Document:

Exhibit 10.8

Aspen
Technology, Inc.

Terms
and Conditions of Stock Option Agreement

Granted Under 2005 Stock Incentive 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 2005 Stock
Incentive 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 under Section 3 hereof or the Plan.

3.             Exercise of Option.

(a)           Form of Exercise.  Each election to exercise this Agreement
shall be in the manner permitted by the Company’s third party stock incentive plan
administrator.  If no such third party
administrator is administering the Plan at such time, such election shall be in
writing, signed by the Participant and received by the Company at its principal
office, accompanied by this Agreement and payment in full in the manner
provided in the Plan, or as otherwise provided in the Plan.  The Participant may purchase less than the
number of shares covered hereby, provided that no partial exercise of
this Agreement may be for any fractional share.

(b)           Continuous
Relationship with the Company Required. 
Except as otherwise provided in this Section 3, 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.  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 mean (i) any willful failure by the Participant, which failure is not
cured within 30 days of written notice to the Participant from the Company, to
perform his or her material responsibilities to the Company, or (ii) willful
misconduct by the Participant that affects the business reputation of the
Company, in either case as determined by the Company, which determination shall
be conclusive.

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.

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.

 2Exhibit 10.9

ASPEN TECHNOLOGY,
INC.

Restricted Stock Unit Agreement

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. 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 may 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:

  	
   

  
	
   

  	
   

  	
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