Letter Amendment to FY04 Executive Compensation Plan between Aspen Technology, Inc. and Manolis E. Kotzabasakis

Summary

Aspen Technology, Inc. and Manolis E. Kotzabasakis, Senior Vice President, amended their prior compensation agreement to confirm that Mr. Kotzabasakis will receive an option to purchase 298,488 shares of AspenTech common stock. This amendment acknowledges his voluntary reduction in the number of shares to increase the general employee option pool. The amendment states that this grant fully satisfies AspenTech's obligation to grant stock options under the original agreement, with all other terms remaining unchanged.

EX-10.64 12 a2119422zex-10_64.htm EXHIBIT 10.64
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Exhibit 10.64

[AspenTechnology Letterhead/Logo]

August 18, 2003

Manolis E. Kotzabasakis
Senior Vice President, Engineering Business Unit

Dear Manolis:

This letter amendment references the letter agreement between you and AspenTech dated June 24, 2003 (the "Agreement") regarding your FY04 Executive Compensation Plan. Under the terms of the Agreement, AspenTech agreed that it would grant you an option to purchase the number of shares of AspenTech common stock specified in the Agreement, contingent upon stockholder approval of the Advent transaction (the "Option"). As you know, the Advent transaction was approved by AspenTech stockholders and closed on August 14, 2003.

AspenTech acknowledges that you have voluntarily agreed to reduce the number of shares subject to the Option to which you were entitled in order to make more options available for the general employee option pool. You hereby confirm, by execution of this letter amendment, that the option granted to you on August 18, 2003 for 298,488 shares of AspenTech common stock constitutes full satisfaction of AspenTech's obligations under the Agreement to grant the Option and that the terms of the Agreement do not entitle you to any additional stock option grants. All other terms of the Agreement, including those contingent upon the closing of the Advent transaction, remain in full force and effect.

Best regards,        

/s/  HELEN MOYE      

 

/s/  MANOLIS KOTZABASAKIS      

 

Sept. 26, 2003

 
 
Helen Moye   Manolis E. Kotzabasakis   Date
Sr. VP Human Resources
Aspen Technology, Inc.
  Senior Vice President, Engineering Business Unit    



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    Exhibit 10.64