at least a majority of the
directors who were Continuing Directors at the time of such nomination or
election, provided that there shall be excluded from this clause (y) any
individual whose initial assumption of office occurred as a result of an actual
or threatened election contest with respect to the election or removal of
directors or other actual or threatened solicitation of proxies or consents, by
or on behalf of a person other than the Board; or

(c)           the
consummation of a merger, consolidation, reorganization, recapitalization or
share exchange involving the Company or a sale or other disposition of all or
substantially all of the assets of the Company (a “Business Combination”),
unless, immediately following such Business Combination, each of the following
two conditions is satisfied:  (x) all or
substantially all of the individuals and entities who were the beneficial
owners of the Outstanding Company Common Stock and Outstanding Company Voting
Securities immediately prior to such Business Combination beneficially own,
directly or indirectly, more than 50% of the then-outstanding shares of common
stock and the combined voting power of the then-outstanding securities entitled
to vote generally in the election of directors, respectively, of the resulting
or acquiring corporation in such Business Combination (which shall include a
corporation that as a result of such transaction owns the Company or
substantially all of the Company’s assets either directly or through one or
more subsidiaries) (such resulting or acquiring corporation is referred to herein
as the “Acquiring Corporation”) in substantially the same proportions as their
ownership of the Outstanding Company Common Stock and Outstanding Company
Voting Securities, respectively, immediately prior to such Business
Combination, excluding for all purposes of this clause (x) any shares of common
stock or other securities of the Acquiring Corporation attributable to any such
individual’s or entity’s ownership of securities other than Outstanding Company
Common Stock or Outstanding Company Voting Securities immediately prior to the
Business Combination); and (y) no Person (excluding the Acquiring Corporation
or any employee benefit plan (or related trust) maintained or sponsored by the
Company or by the Acquiring Corporation) beneficially owns, directly or
indirectly, 50% or more of the then-outstanding shares of common stock of the
Acquiring Corporation, or of the combined voting power of the then-outstanding
securities of such corporation entitled to vote generally in the election of
directors (except to the extent that such ownership existed prior to the
Business Combination); or

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(d)           the
liquidation or dissolution of the Company.

1.2           “Change in
Control Date” means the first date during the Term (as defined in
Section 2) on which a Change in Control occurs.  Anything in this Agreement to the contrary
notwithstanding, if (a) a Change in Control occurs, or shall have been
announced or agreed to, (b)  the Executive’s employment with the Company
is subsequently terminated, and (c) if the date of termination is prior to
the date of the actual or scheduled Change of Control, it is reasonably
demonstrated by the Executive that such termination of employment (i) was at
the request of a third party who has taken steps reasonably designed to effect
a Change in Control or (ii) otherwise arose in connection with or in
anticipation of a Change in Control, such as, for example, as a condition
thereto or in connection with cost reduction or elimination of duplicate
positions, then for all purposes of this Agreement the “Change in Control Date”
shall mean the date immediately prior to the date of such termination of
employment.

1.3           “Cause”
means:

(a)           the
Executive’s willful and continued failure to substantially perform the
Executive’s reasonable assigned duties (other than any such failure resulting
from incapacity due to physical or mental illness or any failure after the
Executive gives notice of termination for Good Reason), which failure is not
cured within 30 days after a written notice and demand for substantial performance
is received by the Executive from the Board of Directors of the Company which
specifically identifies the manner in which the Board of Directors believes the
Executive has not substantially performed the Executive’s duties; or

(b)           the
Executive’s willful engagement in illegal conduct or gross misconduct which is
materially and demonstrably injurious to the Company.

For purposes of this Section 1.3, no act or failure to
act by the Executive shall be considered “willful” unless it is done, or omitted
to be done, in bad faith and without reasonable belief that the Executive’s
action or omission was in the best interests of the Company.

1.4           “Good Reason”
means the occurrence, without the Executive’s prior written consent, of any of
the events or circumstances set forth in clauses (a) through (g) below.  Notwithstanding the occurrence of any such
event or circumstance, such occurrence shall not be deemed to constitute Good
Reason if, prior to the Date of Termination specified in the Notice of
Termination (each as defined in Section 3) given by the Executive in
respect thereof, such event or circumstance has been fully corrected and the
Executive has been reasonably compensated for any losses or damages resulting
therefrom (provided that such right of correction by the Company shall apply
only with respect to the first Notice of Termination for Good Reason given by
the Executive).

(a)           the
assignment to the Executive of duties inconsistent in any material respect with
the Executive’s position (including status, offices, titles and reporting
requirements), authority or responsibilities in effect immediately prior to the
earliest to occur of (i) the Change in Control Date, (ii) the date of
the execution by the Company of the initial written agreement or instrument
providing for the Change in Control or (iii) the date of the adoption by
the Board of Directors of a resolution providing for the Change in Control
(with the 

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earliest to occur of such dates referred to herein as
the “Measurement Date”), or any other action or omission by the Company which
results in a material diminution in such position, authority or
responsibilities;

(b)           a
reduction in the Executive’s annual base salary as in effect on the Measurement
Date or as the same was or may be increased thereafter from time to time;

(c)           the
failure by the Company to (i) continue in effect any material compensation or
benefit plan or program (including without limitation any life insurance,
medical, health and accident or disability plan and any vacation program or
policy) (a “Benefit Plan”) in which the Executive participates or which is
applicable to the Executive immediately prior to the Measurement Date, unless
an equitable arrangement (embodied in an ongoing substitute or alternative
plan) has been made with respect to such plan or program, (ii) continue the
Executive’s participation therein (or in such substitute or alternative plan)
on a basis not materially less favorable, both in terms of the amount of
benefits provided and the level of the Executive’s participation relative to
other participants, than the basis existing immediately prior to the
Measurement Date or (iii) award cash bonuses to the Executive in amounts and in
a manner substantially consistent with past practice in light of the Company’s
financial performance;

(d)           a
change by the Company in the location at which the Executive performs the
Executive’s principal duties for the Company to a new location that is both (i)
outside a radius of 40 miles from the Executive’s principal residence immediately
prior to the Measurement Date and (ii) more than 30 miles from the location at
which the Executive performed the Executive’s principal duties for the Company
immediately prior to the Measurement Date; or a requirement by the Company that
the Executive travel on Company business to a substantially greater extent than
required immediately prior to the Measurement Date;

(e)           the
failure of the Company to obtain the agreement from any successor to the
Company to assume and agree to perform this Agreement, as required by Section
6.1;

(f)            a
purported termination of the Executive’s employment which is not effected
pursuant to a Notice of Termination satisfying the requirements of
Section 3; or

(g)           any
failure of the Company to pay or provide to the Executive any portion of the
Executive’s compensation or benefits due under any Benefit Plan within seven
days of the date such compensation or benefits are due, or any material breach
by the Company of this Agreement or any employment agreement with the Executive.

For purposes of this Agreement, any claim of “Good
Reason” made by the Executive shall be presumed to be correct unless the
Company establishes by clear and convincing evidence that Good Reason does not
exist. The Executive’s right to terminate the Executive’s employment for Good
Reason shall not be affected by the Executive’s incapacity due to physical or
mental illness.

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1.5           “Disability”
means the Executive’s absence from the full-time performance of the Executive’s
duties with the Company for 180 consecutive calendar days as a result of
incapacity due to mental or physical illness which is determined to be total
and permanent by a physician selected by the Company or its insurers and
acceptable to the Executive or the Executive’s legal representative.

2.     Term of Agreement.  This Agreement shall take effect upon the
Effective Date and shall expire upon the first to occur of (a) the expiration
of the Term (as defined below) if a Change in Control has not occurred during
the Term, (b) the date 12 months after the Change in Control Date, if the
Executive is still employed by the Company as of such later date, or (c) the
fulfillment by the Company of all of its obligations under Sections 4 and
5.2 and 5.3 if the Executive’s employment
with the Company terminates during the term or within 12 months following the
Change in Control Date.  “Term” shall
mean the period commencing as of the Effective Date and continuing in effect
through July 31, 2007; provided, however, that commencing on August 1, 2007 and each August 1 thereafter, the Term shall be
automatically extended for one additional year unless, not later than seven
days prior to the scheduled expiration of the Term (or any extension thereof),
the Company shall have given the Executive written notice that the Term will
not be extended.

3.     Termination.

3.1           Any termination of
the Executive’s employment by the Company or by the Executive (other than due
to the death of the Executive) shall be communicated by a written notice to the
other party hereto (the “Notice of Termination”), given in accordance with
Section 7.  Any Notice of
Termination shall: (i) indicate the specific termination provision (if any) of
this Agreement relied upon by the party giving such notice, (ii) to the extent
applicable, set forth in reasonable detail the facts and circumstances claimed
to provide a basis for termination of the Executive’s employment under the
provision so indicated and (iii) specify the Date of Termination (as defined
below).  The effective date of an
employment termination (the “Date of Termination”) shall be the close of
business on the date specified in the Notice of Termination (which date may not
be less than 30 days or more than 120 days after the date of delivery of such
Notice of Termination), in the case of a termination other than one due to the
Executive’s death, or the date of the Executive’s death, as the case may
be.  In the event the Company fails to
satisfy the requirements of Section 3 regarding a Notice of Termination, the
purported termination of the Executive’s employment pursuant to such Notice of
Termination shall not be effective for purposes of this Agreement.

3.2           The
failure by the Executive or the Company to set forth in the Notice of
Termination any fact or circumstance which contributes to a showing of Good
Reason or Cause shall not waive any right of the Executive or the Company,
respectively, hereunder or preclude the Executive or the Company, respectively,
from asserting any such fact or circumstance in enforcing the Executive’s or
the Company’s rights hereunder.

3.3           Any
Notice of Termination for Cause given by the Company must be given within 30
days of the occurrence of the event(s) or circumstance(s) which constitute(s)
Cause.  Prior to any Notice of
Termination for Cause being given (and prior to any termination for Cause being
effective), the Executive shall be entitled to a hearing before the Board of 

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Directors of the Company at which [he/she] may, at the Executive’s election, be represented by
counsel and at which [he/she] shall have a reasonable opportunity to be heard.  Such hearing shall be held on not less than
15 days prior written notice to the Executive stating the Board of Directors’
intention to terminate the Executive for Cause and stating in detail the
particular event(s) or circumstance(s) which the Board of Directors believes
constitutes Cause for termination.  Any
such Notice of Termination for Cause must be approved by an affirmative vote of
at least two-thirds of the members of the Board of Directors.

4.     Benefits to Executive.  If no Change in Control Date shall have
occurred and Executive’s employment hereunder is terminated by the Company
without Cause, Executive shall be entitled to (i) severance pay for a period
beginning on the Date of Termination (as defined above) and ending 12 months
from such date (the “Severance Period”) equal to Executive’s then current base
salary, to be paid on the Company’s normal payroll cycle during the Severance
Period; provided that if any payments would otherwise be due on or after March 15
of the calendar year next succeeding the year in which termination occurs, then
all payments that would otherwise be due after March 15 shall be paid to the
Executive on or before March 15 of such next succeeding year; (ii)  a pro
rata portion of the Executive’s target bonus for the then-current fiscal year,
payable in a lump sum within 16 days of termination of employment; (iii) the
benefits set forth in Section 4.2 (a)(i)(3), and 4.2(a) (ii),(iii) and (iv)
below; and (iv)  the amount of any compensation previously deferred by the
Executive (together with any accrued interest or earnings thereon) and any
accrued vacation pay, in each case to the extent not previously paid.  For all purposes of this Agreement, the Executive’s
unused vacation time accrual shall carry over from year to year.

4.1           Change in
Control: If a Change in Control Date occurs, Executive shall be entitled to
the benefits set forth below:

4.2           Compensation and
Benefits.  If a Change in Control
Date occurs and the Executive’s employment with the Company terminates within
12 months following the Change in Control Date, the Executive shall be entitled
to the following benefits:

(a)           Termination
Without Cause or for Good Reason.  If
the Executive’s employment with the Company is terminated by the Company (other
than for Cause, Disability or death) or by the Executive for Good Reason within
12 months following the Change in Control Date, then the Executive shall be
entitled to the following benefits:

(i)            the
Company shall pay to the Executive in a lump sum in cash within 16 days after
the Date of Termination the aggregate of the following amounts:

(1)           the
sum of (A) the Executive’s base salary through the Date of Termination,
and (B) the amount of any compensation previously deferred by the Executive
(together with any accrued interest or earnings thereon) and any accrued
vacation pay, in each case to the extent not previously paid (the sum of the
amounts described in clauses (A), and (B) shall be hereinafter referred to as
the “Accrued Obligations”); and

(2)           the
sum of (A) one multiplied by the Executive’s annual base salary and
(B) the Executive’s target bonus for the then-current fiscal year.

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(3)           In lieu of any further life,
disability, and accident insurance benefits, the Company shall pay to the
Executive a lump sum amount, in cash, equal to the cost to the Executive of
providing such benefits, to the extent that the Executive is eligible to
receive such benefits immediately prior to the Notice of Termination, for a
period of 12 months commencing on the Date of Termination, and shall cause the
Executive to be able to enroll in the plans or to be continued to be enrolled
to the same extent as immediately prior to the Notice of Termination, for such
period.

(ii)           for
12 months after the Date of Termination, or such longer period as may be
provided by the terms of the appropriate plan, program, practice or policy, the
Company shall continue to pay or provide benefits to the Executive and the
Executive’s family at least equal to those which would have been provided to
them if the Executive’s employment had not been terminated, in accordance with
the applicable medical, dental and vision plans (“Benefit Plans”)  in effect on the Measurement Date or, if more
favorable to the Executive and the Executive’s family, in effect generally at
any time thereafter with respect to other peer executives of the Company and
its affiliated companies;

(iii)          to
the extent not previously paid or provided, the Company shall timely pay or
provide to the Executive any other amounts or benefits required to be paid or
provided or which the Executive is eligible to receive following the Executive’s
termination of employment under any plan, program, policy, practice, contract
or agreement of the Company and its affiliated companies (such other amounts
and benefits shall be hereinafter referred to as the “Other Benefits”); and

(iv)          for
purposes of determining eligibility (but not the time of commencement of
benefits) of the Executive for defined benefit pension/retiree benefits, if any,  to which the Executive is entitled, the
Executive shall be considered to have remained employed by the Company until 12
months after the Date of Termination. For the avoidance of doubt, the foregoing
shall not be deemed to include a 401(k) Plan or similar benefit.

(v)           (A) all
of the then-unvested options to purchase shares of stock of the Company held by
the Executive shall become fully vested and immediately exercisable in full,
and shares of the Company received upon exercise of any options will no longer
be subject to a right of repurchase by the Company, (b)  all of the
restricted stock then otherwise subject to repurchase by the Company shall be
deemed to be fully vested (i.e. no longer subject to a right of repurchase or
restriction by the Company), (c) all of the shares underlying restricted stock
units then otherwise subject to future grant or award shall be fully granted,
vested and distributed and no longer subject to a right of repurchase by the
Company or to any other performance conditions, and (c) all then-vested
and exercisable options (including for the avoidance of doubt the options
becoming exercisable pursuant to this paragraph) shall continue to be
exercisable by the Executive for a period of 12 months following the Date of
Termination.

(b)           Resignation without Good Reason; Termination for Death
or Disability.  If the Executive
voluntarily terminates the Executive’s employment with the Company within 12
months following the Change in Control Date, excluding a termination for Good
Reason, or if the Executive’s employment with the Company is terminated by
reason of 

 7
 

the Executive’s death or Disability within 12 months
following the Change in Control Date, then the Company shall (i) pay the
Executive (or the Executive’s estate, if applicable), in a lump sum in cash
within 30 days after the Date of Termination, the Accrued Obligations and
(ii) timely pay or provide to the Executive the Other Benefits.

(c)           Termination
for Cause.  If the Company terminates
the Executive’s employment with the Company for Cause within 12 months
following the Change in Control Date, then the Company shall (i) pay the
Executive, in a lump sum in cash within 30 days after the Date of Termination,
the sum of (A) the Executive’s annual base salary through the Date of Termination
and (B) the amount of any compensation previously deferred by the
Executive, in each case to the extent not previously paid, and (ii) timely
pay or provide to the Executive the Other Benefits.

4.3           Taxes.

(a)           Notwithstanding
any other provision of this Agreement, except as set forth in Section 4.3(b),
in the event that the Company undergoes a 
“Change in Ownership or Control” (as defined below), the Company shall
not be obligated to provide to the Executive a portion of any “Contingent
Compensation Payments” (as defined below) that the Executive would otherwise be
entitled to receive to the extent necessary to eliminate any “excess parachute
payments” (as defined in Section 280G(b)(1) of the Internal Revenue Code of
1986, as amended (the “Code”)) for the Executive.  For purposes of this Section 4.3, the
Contingent Compensation Payments so eliminated shall be referred to as the “Eliminated
Payments” and the aggregate amount determined in accordance with Treasury
Regulation Section 1.280G-1, Q/A-30 or any successor provision) of the
Contingent Compensation Payments so eliminated shall be referred to as the “Eliminated
Amount.”

(b)           Notwithstanding the provisions of Section 4.3(a), no such
reduction in Contingent Compensation Payments shall be made if (i) the
Eliminated Amount (computed without regard to this sentence) exceeds (ii) 110%
of the aggregate present value (determined in accordance with Treasury
Regulation Section 1.280G-1, Q/A-31 and Q/A-32 or any successor
provisions) of the amount of any additional taxes that would be incurred by the
Executive if the Eliminated Payments (determined without regard to this
sentence) were paid to [him/her] (including, state and federal income taxes on the
Eliminated Payments, the excise tax imposed by Section 4999 of the Code payable
with respect to all of the Contingent Compensation Payments in excess of the
Executive’s “base amount” (as defined in Section 280G(b)(3) of the Code), and
any withholding taxes).  The override of
such reduction in Contingent Compensation Payments pursuant to this
Section 4.3(b) shall be referred to as a “Section 4.3(b) Override.”  For purpose of this paragraph, if any federal
or state income taxes would be attributable to the receipt of any Eliminated
Payment, the amount of such taxes shall be computed by multiplying the amount
of the Eliminated Payment by the maximum combined federal and state income tax
rate provided by law.

(c)           For purposes of this Section 4.3 the following terms shall
have the following respective meanings:

 8
 

(i)            “Change in Ownership or Control” shall mean a change in
the ownership or effective control of the Company or in the ownership of a
substantial portion of the assets of the Company determined in accordance with
Section 280G(b)(2) of the Code.

(ii)           “Contingent Compensation Payment” shall mean any payment
(or benefit) in the nature of compensation that is made or made available
(under this Agreement or otherwise) to a “disqualified individual” (as defined
in Section 280G(c) of the Code) and that is contingent (within the meaning of
Section 280G(b)(2)(A)(i) of the Code) on a Change in Ownership or Control of
the Company.

(d)           Any payments or other benefits otherwise due to the
Executive following a Change in Ownership or Control that could reasonably be
characterized (as determined by the Company) as Contingent Compensation
Payments (the “Potential Payments”) shall not be made until the dates provided
for in this Section 4.3(d).  Within
10 days after each date on which the Executive first becomes entitled to receive
(whether or not then due) a Contingent Compensation Payment relating to such
Change in Ownership or Control, the Company shall determine and notify the
Executive (with reasonable detail regarding the basis for its determinations)
(i) which Potential Payments constitute Contingent Compensation Payments, (ii)
the Eliminated Amount and (iii) whether the Section 4.3(b) Override
is applicable.  Within 30 days after
delivery of such notice to the Executive, the Executive shall deliver a
response to the Company (the “Executive Response”) stating either (A) that [he/she] agrees with
the Company’s determination pursuant to the preceding sentence, in which case [he/she] shall
indicate, if applicable, which Contingent Compensation Payments, or portions
thereof (the aggregate amount of which, determined in accordance with Treasury
Regulation Section 1.280G-1, Q/A-30 or any successor provision, shall be equal
to the Eliminated Amount), shall be treated as Eliminated Payments or (B) that [he/she] disagrees
with such determination, in which case [he/she] shall set forth (i) which Potential Payments should be
characterized as Contingent Compensation Payments, (ii) the Eliminated Amount,
(iii) whether the Section 4.3(b) Override is applicable, and (iv) which
(if any) Contingent Compensation Payments, or portions thereof (the aggregate
amount of which, determined in accordance with Treasury Regulation Section
1.280G-1, Q/A-30 or any successor provision, shall be equal to the Eliminated
Amount, if any), shall be treated as Eliminated Payments.  If the Executive states in the Executive
Response that [he/she]
agrees with the Company’s determination, the Company shall make the Potential
Payments to the Executive within three business days following delivery to the
Company of the Executive Response (except for any Potential Payments which are
not due to be made until after such date, which Potential Payments shall be
made on the date on which they are due). 
If the Executive states in the Executive Response that [he/she] disagrees with
the Company’s determination, then, for a period of 10 days following delivery
of the Executive Response, the Executive and the Company shall use good faith
efforts to resolve such dispute.  If such
dispute is not resolved within such 10-day period, such dispute shall be
settled exclusively by arbitration in Boston, Massachusetts, in accordance with
the rules of the American Arbitration Association then in effect.  Judgment may be entered on the arbitrator’s
award in any court having jurisdiction. 
The Company shall, within three business days following delivery to the
Company of the Executive Response, make to the Executive those Potential
Payments as to which there is no dispute between the Company and the Executive
regarding whether they should be made (except for any such Potential Payments
which are not due to be made until after such date, which Potential Payments
shall be made on the date on which they are due).  The balance of the Potential 

 9
 

Payments shall be made within three business days
following the resolution of such dispute. 
Subject to the limitations contained in Sections 4.3(a) and (b) hereof,
the amount of any payments to be made to the Executive following the resolution
of such dispute shall be increased by amount of the accrued interest thereon
computed as set forth below.

(e)           The provisions of this Section 4.3 are intended to apply
to any and all payments or benefits available to the Executive under this
Agreement or any other agreement or plan of the Company under which the
Executive receives Contingent Compensation Payments.,

4.4           Mitigation.  For the avoidance of doubt, the Executive
shall not be required to mitigate the amount of any payment or benefits
provided for in this Section 4 by seeking other employment or otherwise.
Further, except as provided in Section 4.2(a)(ii), the amount of any payment or
benefits provided for in this Section 4 shall not be reduced by any
compensation earned by the Executive as a result of employment by another
employer, by retirement benefits, by offset against any amount claimed to be
owed by the Executive to the Company or otherwise.

4.5           Outplacement
Services.  In the event the Executive
is terminated by the Company (other than for Cause, Disability or death), or
the Executive terminates employment for Good Reason, within 12 months following
the Change in Control Date, the Company shall provide outplacement services
through one or more outside firms of the Executive’s choosing and reasonably
acceptable to the Company up to an aggregate of $45,000, with such services to
extend until the earlier of (i) 12 months following the termination of
Executive’s employment or (ii) the date the Executive secures full time
employment.

5.     Disputes; Expenses.

5.1           Disputes.  All claims by the Executive for benefits
under this Agreement shall be directed to and determined by the Board of
Directors of the Company and shall be in writing.  Any rejection by the Board of Directors of a
claim for benefits under this Agreement shall be delivered to the Executive in
writing and shall set forth the specific reasons for the rejection and the
specific provisions of this Agreement relied upon.

5.2           Expenses.  The Company agrees to pay as incurred, the
expenses of one law firm to review and negotiate this Agreement, and, to the
fullest extent permitted by law, all legal, accounting and other fees and
expenses which the Executive may reasonably incur as a result of any claim or
contest (regardless of the outcome thereof) by the Company, the Executive or
others regarding the validity or enforceability of, or liability under, any
provision of this Agreement or any guarantee of performance thereof (including
as a result of any contest by the Executive regarding the amount of any payment
or benefits pursuant to this Agreement), plus in each case interest on any
delayed payment at the applicable rate for prejudgment interest then in effect
in The Commonwealth of Massachusetts.

5.3           Compensation
During a Dispute.  If right of the
Executive to receive benefits under Section 4 (or the amount or nature of
the benefits to which [he/she] is entitled to receive) are the subject
of a dispute between the Company and the Executive, the Company shall 

 10
 

continue (a) to pay to the Executive the
Executive’s base salary in effect as of the Measurement Date and (b) to
provide benefits to the Executive and the Executive’s family at least equal to
those which would have been provided to them, if the Executive’s employment had
not been terminated, in accordance with the applicable Benefit Plans in effect
on the Measurement Date, until such dispute is resolved.  Following the resolution of such dispute, the
sum of the payments made to the Executive under clause (a) of this Section
5.3 shall be deducted from any cash payment which the Executive is entitled to
receive pursuant to Section 4; and if such sum exceeds the amount of the
cash payment which the Executive is entitled to receive pursuant to
Section 4, the excess of such sum over the amount of such payment shall be
repaid (without interest) by the Executive to the Company within 120 days of
the resolution of such dispute.

6.     Successors.

6.1           Successor
to Company.  The Company shall
require any successor (whether direct or indirect, by purchase, merger,
consolidation or otherwise) to all or substantially all of the business or
assets of the Company expressly to assume and agree to perform this Agreement
to the same extent that the Company would be required to perform it if no such
succession had taken place.  Failure of
the Company to obtain an assumption of this Agreement at or prior to the
effectiveness of any succession shall be a breach of this Agreement and shall
constitute Good Reason if the Executive elects to terminate employment, except
that for purposes of implementing the foregoing, the date on which any such
succession becomes effective shall be deemed the Date of Termination.  As used in this Agreement, “Company” shall
mean the Company as defined above and any successor to its business or assets
as aforesaid which assumes and agrees to perform this Agreement, by operation
of law or otherwise.

6.2           Successor
to Executive.  This Agreement shall
inure to the benefit of and be enforceable by the Executive’s personal or legal
representatives, executors, administrators, successors, heirs, distributees,
devisees and legatees.  If the Executive
should die while any amount would still be payable to the Executive or the
Executive’s family hereunder if the Executive had continued to live, all such
amounts, unless otherwise provided herein, shall be paid in accordance with the
terms of this Agreement to the executors, personal representatives or
administrators of the Executive’s estate.

7.     Notice.  All notices, instructions and other
communications given hereunder or in connection herewith shall be in
writing.  Any such notice, instruction or
communication shall be sent either (i) by registered or certified mail, return
receipt requested, postage prepaid, or (ii) prepaid via a reputable nationwide
overnight courier service, in each case addressed to the Company, at Aspen Technology,
Inc.; ATTN: General Counsel; Ten Canal Park; Cambridge MA 02141, and to the
Executive at the Executive’s address indicated on the signature page of this
Agreement (or to such other address as either the Company or the Executive may
have furnished to the other in writing in accordance herewith).  Any such notice, instruction or communication
shall be deemed to have been delivered five business days after it is sent by
registered or certified mail, return receipt requested, postage prepaid, or one
business day after it is sent via a reputable nationwide overnight courier
service. Either party may give any notice, instruction or other communication
hereunder using any other means, but no such notice, instruction or other
communication shall be deemed to have been duly delivered unless and until it
actually is received by the party for whom it is intended.

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8.     Miscellaneous.

8.1           Section
409A of the Code. If (a) any payment, compensation or other benefit
provided to the Executive in connection with his employment termination would
constitute, in whole or in part, “nonqualified deferred compensation” within
the meaning of Section 409A and (b) the Executive is a “specified employee”as
defined in Section 409A(2)(B)(i), the Company and the Executive shall use their
best efforts to the extent commercially reasonable to make an equitable
arrangement so as to carry out the intent of this Agreement to the fullest
extent possible such that such payment, etc. would not constitute “nonqualified
deferred compensation” and such that the Executive will receive equivalent
after tax economic benefits as are intended hereby; however, if, despite such
efforts, it would be impracticable or impossible to make such an arrangement,
then no part of such payments shall be paid before the day that is six (6)
months plus one (1) day after the date of termination (the “New Payment Date”).  The aggregate of any payments that otherwise
would have been paid to the Executive during the period between the date of
termination and the New Payment Date shall be paid to the Executive in a lump
sum on such New Payment Date. 
Thereafter, any payments that remain outstanding as of the day
immediately following the New Payment Date shall be paid without delay over the
time period originally scheduled, in accordance with the terms of this
Agreement.

8.2           Employment
by Subsidiary.  For purposes of this
Agreement, the Executive’s employment with the Company shall not be deemed to
have terminated solely as a result of the Executive continuing to be employed
by a wholly-owned subsidiary of the Company.

8.3           Severability.  The invalidity or unenforceability of any
provision of this Agreement shall not affect the validity or enforceability of
any other provision of this Agreement, which shall remain in full force and
effect.

8.4           Injunctive
Relief.  The Company and the
Executive agree that any breach of this Agreement by the Company is likely to
cause the Executive substantial and irrevocable damage and therefore, in the
event of any such breach, in addition to such other remedies which may be
available, the Executive shall have the right to specific performance and
injunctive relief.

8.5           Governing
Law.  The validity, interpretation,
construction and performance of this Agreement shall be governed by the internal
laws of the Commonwealth of Massachusetts, without regard to conflicts of law
principles.

8.6           Waivers.  No waiver by the Executive at any time of any
breach of, or compliance with, any provision of this Agreement to be performed
by the Company shall be deemed a waiver of that or any other provision at any
subsequent time.

8.7           Counterparts.  This Agreement may be executed in
counterparts, each of which shall be deemed to be an original but both of which
together shall constitute one and the same instrument.

8.8           Tax
Withholding.  Any payments provided
for hereunder shall be paid net of any applicable tax withholding required
under federal, state or local law.

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8.9           Entire
Agreement.  This Agreement sets forth
the entire agreement of the parties hereto in respect of the subject matter
contained herein and supersedes all prior agreements, promises, covenants,
arrangements, communications, representations or warranties, whether oral or
written, by any officer, employee or representative of any party hereto in respect
of the subject matter contained herein; and any prior agreement of the parties
hereto in respect of the subject matter contained herein is hereby terminated
and cancelled.

8.10         Amendments.  This Agreement may be amended or modified
only by a written instrument executed by both the Company and the Executive.

8.11         Executive’s
Acknowledgements.  The Executive
acknowledges that the Executive: (a) has read this Agreement; (b) has been
represented in the preparation, negotiation, and execution of this Agreement by
legal counsel of the Executive’s own choice or has voluntarily declined to seek
such counsel; (c) understands the terms and consequences of this Agreement; and
(d) understands that the law firm of WilmerHale is acting as counsel to the
Company in connection with the transactions contemplated by this Agreement, and
is not acting as counsel for the Executive.

IN WITNESS WHEREOF, the parties hereto have executed
this Agreement as of the day and year first set forth above.

ASPEN TECHNOLOGY, INC.

	
  By:

  	
   

  	
  /s/ Mark E. Fusco

  	
   

  	
   

  
	
  Title:

  	
   

  	
  President and Chief Executive Officer

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  [NAME OF
  EXECUTIVE]

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Address:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  

 

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