Document:

Second Amendment to Employment Agreement between Ansys and James Cashman

 Exhibit 10.1 
 Second Amendment 
 To 

Employment Agreement 
 WHEREAS, ANSYS, Inc., a Delaware corporation (the “Company”) entered into an Employment Agreement with James E. Cashman III (the “Employee”) as of the 21st day of April 2003, as amended on November 6, 2008 (the
“Agreement”); and 
 WHEREAS, the Company and the Employee each desire to amend the Agreement in order to
reflect modifications to the stock option grants made to the Employee in the future and to add a fixed term to the Agreement. 

NOW, THEREFORE, in consideration of the mutual promises and covenants herein contained, the parties hereto agree to amend the Agreement
as follows: 
 1. Section 2 (paragraph following the heading “Term of Employment”) is hereby deleted in its entirety and replaced
with the following: 
 “The Company hereby continues to employ the Employee and the Employee hereby accepts such continued
employment, for the term commencing as of March 18, 2011 and continuing for a five-year period (the “Current Term”), unless sooner terminated in accordance with the provisions of Section 6; with such employment to automatically
continue following the Current Term for additional one-year periods in accordance with the terms of this Agreement (subject to termination as aforesaid) unless either party notifies the other party in writing of its intention not to renew this
Agreement at least sixty (60) days prior to the expiration of the Term (the Current Term, together with any such extension of employment hereunder, shall be referred to as the “Term”). For the avoidance of doubt, a non-renewal of this
Agreement by the Company in accordance with this Section 2 will constitute a termination of employment by the Company without Cause under Section 6(d).” 
 2. Section 7(a) (paragraph following the heading “Stock Options”) is hereby amended by deleting the first sentence thereof in its entirety and replacing it with the following: 

“In the case of a Change of Control, (i) all stock options to purchase stock of the Company held by the Employee that were
granted to the Employee prior to February 17, 2011 shall become fully exercisable and vested upon the effective date of and immediately prior to the consummation of the Change of Control and (ii) all stock options to purchase stock of the
Company held by the Employee that were granted to the Employee on or after February 17, 2011 shall be subject to Section 3(c) of the Company’s Fourth Amended and Restated 1996 Stock Option and Grant Plan, as

 
amended, and to the extent such stock options are assumed or continued and thereafter remain in effect following such Change of Control, then such stock options shall become fully exercisable and
vested upon the date on which the Employee’s employment with the Company and its subsidiaries or successor entity terminates if such termination occurs during the 18-month period following the occurrence of the Change of Control and such
termination is either by the Company for any reason other than for Cause, death or disability, or there is (A) a diminution in the Employee’s responsibilities, authority or duties, (B) a diminution in the Employee’s Base Salary,
target Incentive Bonus or equity compensation, (C) a change in the geographic location at which the Employee provides services to the Company or (D) a material breach of this Agreement by the Company and, in the case of (A), (B),
(C) or (D), the Employee notifies the Company in writing of the occurrence of such event within sixty (60) days of its occurrence, the Employee cooperates in good faith with the Company’s efforts during the Cure Period to remedy the
condition, notwithstanding such efforts the condition continues to exist, and the Employee terminates his employment within sixty (60) days after the end of the Cure Period.” 
 3. Except as amended herein, the terms of the Agreement shall remain in full force and effect. 
 [Remainder of page intentionally left blank.] 

 IN WITNESS WHEREOF, the parties have executed this Second Amendment to Employment Agreement
under seal as of the 18th day of March, 2011. 
  

			
	COMPANY:
	
	ANSYS, INC.
		
	By:	 	 /s/ Peter J. Smith

		 	Name: Peter J. Smith
		 	Title: Chairman
	
	EMPLOYEE:
	
	 /s/ James E. Cashman III

	James E. Cashman IIIFirst Amendment to Letter Agreement between Ansys and Maria Shields

 Exhibit 10.2 
 First Amendment 
 To 

Letter Agreement 
 WHEREAS, ANSYS, Inc., a Delaware corporation (the “Company”) entered into a Letter Agreement with Maria T. Shields (the “Employee”) as of the 22nd day of December, 2003 (the “Agreement”); and

 WHEREAS, the Company and the Employee each desire to amend the Agreement in order to reflect modifications to the stock
option grants made to the Employee in the future. 
 NOW, THEREFORE, in consideration of the mutual promises and covenants
herein contained, the parties hereto agree to amend the Agreement as follows: 
 1. Section (a) (paragraph following the heading
“Stock Options”) is hereby amended by deleting the first sentence thereof in its entirety and replacing it with the following: 
 “ In the case of a Transaction, (i) all stock options to purchase stock of the Company held by the Employee that were granted to the Employee prior to February 17, 2011 shall become fully
exercisable and vested upon the effective date of and immediately prior to the consummation of the Transaction and (ii) all stock options to purchase stock of the Company held by the Employee that were granted to the Employee on or after
February 17, 2011 shall be subject to Section 3(c) of the Company’s Third Amended and Restated 1996 Stock Option and Grant Plan, as amended, and to the extent such stock options are assumed or continued and thereafter remain in effect
following such Transaction, then such stock options shall become fully exercisable and vested upon the date on which the Employee’s employment with the Company and its subsidiaries or successor entity terminates if such termination occurs
during the 18-month period following the occurrence of the Transaction and such termination is either by the Company for any reason other than for Cause, death or disability, or there is (A) a diminution in the Employee’s responsibilities,
authority or duties, (B) a diminution in the Employee’s Base Salary, target Incentive Bonus or equity compensation, (C) a change in the geographic location at which the Employee provides services to the Company or (D) a material
breach of this Agreement by the Company and, in the case of (A), (B), (C) or (D), the Employee notifies the Company in writing of the occurrence of such event within sixty (60) days of its occurrence, the Employee cooperates in good faith
with the Company’s efforts during the Cure Period to remedy the condition, notwithstanding such efforts the condition continues to exist, and the Employee terminates his employment within sixty (60) days after the end of the Cure
Period.” 

 2. Except as amended herein, the terms of the Agreement shall remain in full force and effect. 

IN WITNESS WHEREOF, the parties have executed this First Amendment to Letter Agreement under seal as of the 14th day of March, 2011. 

 

					
	COMPANY:
	
	ANSYS, INC.
		
	By:	 	 /s/ James E. Cashman III

		 	Name:	 	James E. Cashman III
		 	Title:	 	President and Chief Executive Officer
	
	EMPLOYEE:
	
	 /s/ Maria T. Shields

	Maria T. ShieldsConsent of the Compensation and Stock Option Committee of the Ansys Board of Dir

 Exhibit 10.3 
 ANSYS, Inc. 
 UNANIMOUS WRITTEN CONSENT IN LIEU OF MEETING

 OF THE COMPENSATION AND STOCK OPTION 
 COMMITTEE OF THE BOARD OF DIRECTORS 
 March 14, 2011

 The undersigned, being all the members of the Compensation and Stock Option Committee (the “Committee”) of the
Board of Directors of ANSYS, Inc. (the “Company”), hereby consent to the adoption of the following resolutions and agree that said resolutions shall have the same effect as if duly adopted at a meeting of the Committee held for that
purpose: 
  

			
	RESOLVED:	 	To approve the Second Amendment to Employment Agreement between the Company and James E Cashman III in the form attached as Exhibit A.
		
	RESOLVED:	 	To approve the First Amendment to Letter Agreement between the Company and Maria T. Shields in the form attached as Exhibit B.
		
	RESOLVED:	 	To approve the change of control provision in all stock option agreement for Peter J. Smith, Chairman, dated on or after February 17, 2011 as set forth in Exhibit
C.
		
	RESOLVED:	 	To approve the Non-Qualified Stock Option Agreement for Directors in the form attached as Exhibit D.
		
	RESOLVED:	 	To approve the Incentive Stock Option Agreement in the form attached as Exhibit E.
		
	RESOLVED:	 	To approve the Non-Qualified Stock Option Agreement in the Form attached as Exhibit F.

 Executed as of the date set forth above. 

 

	
	 /s/ John F. Smith 

	 John F. Smith

	
	 /s/ Bill McDermott

	 Bill McDermott

	
	 /s/ Jacqueline C. Morby

	 Jacqueline C. Morby

 EXHIBIT C 
 “In the case of a Transaction, (i) all stock options to purchase stock of the Company held by the Employee that were granted to the Employee prior to February 17, 2011 shall become fully
exercisable and vested upon the effective date of and immediately prior to the consummation of the Transaction and (ii) all stock options to purchase stock of the Company held by the Employee that were granted to the Employee on or after
February 17, 2011 shall be subject to Section 3(c) of the Company’s Third Amended and Restated 1996 Stock Option and Grant Plan, as amended, and to the extent such stock options are assumed or continued and thereafter remain in effect
following such Transaction, then such stock options shall become fully exercisable and vested upon the date on which the Employee’s employment with the Company and its subsidiaries or successor entity terminates if such termination occurs
during the 18-month period following the occurrence of the Transaction and such termination is either by the Company for any reason other than for Cause, death or disability, or there is (A) a diminution in the Employee’s responsibilities,
authority or duties, (B) a diminution in the Employee’s Base Salary, target Incentive Bonus or equity compensation, (C) a change in the geographic location at which the Employee provides services to the Company or (D) a material
breach of this Agreement by the Company and, in the case of (A), (B), (C) or (D), the Employee notifies the Company in writing of the occurrence of such event within sixty (60) days of its occurrence, the Employee cooperates in good faith
with the Company’s efforts during the Cure Period to remedy the condition, notwithstanding such efforts the condition continues to exist, and the Employee terminates his employment within sixty (60) days after the end of the Cure
Period.”

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