Document:

EXHIBIT  10.11

July 1, 2002

Quentin  T.  Kelly
117  Hopewell-Rocky  Hill  Road
Hopewell,  NJ  08525

Re:  Employment  Agreement  dated  January  1,  2002  Amendment

As  per  the  Compensation Committee with approval of the Board of Directors the
above  referenced  Employment  Agreement  has  been  amended  as  follows:

Annual salary is $25,200 accruing the difference (Base $150,000 - accrue   year)
beginning  July  1,  2002  through the remainder of the year or until sufficient
cash  flow  is  available  to  pay  additional  salary.

Effective  July  1,  2002  stock  options continue to accrue at a rate of 10,000
options  per month exercisable at $0.15 as per the market price at July 1, 2002.
Effective July 1, 2002 an additional 1,190,000 options exercisable at $0.15 have
been  granted  and  vested  immediately.

In  addition  a  Restricted  Stock  Agreement will be implemented (see attached)
granting  1,000,000  shares  vesting  over 5 years exercisable at $0.15 (current
market  price).

Agreed  and  Signed  by:         Approved  by  WorldWater  Corp.
                                 Board  of  Directors  Compensation  Committee:

/s/ Quentin T. Kelly             /s/ Davinder Sethi
Quentin  T.  Kelly                 Dr.  Davinder  Sethi
Chairman  and  CEO
WorldWater  Corp.

                                  /s/ Joseph Cygler
                                      Joseph  Cygler

<PAGE>EXHIBIT  10.12

                           RESTRICTED STOCK AGREEMENT
                           --------------------------

THIS  AGREEMENT,  dated  as  of  July  1, 2002 (the "Grant Date") by and between
WorldWater  Corp.  and  Quentin  T.  Kelly  (the  "Grantee"), is entered into as
follows:

WHEREAS,  the  Compensation  Committee  of the Board of Directors of the Company
determined  that the Employee be granted shares of the Company's $.001 par value
Common  Stock  subject  to  the  restrictions  stated below, as reflected in the
Employment  Agreement  Amendment  dated July 1, 2002 by and between the Employee
and  the  Company  and  as  hereinafter  set  forth:

1.     Grant of Restricted Stock.  Subject to the restrictions contained in this
agreement  (the  "Agreement")  WorldWater Corp. (the "Company") hereby grants to
Quentin  T.  Kelly  (the  "Grantee"), effective July 1, 2002 (the "Grant Date"),
1,000,000  shares  of  restricted  Common  Stock  (the "Shares").  The Board has
determined  that the fair market value of the Common Stock of the Company on the
Grant  Date  is  $0.15  per  share.

2.     Vesting.  Provided  that  Grantee  remains  an  Employee or member of the
Board  of  Directors  of  the Company, Grantee shall become vested in 20% of the
Shares  upon  each  anniversary  of the Grant Date, so that the Grantee shall be
100%  vested  in  5  years.

3.     Termination of Award.  If the Grantee's employment or Board membership is
terminated  for  any  reason,  unless  otherwise  determined by the Compensation
Committee,  the  Grantee  will  forfeit  any  unvested  shares.

4.     Non-transferability  of  Award.  The Grantee may not transfer either this
award  or  any  Shares acquired pursuant to this award except in accordance with
the  terms of this Agreement or by will or the laws of descent and distribution;
provided that, Grantee may gift the Shares, or some portion of the Shares, to an
immediate  family  member,  to  a trust for the benefit of such persons, or to a
partnership  in  which only such persons are partners.  Any transferee of Shares
must  agree  in writing, on a form prescribed by the Company, to be bound by all
provisions  of this Agreement and the Plan, and following any such transfer, the
terms  of  the  grant  shall remain the same except that the transferee shall be
considered  the  Grantee.  The  transferability  of  such  Shares  shall also be
limited by any legend on the certificate(s) representing such Shares restricting
the  transferability  of  the  Shares.

5.     Right  to Vote and to Receive Dividends.  The Grantee will have the right
to vote unvested Shares and receive any dividends or other distributions paid on
unvested  Shares.

6.     Taxes.  The  Employee  shall  be  liable for any and all taxes, including
withholding  taxes, arising out of this grant or the vesting of Stock hereunder.
The  Employee may elect to satisfy such withholding tax obligation by having the
Company  retain  Stock having a fair market value equal to the Company's minimum
withholding  obligation.

7.     Amendments.  The  Board  may  from  time  to time amend the terms of this
Agreement  to  the  extent  it  deems  appropriate;  provided that any amendment
adverse to the Grantee shall be effective only if consented to by the Grantee in
writing.

8.     Grant  Not to Affect Employment or Service.  The Shares granted hereunder
shall not confer upon Grantee any right to continue in the employment or service
of  the  Company,  its  Subsidiaries  or  Affiliates.

9.     Securities  Laws.  The  Board may from time to time impose any conditions
on  the  Shares  as  it  deems  necessary or advisable to ensure that all rights
granted  under  this Agreement satisfy the requirements of applicable securities
laws.

10.     Entire  Agreement.  This  Agreement  constitutes the entire agreement of
the  parties  with  respect  to  the  subject  matter  hereof.  This  Agreement
supersedes  all prior discussions, negotiations, understandings, commitments and
agreements  with  respect  to  such  matters.

11.     Governing  Law.  To  the  extent  not  preempted  by  federal  law, this
Agreement  shall be governed by and construed in accordance with the laws of the
State  of  New  Jersey.

WorldWater  Corp.
Compensation  Committee
By:  Dr.  Davinder  Sethi           By:  Joseph  Cygler

/s/ Davinder Sethi                 /s/ Joseph Cygler

I  have read the above Agreement and hereby accept the above award and the terms
and  conditions  of  this  agreement  and I agree to be bound thereby and by the
actions  of  the  Board.

Recipient
By:  Quentin  T.  Kelly

/s/ Quentin T. Kelly

<PAGE>QuickLinks
 -- Click here to rapidly navigate through this document
  

Exhibit 10.1  

 
 

C.S. Pringle
  EMPLOYMENT AGREEMENT    
    

        AGREEMENT dated April 1, 2002 between Aspen Technology, Inc., a Massachuestts corporation located at 10 Canal Park, Cambridge, Massachusetts (the
"Company"), and C.S. Pringle (the "Employee"). 

	1.
	Employment. The Company and the Employee have agreed to the reassignment of Employee to the position of Senior Vice President of the
Accenture/AspenTech Alliance. The Employee's responsibilities include the general management of the development and go to market activities for the alliance. This position is headquartered in Houston,
Texas. The Employee agrees, while employed hereunder, to perform his duties faithfully and to the best of his ability.

	2.
	Term. The term of this agreement shall begin on the date set forth above and shall continue through the earlier of (a) the third
anniversary of the date of this Agreement or (b) the occurrence of a Termination Date, as defined in Section 6 (the "Term").

	3.
	Compensation.

	3.1.
	As
compensation for the Employee's services during the Term, the Company shall pay the Employee an annual base salary, initially at the rate of $230,000 per year.

	3.2.
	The
Employee shall be covered by the cash bonus plan currently maintained by the Company for its executive officers as such plan is subsequently modified or replaced. The target
amount of this bonus is initially at the rate of $170,000 per year.

	4.
	Termination Date; Consequences for Compensation and Benefits

	4.1.
	Definition of Termination Date. The first to occur of the following events shall be the Termination Date:

	4.1.1.
	The
date on which the Employee becomes entitled to receive long-term or short-term disability payments by reason of total and permanent disability;

	4.1.2.
	The
Employee's death;

	4.1.3.
	Voluntary
resignation;

	4.1.4.
	Voluntary
resignation for Good Reason;

	4.1.5.
	Discharge
of the Employee by the Company after one of the following events shall have occurred, which event shall be specified to the Employee by the Company at the time of
discharge: material willful misconduct in the discharge of his duties, conviction of the Employee or the entry of a plea of guilty or no contest by the Employee to any felony, or any material breach
of any term of this Agreement by the Employee which is not cured within 30 days after written notice from the Board of Directors of the Company to the Employee setting forth the nature of the
breach ("Discharge for Cause");

	4.1.6.
	Discharge
of the Employee by the Company not accompanied by a notice of cause described in Section 4.1.5 ("General Discharge").

	4.2.
	Definition of "Good Reason". "Good Reason" means that (a) Employee has been assigned duties inconsistent with his status as a
senior executive officer of AspenTech, or there has been a meaningful adverse alteration in the nature or status of his responsibilities, (b) his annual base salary, together with any bonus
program targets, is reduced, (c) Employee has been transferred to a location other than Houston, Texas without his consent, (d) Change in 

1

 

Control
and this Agreement is not continued in effect by the subsequent owner, or (e) AspenTech fails to continue to provide you with benefits or participation in compensation plans which
continue to be provided to senior executive officers of AspenTech. A "Change in Control" shall be deemed to have occurred if any person is or becomes the beneficial owner, directly or indirectly, of
securities of the Company representing twenty-five percent or more of the combined voting power of the Company's then outstanding voting, there is a change in control of the Company of a
nature that would be required to be reported on Form 8-K or items 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 the Company is then subject to such reporting requirement, excluding however (i) a merger or consolidation which would result in the
voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving 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 the Company 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 the company (or similar transaction) in which no person acquired
twenty-five percent or more of the combined voting power of the Company's then outstanding securities. 

	4.3.
	Consequences for Compensation and Benefits. If the Termination Date occurs pursuant to Section 4.1.1, 4.1.2, 4.1.3 or 4.1.5,
the Company shall pay base salary to the Employee through the Termination Date and shall pay to the Employee all Benefits accrued through the Termination Date, payable in accordance with the
respective terms of the plans, practices and arrangements under which the Benefits were accrued. If termination of employment occurs pursuant to Section 4.1.4 or 4.1.6, the Employee shall be
entitled to receive compensation on the same terms and conditions (including but not limited to the Stock Option program) as set forth herein for a period of three years from the Termination Date,
continuation of all health and medical benefits until Employee becomes eligible under another plan with a subsequent employer.

	4.4.
	Liquidated Damages; No Duty to Mitigate Damages. The amounts payable pursuant to Section 4.2 shall be deemed liquidated damages
for the early termination of this Agreement and shall be paid to the Employee regardless of any income the Employee may receive from any other employer, and the Employee shall have no duty of any kind
to seek employment from any other employer during the balance of the Term. The Employee further agrees that the amounts payable pursuant to Section 4.2 after the Termination Date may be
withheld by the Company upon a material breach by the Employee of his obligations under Section 5 (Agreement Not to Compete) or Section 6 (Agreement Not to Solicit).

	4.5.
	Stock Options. The Company hereby confirms that, all of the stock options Employee has received as of the date hereof were granted
under the stock option plans, and that, in accordance with the terms and conditions of the 1995 Stock Option
Plan, upon a Change in Corporate Control as defined in such plan, each outstanding stock option immediately becomes fully exercisable.

	5.
	Agreement Not to Compete. The Employee agrees that, while serving as an Employee of the Company, he will not serve as an employee or
director of any business entity other than the Company and its affiliates, but may serve as a director of a reasonable number of not-for-profit corporations and may devote a
reasonable amount of time to charitable and community service. 

2

 

For
the period beginning on the Termination Date and continuing until one year after the Termination Date, the Employee shall not work 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 solicit 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. 

	6.
	Agreement Not to Solicit. For the period beginning on the Termination Date and continuing until the one year following any Termination
Date, regardless of the reason, the Employee shall not solicit any employee of the Company or an affiliate to leave such employment and to provide services to the Employee or any business entity by
which the Employee is employed or in which the Employee has a material financial interest. Soliciting a former employee of the Company or an affiliate to provide such services shall not be a violation
of this Agreement.

	7.
	Confidential Information. Unless the Employee shall first secure consent of the Company, the Employee shall not disclose or use, either
during or after the Term, any secret or confidential information of the Company or any affiliate, whether or not developed by the Employee, except as required by his duties to the Company or the
affiliate.

	8.
	Arbitration. In the event that either party hereto has any claim hereunder, the party shall promptly notify the other party of such
claim. If within 30 days of the receipt of such notice of claim, the parties cannot agree on a resolution of such claim, the parties agree to submit such dispute to binding arbitration to be
held in Boston, Massachusetts under the rules of the American Arbitration Association. Any such arbitration shall be conducted by three arbitrators, one of whom shall be selected by the Employee, one
of whom shall be selected by the Company and one of whom shall be selected by the arbitrators so selected. The expenses of any such arbitration shall be paid by the non-prevailing party,
as determined by the final order of the arbitrators.

	9.
	Entire Agreement; Amendment. This Agreement constitutes the entire agreement of the parties and 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.

	10.
	Binding Obligations. This Agreement shall be binding upon and inure to the benefit of the Company and their successors and assigns and
the Employee and his personal representatives.

	11.
	Assignability. Neither this Agreement nor any benefits payable to the Employee hereunder shall be assigned, pledged, anticipated, or
otherwise alienated by the Employee, or subject to attachment or other legal process by any creditor of the Employee, and notwithstanding any attempted assignment, pledge, anticipation, alienation,
attachment, or other legal process, any benefit payable to the Employee hereunder shall be paid only to the Employee or his estate.

	12.
	Governing Law. This Agreement shall be governed by the laws of the Commonwealth of Massachusetts. 

        IN
WITNESS WHEREOF, the Company and the Employee have signed and sealed this Agreement as of the date first written above. 

	C.S. Pringle	 	ASPEN TECHNOLOGY, INC.
	

/s/ Steven Pringle	
 	

By:	
 	

/s/ illegible
	
	 	 	 	

	 	 	Title:	 	 
	 	 	 	 	

3

QuickLinks

C.S. Pringle EMPLOYMENT AGREEMENT

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00053-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00053-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00053-of-00352.parquet"}]]