Document:

EXHIBIT 4.2

 EXHIBIT 4.2  
  
 Form of Restricted Stock Award under the 
 New Hampshire Thrift Bancshares, Inc. 2004 Stock Incentive Plan 

 New Hampshire Thrift Bancshares, Inc. 
 2004 Stock Incentive Plan 
 RESTRICTED STOCK AWARD NOTICE

  

			
	

	 Name of Award Recipient
	 	Social Security Number

  

	
	

	Street Address

  

					
	

	City	 	State	 	ZIP Code

  
 This Restricted Stock Award Notice is
intended to set forth the terms and conditions on which an Award has been granted under the New Hampshire Thrift Bancshares, Inc. 2004 Stock Incentive Plan. Set forth below are the specific terms and conditions applicable to this Award. Attached as
Exhibit A are its general terms and conditions. 
  

											
	 Restricted Stock Award

	  	(A)

	  	(B)

	  	(C)

	  	(D)

	  	(E)

	 Effective Date
	  	 	  	 	  	 	  	 	  	 
	 Class of Shares*
	  	Common	  	Common	  	Common	  	Common	  	Common
	 No. of Awarded Shares*
	  	 	  	 	  	 	  	 	  	 
	 Type of Award (Escrow or Legended Certificate)
	  	 	  	 	  	 	  	 	  	 
	 Vesting Date*
	  	 	  	 	  	 	  	 	  	 

	*	Subject to adjustment as provided in the Plan and the General Terms and Conditions. 

  
 By signing where indicated below, New Hampshire Thrift Bancshares, Inc. (the “Company”) grants this Award upon the specified terms
and conditions, and the Award Recipient acknowledges receipt of this Restricted Stock Award Notice, including Exhibit A, and agrees to observe and be bound by the terms and conditions set forth herein and acknowledges receipt of a Prospectus
dated May 18, 2004 for the New Hampshire Thrift Bancshares, Inc. 2004 Stock Incentive Plan. 
  

									
	NEW HAMPSHIRE THRIFT BANCSHARES, INC.	 	 	 	 	 	AWARD RECIPIENT
					
	By:	 	 	 	 	 	 	 	 
	 	 	
	 	 	 	 	 	

	 	 	 Name:
 Title:
	 	 	 	 	 	 
					
	 	 	 	 	 	 	 	 	 
	

  
 Instructions: This page should
be completed by or on behalf of the Compensation Committee. Any blank space intentionally left blank should be crossed out. An Award consists of shares granted with uniform terms and conditions. Where shares granted under an Award are awarded on the
same date with varying terms and conditions (for example, varying vesting dates), the awards should be recorded as a series of grants each with its own uniform terms and conditions. 

 EXHIBIT A 
  
 NEW HAMPSHIRE THRIFT BANCSHARES, INC.

 2004 STOCK INCENTIVE PLAN 
 RESTRICTED STOCK AWARD  
  
 General Terms and Conditions 
  
 Section 1. Size and Type of Award. The shares of Common Stock, par value $.01 per share, of New Hampshire Thrift Bancshares, Inc.
(“Shares”) covered by this Award (“Awarded Shares”) are listed on this Restricted Stock Award Notice. Your Restricted Stock Award Notice designates the Awarded Shares as either “Escrow” or “Legended
Certificate”. 
  
 (a) Legended
Certificate. If your Awarded Shares are designated “Legended Certificate,” a stock certificate evidencing the Awarded Shares will be issued in your name. The stock certificate will bear a legend indicating that it is subject to
all of the terms and conditions of this Award Notice and the Plan. You may elect to be taxed on the Fair Market Value of the Awarded Shares as of the date they are placed in the brokerage account in your name, pursuant to section 83(b) of the
Internal Revenue Code of 1986. You must make this election in writing, in the manner required by applicable Internal Revenue Service Regulations, and file it with the Internal Revenue Service and the Company within 30 days after the date on which
the Awarded Shares are placed in your brokerage account. 
  
 (b) Escrow. If your Awarded Shares are designated “Escrow,” the Awarded Shares will either be held in the name of the Plan Funding Agent on a pooled basis with other Awarded Shares that
have been designated “Escrow,” or they will be evidenced by a legended stock certificate in your name that will be held on your behalf. You will not be permitted to elect to be taxed currently on the Fair Market Value of the Awarded Shares
and instead will be subject to income tax on the Awarded Shares as and when they become vested. 
  
 Section 2. Vesting. 
  
 (a) Vesting Dates. The Vesting Dates for your Awarded Shares are specified on this Award Notice. On each Vesting
Date, you will obtain unrestricted ownership of the Awarded Shares that vest on that Vesting Date. A stock certificate (or a book entry listing) evidencing your unrestricted ownership of the vested Awarded Shares will be distributed to you or placed
in a brokerage account on your behalf. If a legended stock certificate evidencing these Awarded Shares was previously placed in your brokerage account, it will be exchanged for an unrestricted certificate or book entry listing. 
  
 (b) Forfeitures. If you terminate
service with the Company prior to a Vesting Date, you will forfeit any Awarded Shares that are scheduled to vest on that date. Your service with the Company will not be treated as having terminated for vesting purposes if you continue as a director
emeritus of the Company. When you forfeit Awarded Shares, all of your interest in the Awarded Shares will be canceled and any stock certificate or other evidence of ownership that was placed in a brokerage account for you will be returned to the
Plan Funding Agent to be used for future awards to others. You agree to take any action and execute and deliver any document that the Company requests to effect the return of your unvested Awarded Shares. In the event you do not cooperate with the
Company in this regard, you hereby appoint and designate the Company as your attorney-in-fact for the purpose of taking any action and signing any document, in your name, which the Company determines is necessary to enforce the forfeiture.

  
 (c) Accelerated Vesting.
Your Awarded Shares that have not previously vested and are scheduled to vest in the next six months will become fully vested immediately, and without any further action on your part, in the event of your death or Disability before your termination
of service with the Company. Similarly, all of your outstanding Awarded Shares that have not vested will become fully and immediately vested in the event a Change of Control occurs before you terminate service with the Company. You may designate a
Beneficiary to receive any Awarded Shares that vest upon your death using the Beneficiary Designation attached as Appendix A. 
  
 (d) Definition of Service. For purposes of determining the vesting of your Awarded Shares, you will be deemed to be
in the service of the Company for so long as you serve in any capacity as an employee, officer, non-employee director or consultant of the Company or Lake Sunapee Bank, fsb. 
  
 Section 3. Dividends. If your Awarded Shares are in the form of Legended Certificates, any dividends
declared by the Company with a record date that is after the Effective Date specified in this Award Notice will be credited to your brokerage account for your benefit on an unrestricted basis. If your Awarded Shares are designated
“Escrow”, you will receive the dividends on an unrestricted basis, but they will be paid to you by, and will be taxable in the same manner as other compensation paid to you by, the Company; by signing this Award Notice and accepting its
terms, you direct the Compensation Committee and/or the Plan Funding Agent to remit to the Company for payment to you any dividends that either of them may receive as the record holder of your unvested Awarded Shares. 
  
 Section 4. Voting Rights. You shall have the right to
control all voting rights relating to all unvested Awarded Shares. If your Awarded Shares are placed in your brokerage account, you will receive proxy materials for voting in the same manner as other shareholders with Shares in brokerage accounts.
If your unvested Awarded Shares are held by the Compensation Committee or the Plan Funding Agent, such entity will ask you for voting directions and will follow your directions in voting your unvested Awarded Shares. 
  
 Section 5. Amendment. This Award Notice may be amended,
in whole or in part and in any manner not inconsistent with the provisions of the Plan, at any time and from time to time, by written agreement between you and the Company. 
  
 Section 6. Plan Provisions Control. This Award Notice, and the rights and obligations created
hereunder, shall be subject to all of the terms and conditions of the Plan. In the event of any conflict between the provisions of the Plan and the provisions of this Award Notice, the terms of the Plan, which are incorporated herein by reference,
shall control. By signing this Award Notice, you acknowledge receipt of a copy of the Plan and a copy of the Prospectus for the Plan dated May 18, 2004. 

 APPENDIX A TO RESTRICTED STOCK
AWARD NOTICE 
 NEW HAMPSHIRE THRIFT
BANCSHARES, INC. 
 2004 STOCK INCENTIVE PLAN 

 
 Beneficiary Designation Form 
  

			
	GENERAL	  	 
	INFORMATION	  	Use this form to designate the Beneficiary(ies) who will receive Shares available for distribution at the time of your death.

  

							
	 Name of
 Award Recipient
	  	 	  	Social Security Number	  	            –            –          
      
	 	 	
	 	 	 	 

  

			
	 BENEFICIARY
	  	Complete sections A and B. If no percentage shares are specified, each Beneficiary in the same class (primary or contingent) shall have an equal share. If any designated
Beneficiary predeceases you, the shares of each remaining Beneficiary in the same class (primary or contingent) shall be increased proportionately.
	 DESIGNATION
	  
	 	  

  
 A. PRIMARY BENEFICIARY(IES). I
hereby designate the following person as my primary Beneficiary under the Plan, reserving the right to change or revoke this designation at any time prior to my death: 
  

										
	Name	  	Address	  	Relationship	  	Birthdate	  	Share	 
	 	  	
  

  

  

  

  

	  	 	  	 	  	        	%
	
	  	  	
	  	
	  	
	

	 	  	  	 	  	 	  	        	%
	
	  	  	
	  	
	  	
	

	 	  	  	 	  	 	  	        	%
	
	  	  	
	  	
	  	
	

	 	  	  	 	  	 	  	Total=100	%

  
 B. CONTINGENT BENEFICIARY(IES).
I hereby designate the following person(s) as my contingent Beneficiary(ies) under the Plan to receive benefits only if all of my primary Beneficiaries should predecease me, reserving the right to change or revoke this designation at any time
prior to my death with respect to all outstanding Awarded Shares: 
  

										
	Name	  	Address	  	Relationship	  	Birthdate	  	Share	 
	 	  	
  

  

  

  

  

	  	 	  	 	  	        	%
	
	  	  	
	  	
	  	
	

	 	  	  	 	  	 	  	        	%
	
	  	  	
	  	
	  	
	

	 	  	  	 	  	 	  	        	%
	
	  	  	
	  	
	  	
	

	 	  	  	 	  	 	  	Total=100	%
		
	     S    H
     I     E
     G   R
     N   E
	  	I understand that this Beneficiary Designation shall be effective only if properly completed and received by the Compensation Committee of New Hampshire Thrift Bancshares, Inc.
prior to my death, and that it is subject to all of the terms and conditions of the Plan. I also understand that an effective Beneficiary designation revokes my prior designation(s) with respect to all outstanding Awarded Shares.	     

  

									
	 	 	
	 	 	 	
	 	 
	 	  	Your Signature	  	 	  	Date	  	 

  
 Internal Use Only

  

			
	This Beneficiary Designation was received by the Compensation Committee of New Hampshire Thrift Bancshares, Inc. on the date indicated.	 	Comments

  

									
	 	  	 	 	 	  	 	  	 
	By	  	 	 	 	  	 	  	 
	 	 	
	 	 	 	
	 	 
	 	  	                    Authorized Signature              
      	 	 	  	            DateFORM OF EXECUTIVE AGREEMENT

 EXHIBIT 10.1 
  
 FORM OF EXECUTIVE AGREEMENT 
  
 The following Executive Agreement has been entered into with the following officers effective as of the dates indicated opposite their
name: 
  

					
	 Executive Officer

	  	 Effective Date

	  	 Expiration Date

			
	 Barry F. Cohen
 Executive Vice President, Strategic Services and
 partners
	  	 January 21, 2003
	  	 February 25, 2006

			
	 Paul J. Cunningham
 Executive Vice President, Worldwide Sales
	  	 January 21, 2003
	  	 February 25, 2006

			
	 Anthony DiBona
 Executive Vice President, Maintenance
	  	 March 3, 2004
	  	 March 3, 2007

			
	 James E. Heppelmann
 Executive Vice President and Chief Product
 Officer
	  	 January 21, 2003
	  	 February 25, 2006

			
	 Cornelius F. Moses
 Executive Vice president and Chief Financial
 Officer
	  	 June 24, 2003
	  	 February 25, 2006

			
	 Aaron C. von Staats
 Senior Vice President, General Counsel & Clerk
	  	 March 3, 2004
	  	 March 3, 2007

 EXECUTIVE AGREEMENT 
  
 This Agreement is entered into as of the      day of         ,
                     between Parametric Technology Corporation, a Massachusetts corporation (the “Company”), and [Executive], [Address]
(the “Executive”). 
  
 WHEREAS, the Executive is the
[Executive Title] of the Company; and 
  
 WHEREAS, to provide
incentive for the Executive to remain with the Company, the Company desires to make the following arrangements with the Executive concerning certain payments and benefits to be provided to the Executive in the event of the termination of his
employment without cause or in the event of certain other events specified herein; 
  
 NOW, THEREFORE, the Company and the Executive hereby agree as follows: 
  
 1.    Termination Notice.    The Company agrees that it may not terminate the employment of the Executive
unless (i) it does so for Cause (as defined below) or (ii) the Company has delivered to the Executive a written notice of such termination of employment (the “Termination Notice”) at least twelve (12) months in advance of the effective
date thereof. The duties of the Executive during the period from the date of delivery of a Termination Notice until the termination of his employment shall be as determined by the Board of Directors. 
  
 2.    Salary and Benefits. 
  
 (a)    During the period from the date
of delivery of a Termination Notice (the “Notice Date”) until the earlier of (i) the date twelve (12) months after the Notice Date, or (ii) the date the Executive commences employment with another company or organization, it being agreed
that the Executive shall immediately notify the Company of such event (the “Severance Period”), and so long as the Executive is in compliance with the terms of this Agreement and any material provision of any other written agreement with
the Company, the Company shall (A) pay to the Executive, per normal payroll practice, a salary (the “Severance Period Salary”) at a rate equal, on an annualized basis, to the highest annual salary (excluding any bonuses) in effect with
respect to the Executive during the six month period immediately preceding the Termination Notice and (B) provide the Executive with employee benefits, including health insurance, dental insurance, life insurance, participation in the Company’s
401(k) plan and Employee Stock Purchase Plan and short-term and long-term disability coverage, pursuant to the same terms and conditions under which the Company makes such benefits available to employees generally, all subject to the terms and
conditions of the respective plans and applicable law (collectively, the “Severance Period Benefits”). 
  
 (b)    In the event that (i) there is a Change in Control (as defined below) of the Company and (ii) within twelve
(12) months thereafter, a Change in Status (as defined below) of the Executive occurs, and so long as the Executive is in compliance with the terms of this Agreement and any material provision of any other written agreement with the Company, the
Company shall pay the Severance Period Salary and provide the Severance Period Benefits to the Executive during the period from the effective date of the Change in Status until the earlier of (i) the date twelve (12) months after such date or (ii)
the date the Executive commences employment with another company or organization, it being agreed that the Executive shall immediately notify the Company of such event. Such compensation and benefits, and those provided under Section 3, shall be in
lieu of any other compensation and benefits to the Executive with respect to any continuing employment during such period, and the Company shall have no obligation to make any payments or provide any benefits to the Executive under Section 2(a)
above. 
  
 3.    Stock Options and Other
Equity Awards.    Effective upon a Change in Control, (i) all outstanding stock options and stock appreciation rights (“SARs”) granted under any Stock Plan (as defined below) held by Executive shall immediately
become exercisable in full, (ii) all restrictions applicable to restricted stock held by Executive under any Stock Plan shall immediately lapse, and (iii) all other criteria for vesting of any award granted under any Stock Plan and held by Executive
shall be deemed to have been met, notwithstanding any 

  

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vesting schedule or other provisions to the contrary in the agreements evidencing such stock options, SARs, restricted stock or other award. The Company and
Executive hereby agree that such agreements are hereby and will be deemed amended to give effect to this provision. 
  
 4.    Definitions. 
  
 (a)    The Company shall be deemed to have terminated the Executive’s employment for “Cause” if it does
so (i) for the Executive’s willful and continued failure to substantially perform his duties to the Company (other than any such failure resulting from the Employee’s incapacity due to physical or mental illness or any such actual or
anticipated failure after a Change in Status of the Executive), provided that the Company has delivered a written demand for substantial performance to the Executive specifically identifying the manner in which the Company believes that the
Executive has not substantially performed his duties, and that the Executive has not cured such failure within 30 days after such demand, (ii) for willful conduct by the Executive which is demonstrably and materially injurious to the Company, (iii)
because the Executive has been convicted of, or has pled guilty or nolo contendere to, a felony or (iv) for the Executive’s willful violation of any material provision of any confidentiality, nondisclosure, assignment of invention,
noncompetition or similar agreement entered into by the Executive in connection with his employment by the Company. For purposes of this paragraph, no act or failure to act on the Executive’s part shall be deemed “willful” unless done
or omitted to be done by the Executive not in good faith and without reasonable belief that his action or omission was in the best interests of the Company. 
  
 (b)    A “Change in Control” of the Company shall mean the occurrence of any of the following events: (i)
any “person”, as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) (other than the Company, any trustee or other fiduciary holding securities under an employee
benefit plan of the Company, or any corporation owned directly or indirectly by the stockholders of the Company in substantially the same proportion as their ownership of stock in the Company) is or becomes the “beneficial owner” (as
defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing 50% or more of the combined voting power of the Company’s then outstanding securities (other than as a result of acquisitions of
such securities from the Company); (ii) individuals who, as of the date hereof, constitute the Board of Directors of the Company (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board, provided that any
person becoming a director subsequent to the date hereof whose election, or nomination for election by the Company’s stockholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board (other than an
election or nomination of an individual whose initial assumption of office is in connection with an actual or threatened election contest relating to the election of the directors of the Company) shall be, for purposes of this Agreement, considered
to be a member of the Incumbent Board; (iii) the consummation of a merger, share exchange or consolidation of the Company or any subsidiary of the Company with any other corporation (each a “Business Combination”), other than (A) a
Business Combination that 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 another entity) beneficial
ownership, directly or indirectly, of a majority of the combined voting power of the Company or the surviving entity (including any person that, as a result of such transaction, owns all or substantially all of the Company’s assets either
directly or through one or more subsidiaries) outstanding immediately after such Business Combination or (B) a merger, share exchange or consolidation effected to implement a recapitalization of the Company (or similar transaction) in which no
“person” (as defined above) is or becomes the beneficial owner of 50% or more of the combined voting power of the Company’s then outstanding securities; or (iv) the stockholders of the Company approve (A) a plan of complete
liquidation of the Company; or (B) an agreement for the sale or disposition by the Company of all or substantially all of the Company’s assets but excluding a sale or spin-off of a product line, business unit or line of business of the Company
if the remaining business is significant as determined by the Company’s board of directors in its sole discretion. 
  

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 (c)    A “Change in Status” of the Executive shall mean the
occurrence, without the Executive’s written consent and without Cause, of any of the following circumstances (unless such circumstances constitute an isolated, insubstantial and inadvertent action not taken in bad faith and are fully remedied
by the Company within 30 days after receipt of notice thereof by the Executive): (i) any diminution or change in a manner adverse to the Executive of (A) his title, office or position with the Company, (B) his salary or other benefits (other than
diminutions that are made generally with respect to substantially all executives of similar rank), or (C) his duties, responsibilities or employment condition, (ii) the Company’s requiring the Executive (without his consent) to be based at any
office or location more than fifty (50) miles from the location of his principal office on the date of this Agreement, or (iii) the failure by the Company to pay to the Executive any portion of his compensation within ninety (90) days after such
compensation is due. 
  
 (d)    A “Stock Plan” of the Company shall mean any stock option or equity compensation plan of the Company in effect at any time, including without limitation the 1987 Incentive Stock Option Plan, the 1997
Incentive Stock Option Plan, the 1997 Nonqualified Stock Option Plan and the 2000 Equity Incentive Plan. 
  
 5.    Taxes. 
  
 (a)    Withholding.    All payments to be made to the Executive under this Agreement will
be subject to any required withholding of federal, state and local income and employment taxes. 
  
 (b)    Payment Limitation.    Notwithstanding anything in this Agreement to the contrary,
if the Company determines, based on the opinion of its independent accountants serving as such immediately prior to the Change in Control (the “Accounting Firm”), that any of the payments provided for in this Agreement, together with any
other payments that must be included in such determination, would constitute an “Excess Parachute Payment” (as defined in Section 280G (or any successor provision thereof) of the Internal Revenue Code of 1986, as amended (the
“Code”), and proposed and final regulations thereunder), the payments pursuant to this Agreement shall be reduced to the maximum amount that would permit a determination that the Executive has not received an Excess Parachute Payment (the
“Maximum Amount”) unless the after-tax amount payable to the Executive hereunder without regard to the foregoing limitation (“Uncapped After-Tax Amount,” as defined below) exceeds the after-tax amount payable to the Executive
with regard to such limitation (“Capped After-Tax Amount,” as defined below) by 10% or more. Any such determination or reduction in amounts payable pursuant to this Agreement shall be made in accordance with the following provisions.

  
 (i)    For purposes of
determining whether the amounts payable to the Executive pursuant to this Agreement shall be reduced to the Maximum Amount, the following terms shall have the meaning indicated. 
  
 (A)    The “Uncapped After-Tax Amount” shall be equal to the sum of the
amounts payable pursuant to this Agreement (without regard to this paragraph 5(b)) and pursuant to all benefit and compensation plans and arrangements that must, pursuant to the Code, be included in determining whether an Excess Parachute Payment
has been made, less the Income Tax Amount on such sum and the 20% excise tax under Section 4999 of the Code that would be due on all Excess Parachute Payments. 
  

(B)    The “Capped After-Tax Amount” shall be equal to the sum of the Maximum Amount and all amounts
payable pursuant to all benefit and compensation plans and arrangements that must, pursuant to the Code, be included in determining whether an Excess Parachute Payment has been made, less the Income Tax Amount on such sum. 
  
 (C)    The “Income Tax
Amount” shall be equal to the amount of federal, state and local income taxes and the Executive’s share of Federal Insurance Contributions Act taxes that would be due on a payment (after taking into account the deductibility of state and
local income taxes for federal income tax purposes) if the highest marginal federal, state and local income tax rate in effect at the time of the Change in Control were imposed on the value of the payments, assuming 

  

 4 

 
that the amounts payable pursuant to this Agreement and all benefit and compensation plans and arrangements shall be treated as paid in full on the date of
the Change in Control. 
  
 (ii)    If the Accounting Firm determines that payments pursuant to this Agreement should be reduced to the Maximum Amount, the Company shall promptly give the Executive notice to that effect and a copy of the detailed
calculation thereof, and the Executive may then elect, in his sole discretion, which and how much of the payments shall be eliminated or reduced (as long as, after such election, the present value of the aggregate payments equals the Maximum
Amount), and shall advise the Company in writing of his election within 10 days of his receipt of notice. If no such election is made by the Executive within such period, the Company may elect which and how much of the payments shall be eliminated
or reduced (as long as, after such election, the present value of the aggregate payments equals the Maximum Amount) and shall notify the Executive promptly of such election. All determinations made by the Accounting Firm under this paragraph 5 shall
be (i) based upon Sections 280G and 4999 of the Code (or successor provisions thereof) and on proposed or final regulations for applying those Code sections, or on substantial authority within the meaning of Section 6662 of the Code, (ii) binding
upon the Company and the Executive and (iii) made within 60 days of the Notice Date. As promptly as practicable following such determination, the Company shall pay to or distribute for the Executive’s benefit such payments as are then due to
the Executive under this Agreement and shall promptly pay to or distribute for the Executive’s benefit in the future such payments as become due to the Executive under this Agreement. 
  
 (iii)    As a result of possible
uncertainty in the application of Section 280G of the Code at the time of the determinations by the Accounting Firm hereunder, amounts may be paid that should not be paid (“Overpayment”), or additional amounts may not be paid that could be
paid (“Underpayment”), in each case, consistent with the calculations required to be made hereunder. In the event that the Internal Revenue Service asserts a deficiency against the Executive or the Company in such a case and the Accounting
Firm determines that an Overpayment has been made, the Executive shall reimburse the Company the amount of such Overpayment together with interest at the applicable federal rate under Section 7872(f)(2)(B) of the Code within 60 days (or such shorter
period as may be required by law) after receipt by the Executive of written notice of such determination by the Accounting Firm, including the amount of the Overpayment and interest calculation; provided, however that no such amount shall be payable
by the Executive to the Company if and to the extent such reimbursement is prohibited by applicable law or would not eliminate either the excise tax under Section 4999 of the Code or the disallowance of the deduction under Section 280G(a) of the
Code, for the amounts previously paid to the Executive. In the event that the Accounting Firm determines that an Underpayment has been made, the Company shall promptly pay such Underpayment to the Executive, together with interest at the applicable
federal rate provided for in Section 7872(f)(2)(B) of the Code. 
  
 6.    Term.    This Agreement shall continue in effect until                     ,
             unless extended by the mutual written consent of the Company and the Executive. 
  
 7.    Successor. 
  
 (a)    This Agreement is personal to the Executive and without the prior written consent of the Company shall not be
assignable by the Executive otherwise than by will or the laws of descent and distribution. 
  
 (b)    This Agreement shall inure to the benefit of and be binding upon the Company and its successors and assigns.

  
 (c)    The Company will
require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company to assume expressly and agree to perform this Agreement in the same manner
and to the same extent that the Company would be required to perform it if no such succession had taken place. As used in this Agreement, “Company” shall mean the Company as defined above and any successor to its business and/or assets as
aforesaid which assumes and agrees to perform this Agreement. 
  

 5 

 8.    Miscellaneous. 
  
 (a)    This Agreement shall be governed
by and construed in accordance with the laws of the Commonwealth of Massachusetts, without reference to principles of conflict of laws. 
  
 (b)    This Agreement may not be amended or modified otherwise than by a written agreement executed by the parties
hereto or their respective successors and legal representatives. 
  
 (c)    This Agreement constitutes the entire understanding and agreement between the parties hereto with regard to the compensation and benefits payable to the Executive in the circumstances
described herein, superseding all prior understandings and agreements, whether oral or written. 
  
 (d)    The Company agrees to pay as incurred and within 20 days after submission of supporting documentation, to the
full extent permitted by law, all legal fees and expenses the Executive may reasonably incur as a result of any contest (regardless of the outcome thereof) by the Company, the Executive or others of the validity or enforceability of, or liability
under, any provision of this Agreement (including as a result of any contest by the Executive about the amount of any payment pursuant to this Agreement), but not more than an aggregate of $50,000, in the event the Company prevails thereon plus in
each case interest on any delayed payment at the applicable Federal rate provided for in Section 7872(f)(2)(A) of the Code. 
  
 (e)    All notices and other communications hereunder shall be in writing and shall be delivered by hand delivery, by
a reputable overnight courier service, or by registered or certified mail, return receipt requested, postage prepaid, in each case addressed as follows: 
  

	
	If to the Company:
	
	 Parametric Technology Corporation

	 140 Kendrick Street

	 Needham, MA 02494

	 Attention: General Counsel

	
	 If to the Executive:

	 
	 
	 

  
 or to such other address as either
party shall have furnished to the other in writing in accordance herewith. Any notice or communication shall be deemed to be delivered upon the date of hand delivery, one day following delivery to an overnight courier service, or three days
following mailing by registered or certified mail. 
  
 EXECUTED as of the date
first written above. 
  

			
	 PARAMETRIC TECHNOLOGY CORPORATION

		
	 By:
	 	  

	 Title:
	 	 
	
	  

	 Name:
	 	 

  

 6

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