Document:

Exhibit 10.6

PARTIAL
RELEASE AND ACKNOWLEDGEMENT AGREEMENT

This Partial Release and Acknowledgment Agreement (the
“Agreement”) is entered into as of September 27, 2006, by and among (i) SILICON VALLEY BANK, a California chartered
bank, with its principal place of business at 3003 Tasman Drive, Santa
Clara, California 95054 and with a loan production office located at One Newton
Executive Park, Suite 200, 2221 Washington Street, Newton, Massachusetts  02462 (“SVB”), (ii) ASPEN TECHNOLOGY, INC., a Delaware
corporation with offices at Ten Canal Park, Cambridge, Massachusetts 02141, for
itself and as successor by merger to ASPENTECH,
INC., formerly a Texas corporation 
with offices at Ten Canal Park, Cambridge, Massachusetts 02141( “Borrower”),
and the parties who have executed this Agreement, as evidenced by their
signature below (each a “Party”, and collectively, the “Parties”).

Whereas, Borrower is indebted to SVB pursuant to a
loan arrangement dated as of January 30, 2003, as evidenced by a certain Loan and
Security Agreement and a certain Export-Import Bank Loan and Security Agreement
each dated as of January 30, 2003 (each as amended and in effect, collectively,
the “SVB Loan Arrangement”) and SVB and Borrower have also entered into a
certain Non-Recourse Receivables Purchase Agreement dated December 31, 2003 (as
amended and in effect, the “SVB Purchase Facility”).

Whereas, SVB has agreed to release its security
interest in certain assets of Borrower in accordance with the provisions hereof
in order to permit Borrower to sell such assets to Aspen Technology Funding
2006 - I LLC, free and clear of the security interest granted to SVB under the
SVB Loan Arrangement and SVB’s interest in the accounts receivable purchased
under the SVB Purchase Facility, which assets shall be subsequently conveyed by
Aspen Technology Funding 2006 - I LLC to Aspen Technology Funding 2006 - II LLC
(“SPE II”), and which assets will then be pledged by SPE II to Key Equipment
Finance, Inc., as agent for certain lenders extending loans to SPE II (the “Key
Transaction”).

Now, therefore, for good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, SVB, the
Borrower, and the Parties hereby agree as follows:

1.             Partial Release. 
SVB hereby irrevocably releases any lien, claim, encumbrance or security
interest (including, without limitation, its security interests under the SVB
Loan Arrangement and its interest in accounts receivable purchased under the
SVB Purchase Facility) it may have, solely in those certain accounts
receivable, contracts (or portion thereof), related security, and collections
which are listed on Exhibit A
hereto (the “SPV Receivables”) and all proceeds thereof.

2.             Treatment of Proceeds of the SPV Receivables.   SVB specifically acknowledges and agrees
that it shall retain no security interest or ownership interest in or to the
SPV Receivables or the proceeds thereof (the “Funds”).  In the event SVB receives, acquires or
obtains any such Funds directly from the Collection Account (as defined herein)
as

 

 

payment of any of the Borrower’s obligations under the
SVB Loan Arrangement or the SVB Purchase Facility, in connection with a
disbursement request by the Borrower to SVB directly from the Collection
Account, or by set off or other action taken by SVB against the Collection
Account, SVB agrees to promptly turn over any such Funds, or the proceeds
thereof, to KEY or, at SVB’s option, SVB may deposit such Funds into a court of
competent jurisdiction in an interpleader action.  In the event that any Party receives,
acquires or obtains any collateral or property of SVB, such Party hereby agrees
to promptly turn over such collateral, property, or the proceeds thereof, to
SVB, or, at Key’s option, Key may deposit such Funds into a court of competent
jurisdiction in an interpleader action.

3.             Amendment to UCC Financing Statement.  Upon receipt of this fully executed
Agreement, SVB shall file the following UCC financing statements on behalf of
SVB, as Secured Party:

(a)                                  
Amendment to Financing Statement, releasing SVB’s security interest in the SPV
Receivables and the proceeds thereof, naming Aspen Technology, Inc., as Debtor,
in the form of Exhibit B
hereto, to be filed with the Delaware Secretary of State; and

(b)                                 
Amendment to Financing Statement, releasing SVB’s security interest in the SPV
Receivables and the proceeds thereof, naming Aspentech, Inc., as Debtor, in the
form of Exhibit C hereto,
to be filed with the Texas Secretary of State.

SVB agrees to deliver any such UCC financing statement
partial releases reasonably requested by Aspen or Key to effectuate the terms
of paragraphs 1 and 3 hereof.

4.             Acknowledgement. 
The Borrower maintains a lockbox with SVB identified as follows: “Aspen
Technology Inc. Box 83048, Woburn, MA 01813-3048” (the “Lockbox Account”).  The Lockbox Account proceeds are currently
transferred directly to a collection account maintained at SVB in the name of
Aspen Technology, Inc. identified as Account No. 3300388202 (the “ Domestic
Collection Account”).   In addition,
certain wires are transferred to a separate collection account maintained at
SVB in the name of Aspen Technology, Inc. identified as Account No. 3300388217
(collectively with the Domestic Collection Account, the “Collection Account”).  SVB acknowledges that the Borrower and Key
have advised SVB that SPE II shall, upon acquisition of interests in the SPV
Receivables, grant or has granted Key a security interest in the SPV
Receivables and the proceeds thereof, and that the Lockbox Account and the
Collection Account may contain certain or all of the Funds, which are the
proceeds of the SPV Receivables.

5.             Entire Agreement. 
This Agreement (including Exhibits hereto) sets forth the entire
agreement between the Parties with respect to the subject matter hereof, and
supersedes all prior negotiations, understandings and agreements between the
Parties concerning such subject matter. 
No amendment or modification of this Agreement shall

 

 

be effective against a Party except by a writing
signed by authorized representative of such Party.

6.             No Responsibility/Indemnification.  (a) 
The Borrower and the Parties signing below confirm and agree:

(i)                                     that
SVB is not undertaking to take any action with respect to the Lockbox Account,
or Collection Account, except as set forth in the agreements between SVB and
the Borrower pertaining thereto, and except as provided herein.

(ii)                                  
that SVB shall not have any duties or responsibilities except such duties and
responsibilities as are specifically set forth in this Agreement and no covenants
or obligations shall be implied in this Agreement against SVB.

(b)                                 The
Borrower confirms and agrees:

(i)                                     to
indemnify SVB and its directors, officers, employees and agents harmless
against:  (i) all obligations, demands,
claims, and liabilities asserted by any party or person in connection with the
transactions contemplated by this Agreement; and (ii) all losses incurred, or
paid by SVB from, following, or consequential to transactions relating to this
Agreement.

7.             Governing Law. 
This Agreement shall be governed and interpreted in accordance with the
laws of the Commonwealth of Massachusetts, without regard to principles of
conflict of laws, under the law of the Commonwealth of Massachusetts.

[Remainder of Page Intentionally Left Blank]

 

 

In witness whereof, the parties have executed this
Agreement as of the date first written above.

 

	
  SILICON VALLEY BANK

  
	
   

  
	
  By:

  	
  /s/ Michael
  Tramack

  	
   

  
	
  Name: 

  	
  Michael Tramack

  	
   

  
	
  Title: 

  	
  Senior Vice
  President

  	
   

  
	
   

  	
   

  
	
  ASPEN TECHNOLOGY,
  INC.

  
	
   

  
	
  By: 

  	
  /s/ Leo S.
  Vannoni

  	
   

  
	
  Name: 

  	
  Leo S. Vannoni

  	
   

  
	
  Title: 

  	
  Treasurer

  	
   

  
	
   

  	
   

  
	
  AGREED AND
  ACKNOWLEDGED:

  
	
   

  	
   

  
	
  KEY EQUIPMENT
  FINANCE, INC., as agent

  
	
   

  	
   

  
	
  By: 

  	
  /s/ Donald C.
  Davis

  	
   

  
	
  Name: 

  	
  Donald C. Davis

  	
   

  
	
  Title: 

  	
  Vice President

  	
   

  

 

 

 

Exhibit A

All of the
Receivables, Collections and all proceeds thereof, in each case, as more
particularly described below.

“Collections” means, with respect to any
Receivable, all funds paid by or on behalf of the related obligor of such
Receivable in payment of any amounts owed (including, without limitation,
purchase or sale prices, principal, finance charges, interest and all other
charges) in respect of such Receivable.

“Receivable” means all indebtedness and other
obligations identified on Schedule I 
hereto (“Assets”), owed to Aspen Technology, Inc. or any affiliate
thereof, including, without limitation, any indebtedness, obligation or
interest relating to the Assets, and further including, without limitation, all
rights to payment of such indebtedness or obligation arising under the related
contract with respect to the Assets,  and
the obligation to pay any finance charges with respect to the Assets.Exhibit 10.7

Aspen
Technology, Inc.

Terms
and Conditions of Stock Option Agreement

Granted Under 2001 Restated Stock Option Plan

1.             Grant
of Option.

These
terms and conditions together with the notice of grant of stock option (the “Notice”)
set forth on the cover page to which they are attached constitute an Agreement
evidencing the grant by Aspen Technology, Inc., a Delaware corporation (the “Company”),
on the grant date set forth in the Notice (the “Grant Date”) to the employee
named in the Notice (the “Participant”), of an option to purchase, in whole or
in part, on the terms provided herein and in the Company’s 2001 Restated
Stock Option Plan (the “Plan”), the number of shares (the “Shares”) of common
stock, $0.10 par value per share,
of the Company (“Common Stock”) set forth on the Notice, at a strike price set
forth per Share set forth in the Notice. 
Unless earlier terminated, this Agreement shall expire at 5:00 p.m.,
Eastern Time, on the Expiration Date set forth in the Notice (the “Final
Exercise Date”).

To
the extent permitted by the Code (as defined below) and designated in the
Notice, it is intended that the option evidenced by this Agreement shall be an
incentive stock option as defined in Section 422 of the Internal Revenue Code
of 1986, as amended, and any regulations promulgated thereunder (the “Code”) or
a nonqualified stock option, to the extent designated in this Notice.

2.             Vesting Schedule.

The
options granted hereunder will vest according to the schedule set forth on the
Notice. The right of exercise shall be cumulative so that to the extent the
option is not exercised in any period to the maximum extent permissible it
shall continue to be exercisable, in whole or in part, with respect to all
Shares for which it is vested until the earlier of the Final Exercise Date or
the termination of this Agreement.

3.             Exercise of Option.

(a)           Form of Exercise.  Each election to exercise this Agreement
shall be in the manner permitted by the Plan and, to the extent not
inconsistent therewith, the Company’s third party stock incentive plan
administrator.

(b)           Continuous
Relationship with the Company Required. 
Except as otherwise provided in this Section 3 or in the Plan, this
Agreement may not be exercised unless the Participant, at the time he or she exercises
this Agreement, is, and has been at all times since the Grant Date, an employee
or officer of, or consultant or advisor to, the Company or any parent or
subsidiary of the Company as defined in Section 424(e) or (f) of the Code (an “Eligible
Participant”).

(c)           Termination of
Relationship with the Company. 
Except as otherwise provided in the Plan, if the Participant ceases to
be an Eligible Participant for any reason, then, except as provided in
paragraphs (d) and (e) below, the right to exercise this Agreement shall
terminate three months
after such cessation (but in no event after the Final Exercise Date), provided
that this Agreement shall be exercisable only to the extent that the
Participant was entitled to exercise this Agreement on the date of such
cessation.  Notwithstanding the
foregoing, if the Participant, prior to the Final Exercise Date, violates the
non-competition or confidentiality provisions of any employment contract,
confidentiality and nondisclosure agreement or other agreement between the
Participant and the Company, the right to exercise this Agreement shall
terminate immediately upon such violation.

 
 

 

 

(d)           Exercise Period
Upon Death or Disability.  Unless
otherwise agreed by the Company and the Participant, if the Participant dies or
becomes disabled (within the meaning of Section 22(e)(3) of the Code)
prior to the Final Exercise Date while he or she is an Eligible Participant and
the Company has not terminated such relationship for “cause” as specified in
paragraph (e) below, this Agreement shall be exercisable, within the period of
one year following the date of death or disability of the Participant, by the
Participant (or in the case of death by an authorized transferee), provided
that this Agreement shall be exercisable only to the extent that this Agreement
was exercisable by the Participant on the date of his or her death or
disability, and further provided that this Agreement shall not be
exercisable after the Final Exercise Date.

(e)           Termination for
Cause.  If, prior to the Final
Exercise Date, the Participant’s employment is terminated by the Company for
Cause (as defined below), the right to exercise this Agreement shall terminate
immediately upon the effective date of such termination of employment, unless
otherwise agreed by the Company and the Participant.  If the Participant is party to an employment
or severance agreement with the Company that contains a definition of “cause”
for termination of employment, “Cause” shall have the meaning ascribed to such
term in such agreement.  Otherwise, “Cause”
shall have the meaning set forth in the Plan.

4.             Tax Matters.

(a)           Withholding.  No Shares will be issued pursuant to the
exercise of this Agreement 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 to be withheld in respect of
this Agreement.

(b)           Disqualifying
Disposition.  To the extent the
option is an incentive stock option, if the Participant disposes of Shares
acquired upon exercise of this Agreement within two years from the Grant Date
or one year after such Shares were acquired pursuant to exercise of this
Agreement, the Participant shall notify the Company in writing of such
disposition.

5.             Nontransferability of Option.

Except
as otherwise provided by the Plan, this Agreement may not be sold, assigned,
transferred, pledged or otherwise encumbered by the Participant, either
voluntarily or by operation of law, except by will or the laws of descent and
distribution, and, during the lifetime of the Participant, this Agreement shall
be exercisable only by the Participant.

6.             Provisions of the Plan.

This
Agreement is subject to the provisions of the Plan.

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