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Exhibit 10.45    
    

CONFIDENTIALITY AND NON-COMPETITION AGREEMENT  

        This Confidentiality and Non-Competition Agreement (this "Agreement") is entered into as a condition of employment with Aspen Technology, Inc.
("AspenTech") by                                    ("Employee")
effective as of the first day of Employee's employment by AspenTech. 

        Employee
acknowledges that AspenTech's business depends on the marketing, license and sale of its proprietary products, know-how, services, and information. Employee will be
using this information and, in the course of Employee's work, Employee may develop further information which is important to AspenTech's business. In working with AspenTech's customers, Employee will
also have access to their information which AspenTech is obligated to keep confidential. AspenTech desires to be able to impart confidential information to Employee with the knowledge that the
information will be used solely for AspenTech's benefit and not in competition with, or to the detriment of AspenTech. 

        This
Agreement sets forth the terms of Employee's agreement with respect to the handling of proprietary and confidential information and with respect to non-competition. In
consideration of and as part of the terms of Employee's employment with AspenTech, Employee agrees as follows: 

	1.
	Confidential
Information.    Employee recognizes and acknowledges that Employee will have access to certain confidential information and/or trade
secrets during employment with AspenTech, and agrees that, except as required as part of Employee's work with AspenTech, Employee will maintain confidential all data, trade secrets, processes,
formulae, inventions, specifications, techniques, methods, designs, working papers, notes, computer programs, software packages, test results, technical know-how, technical data, methods
and procedures of operation, customer lists, business or marketing plans, customer lists, proposals, and all other information concerning customers, personnel and financial data, plans, contracts, and
proprietary information of AspenTech or of another person or entity and in AspenTech's possession in connection with its business ("Proprietary Information"). This obligation will continue both during
and after Employee's employment with AspenTech, but does not apply to information which is or becomes public knowledge through no act or omission of Employee.

	2.
	Proprietary
Rights.    All Proprietary Information in any form, whether patentable or copyrightable or not, which Employee generates either
solely or jointly during Employee's employment by AspenTech, excluding information developed outside the scope of employ as approved in writing by Employee's manager, (the "Developments") will be the
sole and exclusive property of AspenTech (and in the case of copyrightable material, will be a "WORK MADE FOR HIRE" by the Employee for AspenTech). Employee will promptly and fully disclose all
Developments to AspenTech and, if deemed necessary by AspenTech and at AspenTech's expense, will execute and deliver such instruments as AspenTech may request to protect its right, title, and interest
in and to any of the Developments.

	3.
	Records
and Equipment.    Immediately upon the termination of Employee's employment, or otherwise on demand by AspenTech, Employee will deliver
to AspenTech all Proprietary Information, including without limitation, papers, photographs, drawings, notes, plans, computer programs, tapes, listings, copies of correspondence, memoranda, reports,
customer lists, addresses, computers and other materials or equipment made or compiled by Employee or made available to Employee during the course of employment. Employee may not retain any copies
without AspenTech's express written permission.

	4.
	Non-Competition
and Non-Solicitation.    In exchange for AspenTech's disclosing Proprietary Information to Employee,
Employee agrees that during the term of Employee's employment and for a period of twelve (12) months following the termination thereof for any reason, Employee will 

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not
compete with AspenTech without AspenTech's written permission, which shall not be unreasonably withheld. For the purposes of this Agreement, "Competing with AspenTech" means 

	4.1.
	during
the term of employment (i) soliciting any employee of AspenTech to leave his or her employment with AspenTech or to breach his or her employment obligations with
AspenTech, or (ii) working for Employee's own account or that of any firm, partnership, or entity, on any project competitive with AspenTech business;

	4.2.
	with
respect to the period before and after termination of employment, (i) directly or through another party soliciting any employee of AspenTech to leave his or her
employment with AspenTech or to breach his or her employment obligations with AspenTech, or (ii) working for Employee's own account or that of any firm, partnership, or entity, on any project
substantially similar to or competitive with a project on which Employee worked while at AspenTech, or (iii) soliciting AspenTech's customers with whom Employee has dealt during the last twelve
months of Employee's employment with AspenTech, either (a) to cease to do business with AspenTech, or (b) to do business with any other firm, partnership, or entity, in actual or
proposed competition with AspenTech. 

It
is understood that, except as specifically set forth herein, this Agreement does not restrict Employee in the exercise of his or her technical skill subsequent to his or her employment with
AspenTech, provided that the exercise of such skill does not involve the disclosure to others of Proprietary Information or the use by the Employee of such Proprietary Information for Employee's
benefit, or on behalf of others. 

	5.
	Term.    This
Agreement will take effect on the first day of Employee's employment by AspenTech and will continue in full force and effect if
Employee's relationship becomes that of a consultant rather than an employee, and shall continue, with respect to Employee's obligations of confidentiality hereunder and Employee's obligations set
forth in paragraph 4.2 on Non-Competition and Non-Solicitation, after termination of employment and termination of any consulting relationship. In the event Employee is
retained as a consultant, all reference in this Agreement to termination of employment will be construed to mean termination of the consulting relationship.

	6.
	Severability;
Breach.    If any provision of this Agreement is found to be void or is so declared by a court of competent jurisdiction, such
provision shall be severed from this Agreement, which shall otherwise remain in full force and effect. For violations of this Agreement, Employee understands and agrees that AspenTech shall be
entitled to injunctive or other equitable relief as well as the right to recover any damages incurred as a result of such violations. 

Please
sign where indicated below, upon which this Agreement will be a binding agreement under seal, governed by Massachusetts law. 

EMPLOYEE:

	Signature:	    
	 
	

Printed name:	

    
	

 
	

Date:	

    
	

 

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QuickLinks

Exhibit 10.45Exhibit 10.50

 

AMENDED
AND RESTATED

EMPLOYMENT
AND CHANGE OF CONTROL AGREEMENT

Mark
Fusco

 

Aspen Technology, Inc.,
a Delaware corporation (“AspenTech”), and Mark Fusco (the “Executive”) entered
into an Employment and Change in Control Agreement (the “Agreement”) dated December 7,
2004, which Agreement was amended on October 28, 2005.  The Agreement is hereby amended and restated,
effective October     , 2007, so as to comply with the
applicable provisions of Section 409A of the Internal Revenue Code of 1986,
as amended, and the final Treasury regulations and guidance issued thereunder (“Section 409A”).  The Agreement is not otherwise being revised
and the rights and obligations of AspenTech and the Executive remain in full
force and effect as set forth below.

 

AspenTech considers it
essential to the best interests of its stockholders to retain the services of
the Executive, and that appropriate steps should be taken to reinforce and
encourage the continued attention and dedication of the Executive to his assigned
duties.

 

In consideration of the
premises and the mutual covenants herein contained, and for other valuable
consideration, AspenTech and the Executive hereby agree as follows:

 

1.                                       Defined
Terms.

 

The definitions of capitalized terms used in this
Agreement are provided in the last section hereof.

 

2.                                       Term
of Agreement.

 

This Agreement shall commence on the date hereof and
shall continue in effect until the Termination Date.

 

3.                                       Employment.

 

AspenTech agrees to continue to employ the Executive
in the position of President and Chief Executive Officer. The Executive agrees,
while employed hereunder, to perform his duties faithfully on a full-time basis
and to the best of his ability.  The
Executive will report to the Board of Directors and will remain a member of the
Board of Directors.

 

It is also understood and agreed that the Executive
may serve on civic, charity or corporate boards during his employment with
AspenTech so long as it does not interfere with his duties as Director,
President and Chief Executive Officer of AspenTech.

 

4.                                       Compensation.

 

As compensation for the Executive’s services during
the Term, AspenTech shall pay the Executive an annual base salary, initially at
the rate of $500,000 per year, subject to merit increases on an annual basis.

 

 

The Executive will have an annual bonus potential
equal to $600,000.  The bonus will be
payable based on the Compensation Committee’s review of the Executive’s
performance during the year of service to which the bonus relates against
established targets and at such time as other Executive bonuses are paid.  Payment of the Executive’s bonus shall be
made by the 15th day of the third month following the later of the end of the
Executive’s taxable year or the end of AspenTech’s taxable year to which the bonus
relates.

 

5.                                       Stock
Options.

 

The Executive will be eligible to
receive future grants of options, or if available, restricted stock or other
equity awards, at the discretion of the Compensation Committee which,
considering the Executive’s performance, will seek to
provide the Executive with a level of equity
participation comparable to other chief executive officers of comparable
companies.

 

6.                                       Employee
Benefits

 

The Executive will also be eligible to receive
AspenTech’s standard Executive benefits including paid vacation (minimum 5
weeks), paid holidays, life, AD&D, long-term disability insurance, PPO
medical and dental plans, 401K plan, and Executive Stock Purchase Plan.  Additional information regarding these plans
is contained in plan documents and summaries that the Executive will be
provided.  All benefits under these and
any other company compensation or benefit plans are subject to the terms and
conditions stated in the plan documents and summaries.  AspenTech reserves the right to modify,
amend, or terminate any compensation or benefit plan at any time in its sole
discretion.

 

7.                                       Corollary
Agreements

 

AspenTech agrees to reimburse the Executive for
reasonable legal fees incurred in connection with the review of this Amended
and Restated Employment and Change of Control Agreement, payable within thirty
business days after delivery of the Executive’s written requests for payment
accompanied with such evidence of fees incurred as AspenTech reasonably may
require.  Notwithstanding the foregoing, (i) the
expenses eligible for reimbursement may not affect the expenses eligible for
reimbursement in any other taxable year, (ii) such reimbursement must be
made on or before the last day of the year following the year in which the
expenses were incurred, and (iii) the right to reimbursement is not
subject to liquidation or exchange for another benefit.

 

8.                                       Payments
After Termination or Change in Control.

 

8.1                                 If the Executive’s employment shall be
terminated for any reason during the term of this Agreement, AspenTech shall
pay the Executive’s full salary to the Executive through the Date of
Termination at the rate in effect at the time the Notice of Termination is
given, together with all compensation and benefits payable to the Executive
through the Date of Termination under the terms of any compensation or benefit
plan, program or arrangement maintained by AspenTech during such period.

 

8.2                                 Subject to Section 8.3, AspenTech shall
pay to the Executive the payments described in this Section 8.2 (the “Severance
Payments”) upon the termination of the Executive’s employment during the term
of this Agreement, whether prior to or following a 

 

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Change in Control, in
addition to the payments and benefits described in Section 8.1, unless
such termination is (i) by AspenTech for Cause, (ii) by reason of
death or disability, (iii) by the Executive without Good Reason, unless
such resignation occurs within 180 days following a Change in Control, or (iv) after
the Executive shall have attained age 70. 
For the avoidance of doubt, in the event that either (A) AspenTech
terminates the employment of the Executive without Cause, whether prior to or
following a Change in Control, (B) the Executive resigns for any reason,
or for no reason, within 180 days following a Change in Control, or (C) if
the Executive resigns for Good Reason, the Executive shall be entitled to the
Severance Payments as defined below and the other payments provided for in this
Agreement.  In lieu of any further salary
payments to the Executive for periods subsequent to the Date of Termination and
in lieu of any severance benefits otherwise payable to the Executive under any
then existing broad-based executive severance plan, AspenTech shall pay to the
Executive a lump sum Severance Payment within 30 days following the Date of
Termination, in cash, equal to two times the sum of (x) the higher of the
Executive’s annual base salary in effect immediately prior to giving of Notice
of Termination by AspenTech or the Executive, or in effect immediately prior to
the occurrence of a Change in Control, as the case may be, and (y) the
higher of the average of the annual bonuses paid to the Executive for the three
years (or the number of years employed, if less) immediately preceding the
giving of Notice of Termination by AspenTech or the Executive, or the
occurrence of a Change in Control, as the case may be.  In lieu of any further life, disability, and
accident insurance (not including health insurance) benefits otherwise due to
the Executive, AspenTech shall pay to the Executive a lump sum amount within 30
days following the Date of Termination, in cash, equal to the estimated cost to
the Executive (as determined by AspenTech in good faith with reference to its
most recent actual experience) 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 two years commencing on the Date of
Termination.  AspenTech shall pay all of
Executive’s health insurance premiums for a period of two years commencing on
the Date of Termination with such payments to be made on a monthly basis.

 

8.3                                 The following rules shall apply with
respect to distribution of the payments and benefits, if any, to be provided to
the Executive under Sections 8.1 and 8.2.

 

(i)                                     It is intended that each installment of the
payments and benefits provided under Sections 8.1 and 8.2 shall be treated as a
separate “payment” for purposes of Section 409A.  Neither AspenTech nor the Executive shall
have the right to accelerate or defer the delivery of any such payments or
benefits except to the extent specifically permitted or required by Section 409A;

 

(ii)                                  If, as of the date of the “separation from
service” of the Executive from AspenTech, the Executive is not a “specified
employee” (each within the meaning of Section 409A), then each installment
of the payments and benefits shall be made on the dates and terms set forth in
Sections 8.1 and 8.2; and

 

(iii)                               If, as of the date of the “separation from service” of the Executive
from AspenTech, the Executive is a “specified employee” (each, for purposes of
this Agreement, within the meaning of Section 409A), then each installment
of the payments and benefits due under Sections 8.1 and 8.2 that would, absent
this subsection, be paid within the six-month period following the “separation
from service” of the Executive from AspenTech 

 

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shall not be paid until the
date that is six months and one day after such separation from service (or, if
earlier, the death of the Executive), with any such installments that are
required to be delayed being accumulated during the six-month period plus
interest at an annual rate equal to the prime rate as set forth in the Eastern
edition of the Wall Street Journal on the date of “separation from service”,
from such date of “separation from service” until the date of payment, and paid
in a lump sum on the date that is six months and one day following the
Executive’s separation from service and any subsequent installments, if any,
being paid in accordance with the dates and terms set forth herein.

 

8.4                                 AspenTech also shall pay to the Executive
reasonable legal fees and expenses incurred by the Executive to obtain or
enforce any benefit or right provided by this Agreement, payable within thirty
business days after delivery of the Executive’s written requests for payment
accompanied with such evidence of fees and expenses incurred as AspenTech
reasonably may require. Notwithstanding
the foregoing, (i) the expenses eligible for reimbursement may not affect
the expenses eligible for reimbursement in any other taxable year, (ii) such
reimbursement must be made on or before the last day of the year following the
year in which the expenses were incurred, and (iii) the right to
reimbursement is not subject to liquidation or exchange for another benefit.

 

9.                                       Certain Additional Payments by AspenTech.

 

9.1                                 Notwithstanding any other provisions of this
Agreement, in the event that any payment or benefit received or to be received
by the Executive in connection with the termination of the Executive’s
employment hereunder or pursuant to Section 13.1 hereof in the event that
the Executive’s employment is not terminated (all such payments and benefits,
including without limitation, the Severance Payments and acceleration of stock
options following Change in Control, the “Total Payments”) is determined to be
subject (in whole or part) to the Excise Tax and/or the 409A Penalty, then the
Executive shall be entitled to receive an additional payment (a “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, the Excise Tax and/or the 409A
Penalty, imposed upon the Gross-Up Payment, the Executive retains an amount
equal to the Total Payments. 
Notwithstanding the foregoing provisions of this Section 9.1, if it
shall be determined that the Executive is entitled to a Gross-Up Payment with
respect to Excise Tax, but that the Total Payments do not exceed 110% of the
greatest amount (the “Reduced Amount”) that could be paid to the Executive such
that the receipt thereof would not give rise to any Excise Tax, then no
Gross-Up Payment with respect to the Excise Tax shall be made to the Executive
and the Total Payments shall be reduced to the Reduced Amount.  Notwithstanding the foregoing, any Gross-Up
Payment will be made by the end of the Executive’s taxable year following the
year in which the Executive remits the related taxes.

 

9.2                                 All determinations required to be made under
this Section 9, including whether and when a Gross-Up Payment is required
and the amount of such Gross-Up Payment and the assumptions to be utilized in
arriving at such determination, shall be made by AspenTech’s accountants or
such other certified public accounting firm reasonably acceptable to AspenTech
as may be designated by the Executive (the “Accounting Firm”) which shall
provide detailed supporting calculations both to AspenTech and the Executive.

 

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10.                                 Termination
Procedures.

 

10.1 Notice of
Termination.  Any purported termination of the
Executive’s employment (other than by reason of death) shall be communicated by
written Notice of Termination from one party hereto to the other party hereto
in accordance with Section 14. 
Further, a Notice of Termination for Cause is required to include a copy
of a resolution duly adopted by the affirmative vote of not less than
three-quarters of the entire membership of the Board at a meeting of the Board
which was called and held for the purpose of considering such termination
(after reasonable notice to the Executive and an opportunity for the Executive,
together with the Executive’s counsel, to be heard before the Board) finding
that, in the good faith opinion of the Board, the Executive was guilty of
conduct set forth in the definition of Cause. 
If the finding of Cause is capable of being cured, then the Executive
shall have thirty (30) days to cure such finding after hearing with the
Board.  The Executive may be terminated
immediately upon a finding of Cause under 19.4 (ii) and (iii).

 

10.2                           Date of Termination.  “Date of Termination”, with respect to any
purported termination of the Executive’s employment during the term of this
Agreement, whether prior to or following a Change in Control, shall mean the
date specified in the Notice of Termination (which, in the case of a termination
by AspenTech otherwise than for Cause, shall not be less than thirty days and,
in the case of a termination by the Executive, shall not be less than fifteen
days nor more than sixty days, respectively, from the date such Notice of
Termination is given).

 

11.                                 No
Mitigation.

 

If the Executive’s employment by AspenTech is
terminated during the term of this Agreement, the Executive is not required to
seek other employment or to attempt in any way to reduce any amounts payable to
the Executive by AspenTech pursuant to Sections 8 and 9.  Further, the amount of any payment or benefit
provided for in Sections 8 and 9 shall not be reduced by any compensation
earned by the Executive as the result of employment by another employer, by
retirement benefits, by offset against any amount claimed to be owed by the
Executive to AspenTech, or otherwise.

 

12.                                 Executive’s
Covenants.

 

The Executive agrees that, subject to the terms and
conditions of this Agreement, in the event of a Potential Change in Control
during the term of this Agreement, the Executive will remain in the employ of
AspenTech until the earliest of (i) a date which is three months from the
date of such Potential Change of Control, (ii) the date of a Change in
Control, (iii) the date of termination by the Executive of the Executive’s
employment for Good Reason, by reason of death or Retirement; or (iv) the
termination by AspenTech of the Executive’s employment for any reason.

 

13.                                 Successors;
Binding Agreement.

 

13.1                           Upon a Change in Control which is also a Section 409A Change in
Control (as defined below), unless the successor expressly assumes and agrees
to perform this Agreement in the same manner and to the same extent that
AspenTech would be required to perform it if no such succession had taken place,
the Executive shall be entitled to the 

 

5

 

compensation from AspenTech
in the same amount and on the same terms as is payable under Section 8.2
upon certain terminations, except that, for purposes of implementing the
foregoing, the date of the Section 409A Change in Control shall be deemed
the Date of Termination.  Such amounts
shall be payable without regard to whether the Executive is terminated.  For purposes of this paragraph, a Section 409A
Change in Control is (i) a change in the ownership of AspenTech (as
defined in Treasury Regulation Section 1.409A-3(i)(5)(v)), (ii) a
change in effective control of AspenTech (as defined in Treasury Regulation Section 1.409A-3(i)(5)(vi)),
or a change in the ownership of a substantial portion of the assets of
AspenTech (as defined in Treasury Regulation Section 1.409A-3(i)(5)(vii)).

 

13.2                           This Agreement shall inure to the benefit of and be enforceable by the
Executive’s personal or legal representatives. 
If the Executive shall die while any amount would still be payable to
the Executive hereunder (other than amounts which, by their terms, terminate
upon the death of the Executive) 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 Executive’s representatives.

 

14.                                 Notices.

 

For the purpose of this Agreement, notices and all
other communications provided for in the Agreement shall be in writing and
shall be deemed to have been duly given when delivered or mailed by United
States certified or registered mail, return receipt requested, postage prepaid,
addressed to the respective addresses set forth below, or to such other address
as either party may have furnished to the other in writing in accordance
herewith, except that notice of change of address shall be effective only upon
actual receipt:

 

	
   

  	
  To AspenTech:

  	
  AspenTechnology,Inc.

  	
   

  	
   

  
	
   

  	
   

  	
  Attention: Lead Director

  	
   

  	
   

  
	
   

  	
   

  	
  200 Wheeler Road

  	
   

  	
   

  
	
   

  	
   

  	
  Burlington MA 01803

  	
   

  	
   

  
	
   

  	
   

  	
  Facsimile:  617.577.0722

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  With a copy to:

  	
  General Counsel

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  AspenTechnology,Inc.

  	
   

  	
   

  
	
   

  	
   

  	
  200 Wheeler Road

  	
   

  	
   

  
	
   

  	
   

  	
  Burlington
  MA 01803

  	
   

  	
   

  
	
   

  	
   

  	
  Facsimile:  617.949.1717

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  To the Executive:

  	
  Mr. Mark Fusco

  	
   

  	
   

  
	
   

  	
   

  	
  155 Grove Street

  	
   

  	
   

  
	
   

  	
   

  	
  Westwood, MA 02090

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  With a copy to:

  	
  Lea B. Pendleton, Esq.

  	
   

  	
   

  
	
   

  	
   

  	
  Morse, Barnes-Brown & Pendleton, P.C.

  	
   

  	
   

  
	
   

  	
   

  	
  1601 Trapelo Road

  	
   

  	
   

  
	
   

  	
   

  	
  Waltham, MA 02541

  	
   

  	
   

  

 

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  Facsimile:  781-622-5933

  	
   

  	
   

  

 

15.                                 Miscellaneous.

 

No provision of this Agreement may be modified,
waived or discharged unless such waiver, modification or discharge is agreed to
in writing and signed by the Executive and such officer as may be specifically
designated by the Board.  Except as
expressly provided herein, no waiver by either party hereto at any time of any
breach by the other party hereto of, or compliance with, any condition or
provision of this Agreement to be performed by such other party shall be deemed
a waiver of similar or dissimilar provisions or conditions at the same or at
any prior or subsequent time.  No
agreements or representations, oral or otherwise, express or implied, with
respect to the subject matter hereof have been made by either party which are
not expressly set forth in this Agreement. 
The validity, interpretation, construction and performance of this
Agreement shall be governed by the laws of the Commonwealth of Massachusetts,
and this Agreement shall be an instrument under seal.  All references to sections of the Exchange
Act or the Code shall be deemed also to refer to any successor provisions to
such sections.  Any payments provided for
hereunder shall be paid net of any applicable withholding required under
federal, state or local law and any additional withholding to which the
Executive has agreed.

 

16.                                 Entire
Agreement; Amendment.

 

This Agreement constitutes the entire agreement of
the parties  and supersedes any and all prior agreements,
understandings, promises or representations made by either party concerning the
subject matter of this Agreement.  This
Agreement may be altered or amended or any provision hereof waived only by an
agreement in writing signed by the party against whom enforcement of any
alteration, amendment, or waiver is sought. 
No waiver by any party of any breach of this Agreement shall be
considered as a waiver of any subsequent breach.

 

17.                                 Settlement
of Disputes; Arbitration.

 

All claims by the Executive for benefits under this
Agreement shall be directed to and determined by the Board and shall be in writing.  Any denial by the Board 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 denial and the specific
provisions of this Agreement relied upon. 
Any and all disputes or controversies arising under or in connection
with this Agreement or in connection with Executive’s employment with AspenTech
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 Executive shall, however, be entitled to
seek specific performance of the Executive’s right to be paid until the Date of
Termination during the pendency of any dispute or controversy arising under or
in connection with this Agreement.

 

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18.                                 Governing
Law.

 

This Agreement shall be governed by and construed in
accordance with the internal laws of the Commonwealth of Massachusetts without
giving effect to any choice or conflict of law provision or rule (whether
of the Commonwealth of Massachusetts or any other jurisdiction) that would
cause the application of laws of any jurisdictions other than those of the
Commonwealth of Massachusetts.

 

19.                                 Definitions.

 

For purposes of this Agreement, the following terms
shall have the-meanings indicated below:

 

19.1                           “409A Penalty” shall mean the interest and additional 20% tax imposed
by Section 409A of the Code.

 

19.2                           “AspenTech” shall mean Aspen Technology, Inc. and any successor to
its business and/or assets which assumes or agrees to perform this Agreement,
by operation of law or otherwise.

 

19.3                           “Beneficial owner” shall have the meaning defined in Rule 13d-3
under the Exchange Act.

 

19.4                           “Board” shall mean the Board of Directors of
AspenTech.

 

19.5                           “Cause” for termination by AspenTech of the
Executive’s employment,  shall mean (i) the
willful and continued failure by the Executive to substantially perform the
Executive’s duties with AspenTech (other than any such failure resulting from
the Executive’s incapacity due to physical or mental illness or any such actual
or anticipated failure after the issuance of a Notice of Termination for Good
Reason by the Executive) after a written demand for substantial performance is
delivered to the Executive by the Board, which demand specifically identifies
the manner in which the Board believes that the Executive has not substantially
performed the Executive’s duties, or (ii) the willful engaging by the
Executive in gross misconduct which is demonstrably and materially injurious to
AspenTech or any of its subsidiaries, monetarily or otherwise, or (iii) the
entry of a plea of guilty or nolo contendere
by the Executive to any felony.  No act,
or failure to act, on the Executive’s part shall be deemed “willful” unless
intentionally done, or omitted to be done, by the Executive not in good faith
and without reasonable belief that the Executive’s act, or failure to act, was
in the best interest of AspenTech.

 

19.6                           A “Change in Control” shall be deemed to have
occurred if the conditions set forth in any one of the following paragraphs
shall have been satisfied:

 

(a)                                  Continuing Directors constitute two-thirds or
less of the membership of the Board, whether as the result of a proxy contest
or for any other reason or reasons; or

 

8

 

(b)                                 Any Person is or becomes the Beneficial
owner, directly or indirectly, of securities of AspenTech representing fifty
percent or more of the combined voting power of AspenTech’s then outstanding
voting securities; or

 

(c)                                  There is a change in control of AspenTech of
a nature that would be required to be reported on Form 8-K or item 6(e) of
Schedule 14A of Regulation 14A or any similar item, schedule or form under the
Exchange Act, as in effect at the time of the change, whether or not AspenTech
is then subject to such reporting requirement, including without limitation any
merger or consolidation of AspenTech with any other corporation, other than (i) a
merger or consolidation which would result in the voting securities of
AspenTech outstanding immediately prior thereto continuing to represent (either
by remaining outstanding or by being converted into voting securities of the
surviving or parent entity) fifty-one percent or more of the combined voting
power of the voting securities (entitled to vote generally for the election of
directors) of AspenTech or such surviving or parent entity outstanding immediately
after such merger or consolidation and which would result in those persons who
are Continuing Directors immediately prior to such merger or consolidation
constituting more than two-thirds of the membership of the Board or the board
of such surviving or parent entity immediately after, or subsequently at any
time as contemplated by or as a result of, such merger or consolidation or (ii) a
merger or consolidation effected to implement a recapitalization of AspenTech
(or similar transaction) in which no Person acquired twenty-five percent or
more of the combined voting power of AspenTech’s then outstanding securities;
or

 

(d)                                 the stockholders of AspenTech approve a plan
of complete liquidation of AspenTech or an agreement for the sale or
disposition by AspenTech of all or substantially all of AspenTech’s assets (or
any transaction having a similar effect).

 

19.7                           “Code” shall mean the Internal Revenue Code of 1986, as amended from
time to time.

 

19.8                           “Compensation Committee” shall mean the Compensation Committee of the
Board.

 

19.9                           “Continuing Director” shall mean any director (i) who has
continuously been a member of the Board since not later than the date of a
Potential Change in Control or (ii) who is a successor of a director
described in clause (i), if such successor (and any intervening successor)
shall have been recommended or elected to succeed a Continuing Director by a
majority of the then Continuing Directors.

 

19.10                     “Date of Termination” shall have the meaning stated in Section 10.2
hereof.

 

19.11                     “Exchange Act” shall mean the Securities Exchange Act of 1934, as
amended from time to time.

 

9

 

19.12                     “Excise Tax” shall mean the tax imposed by Section 4999 of the
Code.

 

19.13                     “Executive” shall mean the individual named in the first paragraph of
this Agreement.

 

19.14                     “Good Reason” for termination by the Executive of the Executive’s
employment shall mean the occurrence (without the Executive’s express written
consent) of any one of the following acts or failures to act by AspenTech
unless, in the case of any act or failure to act described in paragraph (a),
(e), (f) or (g) below, such act or failure to act is corrected prior
to the Date of Termination specified in the Notice of Termination given in
respect thereof or, in the case of paragraph (c) below, such act is not
objected to in writing by the Executive within four months after notification
by AspenTech to the Executive of AspenTech’s intention to take the action
contemplated by such paragraph (c):

 

(a)                                  the assignment to the Executive of duties
inconsistent with the Executive’s status as chief executive officer of
AspenTech after the Executive has notified the Board of his objection to such
assignments and the Board has refused or fails without substantial reason to
withdraw the assignment(s) within thirty days after such notification, or
a substantial alteration, adverse to the Executive, in the nature or status of
the Executive’s responsibilities (other than reporting responsibilities) from
those in effect immediately prior to the Change in Control;

 

(b)                                 a reduction by AspenTech in the Executive’s
annual base salary as in effect on the date hereof or as the same may be
increased from time to time except for across-the-board salary reductions
similarly affecting all senior executives of AspenTech and all senior
executives of any Person in control of AspenTech;

 

(c)                                  AspenTech’s requiring the Executive to be
based anywhere other than the Boston Metropolitan Area (or, if different, the
metropolitan area in which AspenTech’s principal executive offices are located)
except for required travel on AspenTech business to an extent substantially
consistent with the Executive’s present business travel obligations;

 

(d)                                 the failure by AspenTech, without the
Executive’s consent, to pay to the Executive any portion of the Executive’s
current compensation, or to pay to the Executive any portion of an installment
of deferred compensation under any deferred compensation program of AspenTech,
within fourteen days of the date such compensation is due;

 

(e) the failure by AspenTech to continue in
effect any compensation plan in which the Executive participates which is
material to the Executive’s total compensation, or the failure by AspenTech to
continue the Executive’s participation therein 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;

 

10

 

(f)                                    the failure by AspenTech to continue to
provide the Executive with benefits substantially similar to those enjoyed by
the Executive under any of AspenTech’ s pension, life insurance, medical,
health and accident, or disability plans in which the Executive was participating,
the taking of any action by AspenTech which would directly or indirectly
materially reduce any of such benefits or deprive the Executive of any material
fringe benefit enjoyed by the Executive, or the failure by AspenTech to provide
the Executive with the number of paid vacation days to which the Executive is
entitled on the basis of years of service with AspenTech in accordance with
AspenTech’s normal vacation policy in effect, or pursuant to this Agreement; or

 

(g)                                 any purported termination of the Executive’s
employment which is not effected pursuant to a Notice of Termination satisfying
the requirements of Section 10.1.

 

19.15                     “Notice of Termination” shall have the meaning stated in Section 10.1.

 

19.16                     “Person” shall have the meaning given in Section 3(a)(9) of
the Exchange Act, as modified and used in Sections 13(d) and 14(d).
thereof; however, a Person shall not include (i) AspenTech or any of its
subsidiaries, (ii) a trustee or other fiduciary holding securities under
an executive benefit plan of AspenTech or any of its subsidiaries, (iii) an
underwriter temporarily holding securities pursuant to a registered offering of
such securities in accordance with an agreement with AspenTech, or (iv) a
corporation owned, directly or indirectly, by the stockholders of AspenTech in
substantially the same proportions as their ownership of stock of AspenTech.

 

19.17                     “Potential Change in Control” shall be deemed to have occurred if the
conditions set forth in any one of the following paragraphs shall have been
satisfied:

 

(a)                                  AspenTech enters into an agreement, the
consummation of which would result in the occurrence of a Change in Control;

 

(b)                                 AspenTech or any Person publicly announces an
intention to take or to consider taking actions which, if consummated, would
constitute a Change in Control;

 

(c)                                  any Person becomes the Beneficial Owner,
directly or indirectly, of securities of AspenTech representing fifteen percent
or more of the combined voting power of AspenTech’s then outstanding securities
(entitled to vote generally for the election of directors); or

 

(d)                                 the Board adopts a resolution to the effect
that, for purposes of this Agreement, a Potential Change in Control has
occurred.

 

19.18                     “Severance Payments” shall mean those payments described in Section 8.2
hereof.

 

11

 

19.19                     “Total Payments” shall mean those payments described in Section 9.1
hereof.

 

20.                                 Section 409A.  This
Agreement is intended to comply with the provisions of Section 409A and
the Agreement shall, to the extent practicable, be construed in accordance
therewith.  Terms defined in the
Agreement shall have the meanings given such terms under Section 409A if
and to the extent required in order to comply with Section 409A.

 

IN WITNESS WHEREOF, AspenTech and the Executive have executed
and delivered this Agreement as of the effective date first written above.

 

 

	
  ASPEN TECHNOLOGY, INC.

  	
  MARK FUSCO

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
     /s/
  Stephen Jennings

  	
   

  	
     /s/ Mark Fusco

  	
   

  
	
   

  	
  Stephen
  Jennings

  	
   

  
	
   

  	
  Director

  	
   

  
					

 

12

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