<SUBMISSION>
<ACCESSION-NUMBER>0000857005-09-000016
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>3
<PERIOD>20090304
<ITEMS>5.02
<ITEMS>5.03
<ITEMS>9.01
<FILING-DATE>20090310
<DATE-OF-FILING-DATE-CHANGE>20090310
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>PARAMETRIC TECHNOLOGY CORP
<CIK>0000857005
<ASSIGNED-SIC>7372
<IRS-NUMBER>042866152
<STATE-OF-INCORPORATION>MA
<FISCAL-YEAR-END>0930
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>000-18059
<FILM-NUMBER>09670408
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>140 KENDRICK STREET
<CITY>NEEDHAM
<STATE>MA
<ZIP>02494
<PHONE>7813705000
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>140 KENDRICK STREET
<CITY>NEEDHAM
<STATE>MA
<ZIP>02494
</MAIL-ADDRESS>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<TITLE> </TITLE>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>UNITED STATES</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>SECURITIES AND EXCHANGE COMMISSION</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>WASHINGTON, DC 20549</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>FORM 8-K</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>CURRENT REPORT PURSUANT</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>TO SECTION 13 OR 15(D) OF THE</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>SECURITIES EXCHANGE ACT OF 1934</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>


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<table border="0" cellspacing=0 cellpadding=0 width="638" style='border-collapse:collapse'>
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        <td width="319" valign=top style='border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt'>
<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Date of report (Date of earliest event reported)</font></p> </td>

        <td width="319" valign=top style='border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt'>
<p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=2>March 4, 2009</font></b></p> </td> </tr>
    <tr >

        <td  colspan="2" valign=top style=' padding:0in 5.4pt 0in 5.4pt'>
<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >

        <td  colspan="2" valign=top style=' border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt'>
<p
style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Parametric Technology Corporation</font></b></p> </td> </tr>
    <tr >

        <td  colspan="2" valign=top style=' padding:0in 5.4pt 0in 5.4pt'>
<p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>(Exact Name of Registrant as Specified in Its Charter)</font></p> </td> </tr>
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        <td  colspan="2" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >

        <td  colspan="2" valign=top style=' border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt'>
<p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Massachusetts</font></b></p> </td> </tr>
    <tr >

        <td  colspan="2" valign=top style=' padding:0in 5.4pt 0in 5.4pt'>
<p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>(State or Other Jurisdiction of Incorporation)</font></p> </td> </tr>
    <tr >

        <td  colspan="2" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >

        <td width="319" valign=top style='border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt'>
<p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=2>0-18059</font></b></p> </td>

        <td width="319" valign=top style='border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt'>
<p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=2>04-2866152</font></b></p> </td> </tr>
    <tr >

        <td width="319" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
<p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>(Commission File Number)</font></p> </td>

        <td width="319" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
<p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>(IRS Employer Identification No.)</font></p> </td> </tr>
    <tr >

        <td  colspan="2" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >

        <td width="319" valign=top style='border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt'>
<p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=2>140 Kendrick Street</font></b></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Needham, Massachusetts</font></b></p> </td>

        <td width="319" valign=top style='border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt'>
<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>
<p style='margin-left:0pt;text-indent:85.5pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=2>02494-2714</font></b></p> </td> </tr>
    <tr >

        <td width="319" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
<p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>(Address of Principal Executive Offices)</font></p> </td>

        <td width="319" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
<p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>(Zip Code)</font></p> </td> </tr>
    <tr >

        <td  colspan="2" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >

        <td  colspan="2" valign=top style=' border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt'>
<p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=2>(781) 370-5000</font></b></p> </td> </tr>
    <tr >

        <td  colspan="2" valign=top style=' padding:0in 5.4pt 0in 5.4pt'>
<p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>(Registrant&#146;s Telephone Number, Including Area Code)</font></p> </td> </tr>
    <tr >

        <td  colspan="2" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >

        <td  colspan="2" valign=top style=' border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt'>
<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >

        <td  colspan="2" valign=top style=' padding:0in 5.4pt 0in 5.4pt'>
<p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>(Former Name or Former Address, if Changed Since Last Report)</font></p> </td> </tr></table>
</div>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>


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<p style='margin-left:0pt;text-indent:12.75pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (</font><i><font size=2>see </font></i><font size=2>General Instruction A.2. below):</font></p> </td> </tr>
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<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
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        <td width="32" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
<p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face=Wingdings>o</font></p> </td>

        <td width="606" valign=top>
<p style='padding:0in 5.4pt 0in 5.4pt'>
<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></p> </td> </tr>
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<p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>

        <td width="606" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
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        <td width="32" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
<p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face=Wingdings>o</font></p> </td>

        <td width="606" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></p> </td> </tr>
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<p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>

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<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
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<p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face=Wingdings>o</font></p> </td>

        <td width="606" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></p> </td> </tr>
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<p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>

        <td width="606" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
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<p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face=Wingdings>o</font></p> </td>

        <td width="606" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></p> </td> </tr></table>
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<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.25in;text-align:center;'><font face="Arial" size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

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<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.25in;text-align:center;'>
<b><font size=2>Section 5 &#150; Corporate Governance and Management</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.25in;text-align:justify;'><font size=2>&nbsp;</font></p>


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<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Item 5.02.</font></b></p> </td>

        <td  valign=top >
<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</font></b></p> </td> </tr></table>
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<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.25in;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><u><b><font size=2>Appointment of President and Chief Operating Officer</font></b></u></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.25in;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.25in;text-align:left;'><font size=2>On March&nbsp;4, 2009, the Board of Directors separated the positions of Chief Executive Officer and President of PTC and appointed C. Richard Harrison, 53, as Chairman and Chief Executive Officer of PTC and James&nbsp;E. Heppelmann, 44, as President and Chief Operating Officer of PTC.  Mr.&nbsp;Harrison had held the position of Chief Executive Officer and President of PTC since March&nbsp;2000.  Mr.</font><font face="Arial" size=2>&nbsp;</font><font size=2>Heppelmann, who had held the position of Executive Vice President, Chief Product Officer of PTC since February&nbsp;2003, is also a director of PTC.  He will report to Mr. Harrison.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.25in;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.25in;text-align:left;'><font size=2>In connection with such appointment, Mr. Heppelmann&#146;s annual salary was increased to $550,000, his annual target bonus was increased to $600,000 and his target long-term incentive compensation (generally awarded in the form of time-based and performance-based restricted stock units that vest over a three-year period to the extent earned) was increased to $3,000,000.  Accordingly, an additional grant of 22,179 restricted stock units was made to Mr. Heppelmann on March&nbsp;4, 2009 as a result of the increase in his target annual bonus.  These annual bonus restricted stock units will vest only if PTC achieves a non-GAAP operating dollar performance target for fiscal 2009 established in November&nbsp;2008.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.25in;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.25in;text-align:left;'><font size=2>No changes were made to Mr. Harrison&#146;s compensation and Mr. Harrison will not receive additional compensation for his service as Chairman of the Board.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.25in;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.25in;text-align:left;'><font size=2>We provide the following required disclosure of related party transactions with respect to Mr. Heppelmann.  Mr. Heppelmann&#146;s brother, Howard Heppelmann, is PTC&#146;s Vice President, General Manager of PTC&#146;s Synapsis division.  For fiscal 2009, Howard Heppelmann&#146;s annual salary is $160,000, his target annual bonus is $150,000, $36,005 of which was paid for first quarter 2009 performance, and his automobile allowance is $300 per month.  Howard Heppelmann is also eligible to participate in PTC&#146;s standard employee benefits packages and has received a matching contribution of $2,168 to date for 2009 under PTC&#146;s 401(k) Savings Plan.  PTC has recorded stock-based compensation expense of $26,951 to date in fiscal 2009 for equity awards made to him under PTC&#146;s equity incentive plans.  Information with respect to Howard Heppelmann&#146;s fiscal 2008 compensation is
incorporated herein by reference to the &#147;Transactions with Related Persons&#148; section of our proxy statement filed with the Securities and Exchange Commission on January 20, 2009.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.25in;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><u><b><font size=2>Appointment of Independent Lead Director</font></b></u></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.25in;text-align:left;'><font size=2>Mr. Noel Posternak, an independent director, was appointed Lead Independent Director.  Mr. Posternak previously served as Chairman of the Board of Directors until the appointment of Mr. Harrison to that position. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><u><b><font size=2>Resignation of Director</font></b></u></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.25in;text-align:left;'><font size=2>On March&nbsp;4, 2009, Mr. Oscar B. Marx, III, Chairman of the Audit Committee, gave notice of his intention to resign.  His resignation became effective on March&nbsp;9, 2009.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.25in;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.25in;text-align:left;'><font size=2>The Board of Directors has appointed Donald K. Grierson, a financially sophisticated independent director, to replace Mr. Marx as a member of the Audit Committee.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.25in;text-align:left;'><font size=2>&nbsp;</font></p>

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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><u><b><font size=2>Approval of Amendment to 2000 Equity Incentive Plan</font></b></u></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.25in;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.25in;text-align:left;'><font size=2>On March&nbsp;4, 2009, at the 2009 Annual Meeting of Stockholders, PTC stockholders approved an amendment to PTC&#146;s 2000 Equity Incentive Plan (2000 EIP) increasing by 7,500,000 the number of shares available for issuance under the 2000 EIP to 22,300,000.  All other terms and conditions of the 2000 EIP remained the same.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.25in;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.25in;text-align:left;'><font size=2>The 2000 EIP provides for grants of stock options, stock, restricted stock, restricted stock units and stock appreciation rights to employees (including our executive officers), directors and consultants capable of contributing to the success of PTC.  This description of the 2000 EIP is qualified in its entirety by the full text of 2000 EIP, which is attached to this Form 8-K as Exhibit 10 and incorporated into this description by this reference.  </font></p>

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<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.</font></b></p> </td> </tr></table>
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<p style=' margin-bottom:11pt; margin-top:0pt; text-indent:0.25in;text-align:left;'><font size=2>PTC amended its By-Laws effective March&nbsp;4, 2009 primarily to separate the positions of Chief Executive Officer and President and to describe their respective powers and responsibilities, as summarized below.  PTC also made additional administrative and typographical amendments to the By-Laws.  </font></p>

<p style=' margin-bottom:11pt; margin-top:0pt;text-align:left;'><font size=2>Article 2 &#150; Directors</font></p>

<p style=' margin-bottom:11pt; margin-top:0pt; text-indent:0.25in;text-align:left;'><font size=2>Section&nbsp;2.7 </font><u><font size=2>Resignation</font></u><font size=2> was amended to add the Chairman of the Board to the list of officers to which a director could tender his resignation.</font></p>

<p style=' margin-bottom:11pt; margin-top:0pt; text-indent:0.25in;text-align:left;'><font size=2>Section 2.17 </font><u><font size=2>Chairman of the Board and Vice-Chairman of the Board</font></u><font size=2> was added as a result of moving former Section&nbsp;3.7 to Article&nbsp;2 and limiting that section to appointments of a Chairman of the Board and a Vice Chairman of the Board.  The section was also amended to expressly provide that the duties of the Chairman of the Board include presiding at meetings of the directors and the stockholders.</font></p>

<p style=' margin-bottom:11pt; margin-top:0pt;text-align:left;'><font size=2>Article 3 &#150; Officers</font></p>

<p style=' margin-bottom:11pt; margin-top:0pt; text-indent:0.25in;text-align:left;'><font size=2>Section 3.1 </font><u><font size=2>Enumeration</font></u><font size=2> was amended to add the position of Chief Executive Officer to the list of the required officers of the corporation and delete Chairman of the Board and Vice Chairman of the Board from the list of officers that may be appointed by the Board of Directors or the Chief Executive Officer under that section.  </font></p>

<p style=' margin-bottom:11pt; margin-top:0pt; text-indent:0.25in;text-align:left;'><font size=2>Section 3.2 </font><u><font size=2>Election</font></u><font size=2> was amended to add the position of Chief Executive Officer to the list of officers to be elected annually by the Board of Directors. </font></p>

<p style=' margin-bottom:11pt; margin-top:0pt; text-indent:0.25in;text-align:left;'><font size=2>Section 3.4 </font><u><font size=2>Tenure</font></u><font size=2> was amended to add the Chief Executive Officer to the list of officers whose tenure is described in that section.</font></p>

<p style=' margin-bottom:11pt; margin-top:0pt; text-indent:0.25in;text-align:left;'><font size=2>Section 3.6 </font><u><font size=2>Vacancies</font></u><font size=2> was amended to provide that any vacancy occurring in any office may be filled &#147;by or under the authority of the Board of Directors,&#148; rather than only by the Board of Directors.</font></p>

<p style=' margin-bottom:11pt; margin-top:0pt; text-indent:0.25in;text-align:left;'><font size=2>Section 3.7 </font><u><font size=2>Chairman of the Board and Vice Chairman of the Board</font></u><font size=2> was deleted and substantially all of its content moved to Section 2.17.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.25in;text-align:left;'><font size=2>Section&nbsp;3.7 </font><u><font size=2>Chief Executive Officer</font></u><font size=2> was renumbered and re-titled from Section&nbsp;3.8 </font><u><font size=2>President</font></u><font size=2>.  This section was amended to substitute the Chief Executive Officer in place of the President as the officer who shall have general </font><font face="Arial" size=2>charge and supervision of the business of the corporation</font><font size=2>.  The section was also amended to delete the sentences providing that President would be the chief executive officer of the </font></p>

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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>corporation unless the Board of Directors had designated the Chairman of the Board or another officer as Chief Executive Officer and otherwise providing for duties of the President.</font></p>

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<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.25in;text-align:left;'><font size=2>Section 3.8 </font><u><font size=2>President</font></u><font size=2> was added to describe the position of President of the corporation.  Under this section, the President is subject to the direction of the Chief Executive Officer and shall have the general charge and supervision of the business of the corporation and shall possess such other powers as the Chief Executive Officer may prescribe.  The section further provides that if no Chief Executive Officer has been appointed, or if the Chief Executive Officer is absent, unable or refuses to act, the President shall perform the duties of the Chief Executive Officer.</font></p>

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<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.25in;text-align:left;'><font size=2>Section 3.9</font><u><font size=2>Vice Presidents</font></u><font size=2> was amended to add the President to the list of officers who may prescribe the duties and powers of vice presidents of the corporation and to delete the sentence providing that vice presidents of the corporation may perform the duties of the President of the corporation if the President is absent, unable or refuses to act.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.25in;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>Article 4 &#150; Capital Stock</font></p>

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<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.25in;text-align:left;'><font size=2>Section 4.2</font><u><font size=2>Certificate of Stock; Uncertificated Shares</font></u><font size=2> was amended to add the Chief Executive Officer to the list of officers that may sign certificates for shares of stock of the corporation.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.25in;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.25in;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.25in;text-align:center;'><b><font size=2>Section 9 - Financial Statements and Exhibits</font></b></p>

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<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>(d)</font></p> </td>

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<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><i><font size=2>Exhibits</font></i><font size=2>.</font></p> </td> </tr></table>
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<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>3</font></p> </td>

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<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>By-Laws, as amended and restated, of Parametric Technology Corporation.</font></p> </td> </tr></table>
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<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>10</font></p> </td>

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<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>2000 Equity Incentive Plan.</font></p> </td> </tr></table>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>SIGNATURES</font></B></p>

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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</font></p>

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<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Parametric Technology Corporation</font></p> </td> </tr></table>
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<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=2>Date:  March 10, 2009</font></p> </td>

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<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>/s/ Aaron C. von Staats</font></p> </td>

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<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Aaron C. von Staats</font></p> </td>

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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2> </font><font SIZE=2>BY - LAWS</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font SIZE=2>OF</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt;text-align:center;'><font SIZE=2>PARAMETRIC TECHNOLOGY CORPORATION</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt;text-align:center;'><font size=2>ARTICLE 1 - Stockholders</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:0.67in; text-indent:0.5in;text-align:left;'><font size=2>1.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font size=2>Place of Meetings; Participation by Remote Communications</font></u><font size=2>.  Meetings of stockholders shall be held at the principal office of the corporation or such different place as is fixed by the Board of Directors or the Chief Executive Officer and stated in the notice of the meeting.  The corporation may permit stockholders and proxyholders not physically present at a meeting of stockholders to participate in and be deemed present in person and vote at the meeting by means of remote communications, provided that (a) the corporation shall have implemented reasonable measures (i) to provide such stockholders and proxyholders a reasonable opportunity to read or hear the proceedings of the meeting substantially concurrently with such proceedings and (ii) to verify that each person deemed
present and permitted to vote at the meeting by means of remote communication is a stockholder or proxyholder and (b) the corporation shall maintain a record of each vote cast or other action taken at the meeting by means of remote communication.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:0.67in; text-indent:0.5in;text-align:left;'><font size=2>1.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font size=2>Annual Meeting</font></u><font size=2>.  The annual meeting of stockholders shall be held on the date (which shall not be a legal holiday in the place where the meeting is to be held) and at the time fixed by the Board of Directors or the Chief Executive Officer and stated in the notice of the meeting. The annual meeting shall be held for the purpose of electing directors and such other purposes as are specified in the notice of meeting.  To the extent a stockholder is entitled as a matter of law independent of these By-Laws to propose nominations or other business to be considered at an annual meeting, such stockholder may do so only in compliance with these By-Laws and any other applicable requirements.  If no annual meeting is held in accordance with the foregoing provisions, a special meeting may be
held in lieu of the annual meeting, and any action taken at that special meeting shall have the same effect as if it had been taken at the annual meeting, and in such case all references in these By-Laws to the annual meeting of stockholders shall be deemed to refer to such special meeting.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:0.67in; text-indent:0.5in;text-align:left;'><font size=2>1.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font size=2>Special Meetings</font></u><font size=2>.  Special meetings of stockholders may be called by the Chief Executive Officer or by the Board of Directors. Upon written application, in accordance with these By-Laws and any other applicable requirements, of one or more stockholders who are entitled to vote and who hold at least 10% (or 40% in the event the corporation has a class of voting stock registered under the Securities Exchange Act of 1934, as amended) of the capital stock entitled to vote at the meeting, special meetings shall be called by the Secretary, or in the case of the death, absence, incapacity or refusal of the Secretary, by any other officer.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:0.67in; text-indent:0.5in;text-align:left;'><font size=2>1.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font size=2>Notice of Meetings; Waiver</font></u><font size=2>.  A written notice of each meeting of stockholders, stating the place, date and hour thereof, and the purposes for which the meeting is to be held, shall be given by the Secretary, Assistant Secretary or other person calling the meeting at least seven, and no more than sixty, days before the meeting to each stockholder entitled to vote at the meeting and to each stockholder who by law, by the Articles of Organization or by these By-Laws is entitled to such notice, by leaving such notice with him or at his residence or usual place of business, by mailing it postage prepaid and addressed to him at his address as it appears in the records of the corporation, or by electronic transmission. Whenever any notice is required to be given to a stockholder by law,
by the Articles of Organization or by these By-Laws, no such notice need be given if a written (including electronically transmitted) waiver of notice, executed before or after the meeting by the </font></p>

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<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:0.67in;text-align:left;'><font size=2>stockholder or his authorized attorney, is filed with the records of the meeting.  A stockholder&#146;s attendance at a meeting (i) waives objection to lack of notice or defective notice of the meeting, unless the stockholder at the beginning of the meeting objects to holding the meeting or transacting business at the meeting and (ii) waives objection to consideration of a particular matter at the meeting that is not within the purpose or purposes described in the meeting notice, unless the stockholder objects to considering the matter when it is presented.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:0.67in; text-indent:0.5in;text-align:left;'><font size=2>1.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font size=2>Quorum</font></u><font size=2>.  Unless the Articles of Organization otherwise provide, the holders of a majority of the shares of stock issued, outstanding and entitled to vote on any matter shall constitute a quorum with respect to that matter, except that if two or more voting groups are entitled to vote separately then, in the case of each such voting group, a quorum shall consist of the holders of a majority of the votes entitled to be cast on the matter by the voting group. Shares owned directly or indirectly by the corporation shall not be counted in determining the total number of shares outstanding for this purpose.  Shares once represented for any purpose at a meeting are deemed present for quorum purposes for the remainder of the meeting and for any adjournment of that meeting unless (i) the
stockholder attends solely to object to lack of notice, defective notice or the conduct of the meeting on other grounds and does not vote the shares or otherwise consent that such shares are to be deemed present, or (ii) in the case of an adjournment, a new record date is or shall be set for that adjourned meeting.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:0.67in; text-indent:0.5in;text-align:left;'><font size=2>1.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font size=2>Postponements; Adjournments</font></u><font size=2>.  Any meeting of stockholders may, before it is called to order, be postponed for any reason by the Board of Directors or Chief Executive Officer to any other date, time and place at which a meeting of stockholders may be held under these By-Laws.  Any meeting of stockholders may be adjourned to any other date, time and place at which a meeting of stockholders may be held under these By-Laws by the stockholders present or represented at the meeting, although less than a quorum, or by any officer entitled to preside or to act as clerk of such meeting, if no stockholder is present. It shall not be necessary to notify any stockholder of any adjournment. Any business that could have been transacted at any meeting of the stockholders as originally called may
be transacted at any postponement or adjournment of the meeting.  </font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:0.67in; text-indent:0.5in;text-align:left;'><font size=2>1.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font size=2>Voting and Proxies</font></u><font size=2>.  Each stockholder shall have one vote for each share of stock entitled to vote held of record by such stockholder and a proportionate vote for each fractional share so held, unless otherwise provided by the Articles of Organization. Stockholders may vote either in person or by written proxy dated not more than eleven months before the meeting named in the proxy. Proxies shall be filed with the clerk of the meeting, or of any adjourned meeting, before being voted. Except as otherwise limited by their terms, a proxy shall entitle the persons named in the proxy to vote at any adjournment of such meeting.  A stockholder may give a proxy by electronic transmission under procedures approved by the Board of Directors or the Chief Executive Officer designed to permit
determination that such transmission was authorized by the stockholder. A proxy with respect to stock held in the name of two or more persons shall be valid if executed by any one of them, unless at or prior to exercise of the proxy the corporation receives a specific written notice to the contrary from any one of them. A proxy purported to be executed by or on behalf of a stockholder shall be deemed valid unless challenged at or prior to its exercise.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:0.67in; text-indent:0.5in;text-align:left;'><font size=2>1.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font size=2>Action at Meeting</font></u><font size=2>.  When a quorum is present at any meeting, the holders of a majority of the stock present or represented and voting on a matter (or if there are two or more voting groups entitled to vote separately, then, in the case of each such voting group, the holders of a majority of the votes present or represented and voting on a matter), shall decide any matter to be voted on by the stockholders, except when a larger vote is required by law, the </font></p>

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<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:0.67in;text-align:left;'><font size=2>Articles of Organization or these By-Laws. Any election by stockholders shall be determined by a plurality of the votes cast by the stockholders entitled to vote at the election. No ballot shall be necessary for such election unless requested by a stockholder present or represented at the meeting and entitled to vote in the election or required by the chairman of the meeting. The corporation shall not directly or indirectly vote any share of its own stock.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:0.67in; text-indent:0.5in;text-align:left;'><font size=2>1.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font size=2>Action without Meeting</font></u><font size=2>.  Any action required or permitted to be taken at any meeting of the stockholders may be taken without a meeting if all stockholders entitled to vote on the matter consent to the action in writing and the written consents are filed with the records of the meetings of stockholders. Each such consent shall be treated for all purposes as a vote at a meeting.</font></p>


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<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>1.10</font></p> </td>

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<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><font size=2>Advance Notice of Business at Meetings of Stockholders</font></u><font size=2>.</font></p> </td> </tr></table>
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<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:1in;text-align:left;'><font size=2> (a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To the extent a stockholder is entitled as a matter of law or another provision of these By-Laws to propose a matter to be considered at any meeting of the stockholders (other than the nomination of directors, which is addressed in Section 2.3), such matter may be proposed only by a person who is a stockholder of record of the corporation at the time of giving the notice provided for in this Section 1.10, who is entitled to vote at the applicable meeting, and who (in addition to complying with any other applicable requirements) has given timely written notice thereof in accordance with this Section 1.10 to the Secretary at the principal executive offices of the corporation.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:1in;text-align:left;'><font size=2>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To be timely with respect to an annual meeting, a stockholder&#146;s notice must be received by the Secretary not less than ninety (90) days nor more than one hundred twenty (120) days before the anniversary of the date on which the corporation first transmitted to stockholders its proxy materials for the immediately preceding annual meeting of stockholders; provided that, if the annual meeting is not held within thirty (30) days before or after the anniversary of such preceding annual meeting, such stockholder&#146;s notice to be timely must be so received not later than the close of business on the later of (i) the one hundred twentieth (120th) day before the date of such annual meeting or (ii) the tenth (10th) day after the day on which notice of the date of the annual meeting was transmitted to stockholders or other public disclosure of the
date of the annual meeting was made, whichever occurs first.  Notwithstanding the foregoing, the postponement or adjournment of any annual meeting for which notice has been provided to stockholders shall not commence a new time period for giving the stockholder&#146;s notice.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:1in;text-align:left;'><font size=2>(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To be timely with respect to a special meeting, a stockholder&#146;s notice must be received by the Secretary not less than ninety (90) days nor more than one hundred twenty (120) days before the date of the special meeting; provided that, if the first day on which notice of the special meeting is transmitted to stockholders or on which public disclosure of the date of the special meeting is made is less than one hundred (100) days before the date of the special meeting, such stockholder&#146;s notice to be timely must be so received not later than the close of business on the tenth (10th) day after the day on which notice of the date of the special meeting was transmitted to stockholders or other public disclosure of the date of the special meeting was made, whichever occurs first.  Notwithstanding the foregoing, the postponement or adjournment of
any special meeting for which notice has been transmitted to stockholders shall not commence a new time period for giving the stockholder&#146;s notice.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:1in;text-align:left;'><font size=2>(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A stockholder&#146;s notice shall set forth as to each matter the stockholder proposes to bring before the meeting (i) a brief description of the business desired to be brought before the meeting and the reasons for conducting such business at the meeting, (ii) the name and record address of the stockholder proposing such business and the name and address of the beneficial owner, if any, on whose behalf the proposal is made, (iii) details of all the following that are held and/or beneficially owned, </font></p>

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<p style=' margin-bottom:12pt; margin-top:0pt;text-align:left;'><font size=2>directly or indirectly, including through any entity, by such stockholder and by such beneficial owner, if any: (A) the class and number of shares of the corporation, (B) any option, warrant, convertible security, stock appreciation right, or similar right with an exercise or conversion privilege or a settlement payment or mechanism at a price related to any class or series of shares of the corporation or with a value derived in whole or in part form the value of any class or series of shares of the corporation, whether or not such instrument or right shall be subject to settlement in the underlying class or series of capital stock of the corporation or otherwise (a "Derivative Instrument") and any other direct or indirect opportunity of any such person to profit or share in any profit derived from any increase or decrease in the value of shares of the corporation, (C) any proxy, contract, arrangement,
understanding, or relationship pursuant to which such stockholder or such other beneficial owner, if any, has a right to vote any shares of any security of the corporation, (D) any short interest in any security of the corporation (for purposes of this By-Law a person shall be deemed to have a short interest in a security if such person directly or indirectly, through any contract, arrangement, understanding relationship or otherwise, has the opportunity to profit or share in any profit derived from any decrease in the value of the subject security), (E) any rights to dividends on the shares of the corporation that are separated or separable from the underlying shares of the corporation, and (F) any performance-related fees (other than an asset-based fee) that such stockholder or such beneficial owner, if any, is entitled to based on any increase or decrease in the value of shares of the corporation or Derivative Instruments, if any, as of the date of such notice, including without
limitation any such interest held by members of such stockholder's immediate family sharing the same household (which information shall be supplemented by such stockholder and beneficial owner, if any, not later than ten (10) days after the record date for the meeting to disclose such ownership as of the record date), (iv) a description of any material interest of the stockholder and of such beneficial owner, if any, in such business, (v) a description of any agreement, arrangement or understanding such stockholder or such beneficial owner, if any, has with any other person(s) relating to the subject matter of such business, and (vi) the basis upon which the stockholder is entitled to make the proposal.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:1in;text-align:left;'><font size=2>(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything in these By-Laws to the contrary, no business proposed by a stockholder shall be conducted at any meeting of stockholders except in accordance with the procedures set forth in this Section, whether or not the stockholder (if otherwise permitted by applicable law) seeks inclusion of such proposal in the corporation&#146;s proxy statement for the meeting; provided that any stockholder proposal that complies with Rule 14a-8 (or any successor provision) of the proxy rules promulgated under the Securities Exchange Act of 1934, as amended, and is included in the corporation&#146;s proxy statement for the applicable stockholders meeting shall be deemed to comply with the requirements for the timing and content of notices hereunder.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:1in;text-align:left;'><font size=2>(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The chairman of the respective stockholders meeting shall, if the facts warrant, determine and declare to the meeting that business was not properly brought before the meeting in accordance with the provisions of this Section 1.10, and, if he should so determine, he shall so declare to the meeting and any such business not properly brought before the meeting shall not be transacted.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt;text-align:center;'><font size=2>ARTICLE 2 - Directors</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:0.67in; text-indent:0.5in;text-align:left;'><font size=2>2.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font size=2>Powers</font></u><font size=2>. The business of the corporation shall be managed by a Board of Directors, who may exercise all the powers of the corporation except as otherwise provided by law, by the Articles of Organization or by these By-Laws. In the event of a vacancy in the Board of Directors, the remaining Directors, except as otherwise provided by law, may exercise the powers of the full Board until the vacancy is filled.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:0.67in; text-indent:0.5in;text-align:left;'><font size=2>2.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font size=2>Number, Election and Qualification</font></u><font size=2>. The number of Directors which shall constitute the whole Board of Directors shall be determined by vote of the stockholders or the Board of Directors, but shall consist of not less than three Directors (except that whenever </font></p>

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<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:0.67in;text-align:left;'><font size=2>there shall be only two stockholders the number of Directors shall be not less than two and whenever there shall be only one stockholder, there shall be at least one Director). The number of Directors may be decreased at any time and from time to time either by the stockholders or by a majority of the Directors then in office, but only to eliminate vacancies existing by reason of the death, resignation, removal or expiration of the term of one or more Directors. Directors need not be stockholders of the corporation. Notwithstanding the foregoing provisions, if the corporation is a &#147;public corporation&#148; within the meaning of Section 8.06 of the Massachusetts Business Corporation Act and has not elected, pursuant to paragraph (c) of such Section 8.06, to be exempt from the provisions of paragraph (b) of such Section 8.06, then:</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:1.25in;text-align:left;'><font size=2>(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In accordance with paragraph (e), clause (4) of such Section 8.06, the number of directors shall be fixed only by vote of the Board of Directors.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:1.25in;text-align:left;'><font size=2>(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In accordance with paragraph (b) of such Section 8.06, the Directors of the corporation shall be classified with respect to the time for which they severally hold office, into three classes, as nearly equal in number as possible; the term of office of those of the first class (&#147;Class I Directors&#148;) to continue until the first annual meeting following the date the corporation becomes subject to such paragraph (a) and until their successors are duly elected and qualified; the term of office of those of the second class (&#147;Class II Directors&#148;) to continue until the second annual meeting following the date the corporation becomes subject to such paragraph (a) and until their successors are duly elected and qualified; and the term of office of those of the third class ( &#147;Class III Directors&#148;) to continue until the third annual
meeting following the date the corporation becomes subject to such paragraph (a) and until their successors are duly elected and qualified. At each annual meeting of the corporation, the successors to the class of directors whose term expires at that meeting shall be elected to hold office for a term continuing until the annual meeting held in the third year following the year of their election and until their successors are duly elected and qualified. </font></p>


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<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>2.3</font></p> </td>

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<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><font size=2>Nomination of Directors</font></u><font size=2>.</font></p> </td> </tr></table>
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<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:1in;text-align:left;'><font size=2> (a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Only persons who are nominated in accordance with this Section 2.3 shall be eligible for election as directors at any annual or special meeting of stockholders.  Nominations of persons for election as directors may be made only (i) by or at the direction of the Board of Directors or (ii) by any person who is a stockholder of record of the corporation at the time of giving the notice provided for in this Section 2.3, who is entitled to vote for the election of directors at the applicable meeting, and who (in addition to any other applicable requirements) has given timely written notice thereof in accordance with this Section 2.3 to the Secretary at the principal executive offices of the corporation.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:1in;text-align:left;'><font size=2>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To be timely with respect to an annual meeting, a stockholder&#146;s notice must be received by the Secretary not less than ninety (90) days nor more than one hundred twenty (120) days before the anniversary of the date on which the corporation first transmitted to stockholders its proxy materials for the immediately preceding annual meeting of stockholders; provided that, if the annual meeting is not held within thirty (30) days before or after the anniversary of such preceding annual meeting, such stockholder&#146;s notice to be timely must be so received not later than the close of business on the later of (i) the one hundred twentieth (120th) day before the date of such annual meeting or (ii) the tenth (10th) day after the day on which notice of the date of the annual meeting was transmitted to stockholders or other public disclosure of the
date of the annual meeting was made, whichever occurs first.  Notwithstanding the foregoing, the postponement or adjournment of any annual meeting for which notice has been provided to stockholders shall not commence a new time period for giving the stockholder&#146;s notice.</font></p>

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<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:1in;text-align:left;'><font size=2>(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To be timely with respect to a special meeting, a stockholder&#146;s notice must be received by the Secretary not less than ninety (90) days nor more than one hundred twenty (120) days before the date of the special meeting; provided that, if the first day on which notice of the special meeting is transmitted to stockholders or on which public disclosure of the date of the special meeting is made is less than one hundred (100) days before the date of the special meeting, such stockholder&#146;s notice to be timely must be so received not later than the close of business on the tenth (10th) day after the day on which notice of the date of the special meeting was transmitted to stockholders or other public disclosure of the date of the special meeting was made, whichever occurs first.  Notwithstanding the foregoing, the postponement or adjournment of
any special meeting for which notice has been provided to stockholders shall not commence a new time period for giving the stockholder&#146;s notice.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:1in;text-align:left;'><font size=2>(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Such stockholder&#146;s notice shall set forth (a) as to each person whom the stockholder proposes to nominate for election or re-election as a director: (i) the name, age, business address and residence address of the person, (ii) the principal occupation or employment of the person, (iii) the class and number of shares of capital stock of the corporation that are beneficially owned by the person, (iv) whether or not the person is currently &#147;independent&#148; from the corporation under the independence standards of the principal national securities exchange on which the corporation&#146;s shares are then traded and all facts that currently prevent the person from being independent under such standards, if applicable, and (v) any other information relating to the person that is required to be disclosed in solicitations for proxies for election
of directors pursuant to Regulation 14A under the Securities Exchange Act of 1934, as amended; (b) as to the stockholder giving the notice: (i) the name and record address of such stockholder and the name and address of the beneficial owner, if any, on whose behalf the proposal is made and (ii) the information described in Section 1.10(d)(iii); and (c) a description of all familial, compensatory, financial and/or other relationships, arrangements and transactions, existing at any time within the preceding three years or currently proposed, between the person proposed to be nominated as a director and such stockholder or such beneficial owner, if any, or any of their respective affiliates and associates.  The corporation may require any proposed nominee to furnish such other information as it may reasonably require to determine the proposed nominee&#146;s eligibility, or lack thereof, to serve as an independent director of the corporation.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:1in;text-align:left;'><font size=2>(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The chairman of the meeting shall, if the facts warrant, determine and declare to the meeting that a nomination was not made in accordance with this Section 2.3, and if he should so determine, he shall so declare to the meeting and the defective nomination shall be disregarded.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:0.67in; text-indent:0.5in;text-align:left;'><font size=2>2.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font size=2>Enlargement of the Board</font></u><font size=2>.  Subject to Section 2.2 above, the number of Directors may be increased at any time and from time to time by the stockholders or by a majority of the Directors then in office.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:0.67in; text-indent:0.5in;text-align:left;'><font size=2>2.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font size=2>Tenure</font></u><font size=2>.  Subject to Section 2.2 above, each Director shall hold office until the next annual meeting of stockholders and until his successor is elected and qualified or until his earlier death, resignation or removal.</font></p>


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<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>2.6</font></p> </td>

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<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><font size=2>Vacancies</font></u><font size=2>.  </font></p> </td> </tr></table>
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<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:1in;text-align:left;'><font size=2> (a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless and until filled by the stockholders, any vacancy in the Board of Directors, however occurring, including a vacancy resulting from an enlargement of the Board, may be filled by vote of a majority of the Directors present at any meeting of Directors at which a quorum is present. Each such successor shall hold office for the unexpired term of his predecessor and until his successor is chosen and qualified or until his earlier death, resignation or removal.</font></p>

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<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:1in;text-align:left;'><font size=2>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the foregoing provisions, if the corporation is a &#147;public corporation&#148; within the meaning of Section 8.06 of the Massachusetts Business Corporation Act and has not elected, pursuant to paragraph (c) of such Section 8.06, to be exempt from the provisions of paragraph (b) of such Section 8.06, then (i) vacancies and newly created directorships, whether resulting from an increase in the size of the Board of Directors, from the death, resignation, disqualification or removal of a director or otherwise, shall be filled solely by the affirmative vote of a majority of the remaining Directors then in office, even though less than a quorum of the Board of Directors, and (ii) any Director elected in accordance with clause (i) shall hold office for the remainder of the full term of the class of Directors in which the vacancy occurred
or the new directorship was created and until such Director&#146;s successor shall have been elected and qualified or until his earlier death, resignation or removal.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:0.67in; text-indent:0.5in;text-align:left;'><font size=2>2.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font size=2>Resignation</font></u><font size=2>.  Any Director may resign by delivering his written resignation to the corporation at its principal office or to </font><u><b><font size=2>the Chairman of the Board, </font></b></u><font size=2>the Chief Executive Officer or Secretary.  Such resignation shall be effective upon receipt unless it is specified to be effective at some other time or upon the happening of some other event.</font></p>


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<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>2.8</font></p> </td>

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<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><font size=2>Removal</font></u><font size=2>.  </font></p> </td> </tr></table>
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<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:1in;text-align:left;'><font size=2> (a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A Director may be removed from office with or without cause by vote of the holders of a majority of the shares entitled to vote in the election of Directors. However, the Directors elected by the holders of a particular class or series of stock may be removed from office with or without cause only by vote of the holders of a majority of the outstanding shares of such class or series. In addition, a Director may be removed from office for cause by vote of a majority of the Directors then in office. A Director may be removed for cause only after reasonable notice and opportunity to be heard before the body proposing to remove him.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:1in;text-align:left;'><font size=2>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the foregoing provisions, if the corporation is a &#147;public corporation&#148; within the meaning of Section 8.06 of the Massachusetts Business Corporation Act and has not elected, pursuant to paragraph (c) of such Section 8.06, to be exempt from the provisions of paragraph (b) of such Section 8.06, then stockholders may effect, by the affirmative vote of a majority of the shares outstanding and entitled to vote in the election of Directors, the removal of any Director or Directors or the entire Board of Directors only for cause, as defined in paragraph (f) of such Section 8.06.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:0.67in; text-indent:0.5in;text-align:left;'><font size=2>2.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font size=2>Regular Meetings</font></u><font size=2>.  Regular meetings of the Directors may be held without call or notice at such places, within or without Massachusetts, and at such times as the Directors may from time to time determine, provided that any Director who is absent when such determination is made shall be given notice of the determination. A regular meeting of the Directors may be held without a call or notice immediately after and at the same place as the annual meeting of stockholders.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:0.67in; text-indent:0.5in;text-align:left;'><font size=2>2.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font size=2>Special Meetings</font></u><font size=2>.  Special meetings of the Directors may be held at any time and place, within or without Massachusetts, designated in a call by the Chairman of the Board, Chief Executive Officer, Treasurer, two or more Directors or by one Director in the event that there is only a single Director in office.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:0.67in; text-indent:0.5in;text-align:left;'><font size=2>2.11&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font size=2>Meetings by Telephone Conference Calls or Other Electronic Communication</font></u><font size=2>.  Directors or members of any committee designated by the Directors may participate in a meeting of the Directors or such committee by means of a conference telephone or other electronic communications equipment by means of which all persons participating in the meeting can hear each other at the same time and participation by such means shall constitute presence in person at a meeting.</font></p>

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<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:0.67in; text-indent:0.5in;text-align:left;'><font size=2>2.12&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font size=2>Notice of Special Meetings</font></u><font size=2>.  Notice of any special meeting of the Directors shall be given to each Director by the Secretary or by the officer or one of the Directors calling the meeting.  Notice shall be duly given to each Director (i) by notice given to such Director in person or by telephone at least 48 hours in advance of the meeting, (ii) by sending an electronic communication, or by delivering written notice by hand, to his last known business or home address at least 48 hours in advance of the meeting, or (iii) by mailing written notice to his last known business or home address at least 72 hours in advance of the meeting.  Notice need not be given to any Director if a written waiver of notice, executed by him before or after the meeting, is filed with the records of the meeting, or
to any Director who attends the meeting without protesting prior to the meeting or at its commencement the lack of notice to him.  A notice or waiver of notice of a Directors&#146; meeting need not specify the purposes of the meeting.  If notice is given in person or by telephone, an affidavit of the Secretary, officer or Director who gives such notice that the notice has been duly given shall, in the absence of fraud, be conclusive evidence that such notice was duly given.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:0.67in; text-indent:0.5in;text-align:left;'><font size=2>2.13&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font size=2>Quorum</font></u><font size=2>.  At any meeting of the Board of Directors, a majority of the Directors then in office shall constitute a quorum.  Less than a quorum may adjourn any meeting from time to time without further notice.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:0.67in; text-indent:0.5in;text-align:left;'><font size=2>2.14&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font size=2>Action at Meeting</font></u><font size=2>.  At any meeting of the Board of Directors at which a quorum is present, the vote of a majority of those present shall be sufficient to take any action, unless a different vote is specified by law, by the Articles of Organization or by these By-Laws.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:0.67in; text-indent:0.5in;text-align:left;'><font size=2>2.15&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font size=2>Action by Consent</font></u><font size=2>.  Any action required or permitted to be taken at any meeting of the Board of Directors may be taken without a meeting if all the Directors consent to the action in writing, signed by each director or delivered to the corporation by electronic transmission, and the written consents are filed with the records of the Directors&#146; meetings. Each such consent shall be treated for all purposes as a vote at a meeting.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:0.67in; text-indent:0.5in;text-align:left;'><font size=2>2.16&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font size=2>Committees</font></u><font size=2>.  The Board of Directors may, by vote of a majority of the Directors then in office, elect from their number an executive committee or other committees and may by like vote delegate to committees so elected some or all of their powers to the extent permitted by law.  Except as the Board of Directors may otherwise determine, any such committee may make rules for the conduct of its business, but unless otherwise provided by the Directors or in such rules, its business shall be conducted as nearly as possible in the same manner as is provided by these By-Laws for the Directors.  The Board of Directors shall have the power at any time to fill vacancies in any such committee, to change its membership or to discharge the committee.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:0.67in; text-indent:0.5in;text-align:left;'><u><b><font size=2>2.17</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><b><font size=2>Chairman of the Board and Vice-Chairman of the Board.  The Board of Directors may appoint a Chairman of the Board.  If the Board of Directors appoints a Chairman of the Board, he shall preside at meetings of the Directors and the stockholders and shall perform such other duties and possess such powers as are assigned to him by the Board of Directors.  If the Board of Directors appoints a Vice-Chairman of the Board, he shall, in the absence or disability of the Chairman of the Board, perform the duties and exercise the powers of the Chairman of the Board and shall perform such other duties and possess such other powers as may from time to time be vested in him by the Board of Directors.</font></b></u></p>

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<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:0.67in; text-indent:0.5in;text-align:left;'><u><b><font size=2>2.18</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></u><strike><font size=2>2.17 </font></strike><u><font size=2>Compensation of Directors</font></u><font size=2>.  Directors may be paid such compensation for their services and such reimbursement for expenses of attendance at meetings as the Board of Directors may from time to time determine. No such payment shall preclude any Director from serving the corporation in any other capacity and receiving compensation </font><strike><font size=2>therefore</font></strike><u><b><font size=2>therefor</font></b></u><font size=2>.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt;text-align:center;'><font size=2>ARTICLE 3 - Officers</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:0.67in; text-indent:0.5in;text-align:left;'><font size=2>3.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font size=2>Enumeration</font></u><font size=2>.  The officers of the corporation shall consist of a </font><u><b><font size=2>Chief Executive Officer, a </font></b></u><font size=2>President, a Treasurer, a Secretary and such other officers with such other titles as the Board of Directors or the Chief Executive Officer may determine, including, but not limited to</font><strike><font size=2>, a Chairman of the Board, a Vice Chairman of the Board, and</font></strike><font size=2> one or more Vice Presidents, Assistant Treasurers, and Assistant Secretaries.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:0.67in; text-indent:0.5in;text-align:left;'><font size=2>3.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font size=2>Election</font></u><font size=2>.  The </font><u><b><font size=2>Chief Executive Officer, </font></b></u><font size=2>President, Treasurer and Secretary shall be elected annually by the Board of Directors at their first meeting following the annual meeting of stockholders. Other officers may be chosen or appointed by or under the authority of the Board of Directors</font><strike><font size=2> at such meeting or at any other meeting</font></strike><font size=2>.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:0.67in; text-indent:0.5in;text-align:left;'><font size=2>3.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font size=2>Qualification</font></u><font size=2>.  No officer need be a director or stockholder.  Any two or more offices may be held by the same person.  Any officer may be required by the Directors to give bond for the faithful performance of his duties to the corporation in such amount and with such sureties as the Directors may determine. The premiums for such bonds may be paid by the corporation.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:0.67in; text-indent:0.5in;text-align:left;'><font size=2>3.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font size=2>Tenure</font></u><font size=2>.  Except as otherwise provided by law, by the Articles of Organization or by these By-Laws, the </font><u><b><font size=2>Chief Executive Officer, </font></b></u><font size=2>President, Treasurer and Secretary shall hold office until the first meeting of the Directors following the next annual meeting of stockholders and until their respective successors are chosen and qualified, or until their earlier death, resignation or removal; and all other officers shall serve at the pleasure of the Directors.</font></p>


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<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>3.5</font></p> </td>

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<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><font size=2>Resignation and Removal</font></u><font size=2>.  </font></p> </td> </tr></table>
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<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:1in;text-align:left;'><font size=2> (a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any officer may resign by delivering his written resignation to the corporation at its principal office or to the Chief Executive Officer or Secretary.  Such resignation shall be effective upon receipt unless it is specified to be effective at some other time or upon the happening of some other event.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:1in;text-align:left;'><font size=2>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;An officer may be removed at any time, with or without cause, by or under the authority of the Board of Directors.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:1in;text-align:left;'><font size=2>(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as the Board of Directors may otherwise determine, no officer who resigns or is removed shall have any right to any compensation as an officer for any period following his resignation or removal, or any right to damages on account of such removal, whether his compensation be by the month or the year or otherwise, unless such compensation is expressly provided in a duly authorized written agreement with the corporation.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:0.67in; text-indent:0.5in;text-align:left;'><font size=2>3.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font size=2>Vacancies</font></u><font size=2>.  </font><strike><font size=2>The Board of Directors may fill any</font></strike><u><b><font size=2>Any</font></b></u><font size=2> vacancy occurring in any office for any reason </font><strike><font size=2>and</font></strike><u><b><font size=2>may be filled by or under the authority of the Board of Directors, which</font></b></u><font size=2> may, in its discretion, leave unfilled for such period as it may determine any offices other than those of President, Treasurer and Secretary. Each such successor shall hold </font></p>

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<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:0.67in;text-align:left;'><font size=2>office for the unexpired term of his predecessor and until his successor is chosen and qualified, or until he sooner dies, resigns or is removed.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><strike><font size=2>3.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></strike><u><strike><font size=2>Chairman of the Board and Vice-Chairman of the Board</font></strike></u><strike><font size=2>.  The Board of Directors may appoint a Chairman of the Board and may designate him as Chief Executive Officer.  If the Board of Directors appoints a Chairman of the Board, he shall perform such duties and possess such powers as are assigned to him by the Board of Directors.  If the Board of Directors appoints a Vice-Chairman of the Board, he shall, in the absence or disability of the Chairman of the Board, perform the duties and exercise the powers of the Chairman of the Board and shall perform such other duties and possess such other powers as may from time to time be vested in him by the Board of Directors.</font></strike></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:0.67in; text-indent:0.5in;text-align:left;'><u><b><font size=2>3.7</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></u><strike><font size=2>3.8 </font></strike><u><strike><font size=2>President</font></strike><b><font size=2>Chief Executive Officer</font></b></u><font size=2>.  The </font><strike><font size=2>President</font></strike><u><b><font size=2>Chief Executive Officer</font></b></u><font size=2> shall, subject to the direction of the Board of Directors, have general charge and supervision of the business of the corporation.  Unless </font><u><b><font size=2>a separate Chairman of the Board has been appointed, or except as </font></b></u><font size=2>otherwise provided by the Board of Directors, he shall preside at all meetings of the stockholders and, if he is a Director, at all meetings of the Board of Directors.  </font><strike><font size=2>Unless the Board of Directors has designated the
Chairman of the Board or another officer as Chief Executive Officer, the President shall be the Chief Executive Officer of the corporation. The President shall perform such other duties and shall possess such other powers as the Board of Directors may from time to time prescribe.</font></strike></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:0.67in; text-indent:0.5in;text-align:left;'><u><b><font size=2>3.8</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><b><font size=2>President.   The President shall, subject to the direction of the Chief Executive Officer, have general charge and supervision of the business of the corporation and shall perform such other duties and shall possess such other powers as the Chief Executive Officer may from time to time prescribe.  If no other Chief Executive Officer has been appointed, or in the event of the absence, inability or refusal to act of the Chief Executive Officer, the President shall perform the duties of the Chief Executive Officer and when so performing shall have all the powers of and be subject to all the restrictions upon the Chief Executive Officer.  </font></b></u></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:0.67in; text-indent:0.5in;text-align:left;'><font size=2>3.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font size=2>Vice Presidents</font></u><font size=2>.  Any Vice President shall perform such duties and possess such powers as the Board of Directors</font><strike><font size=2> or</font></strike><u><b><font size=2>,</font></b></u><font size=2> the Chief Executive Officer</font><u><b><font size=2> or the President</font></b></u><font size=2> may from time to time prescribe.  </font><strike><font size=2>In the event of the absence, inability or refusal to act of the President, the Vice President (or if there shall be more than one, the Vice Presidents in the order determined by the Board of Directors) shall perform the duties of the President and when so performing shall have all the powers of and be subject to all the restrictions upon the President.  </font></strike><font size=2>The Board of Directors or the Chief
Executive Officer may assign to any Vice President the title of Executive Vice President, Senior Vice President or any other title.</font></p>


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<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:1in;text-align:left;'><font size=2> (a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Treasurer shall perform such duties and shall have such powers as may from time to time be assigned to him by the Board of Directors or the Chief Executive Officer.  In addition, the Treasurer shall perform such duties and have such powers as are incident to the office of treasurer, including without limitation the duty and power to keep and be responsible for all funds and securities of the corporation, to deposit funds of the corporation in depositories selected in accordance with these By-</font></p>

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<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:1in;text-align:left;'><font size=2>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Assistant Treasurers shall perform such duties and possess such powers as the Board of Directors, the Chief Executive Officer or the Treasurer may from time to time prescribe.  In the event of the absence, inability or refusal to act of the Treasurer, the Assistant Treasurer (or if there shall be more than one, the Assistant Treasurers in the order determined by the Board of Directors) shall perform the duties and exercise the powers of the Treasurer.</font></p>


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<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>3.11</font></p> </td>

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<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><font size=2>Secretary and Assistant Secretaries</font></u><font size=2>.  </font></p> </td> </tr></table>
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<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:1in;text-align:left;'><font size=2> (a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Secretary shall perform such duties and shall possess such powers as the Board of Directors or the Chief Executive Officer may from time to time prescribe.  In addition, the Secretary shall perform such duties and have such powers as are incident to the office of the clerk, including without limitation the duty and power to give notices of all meetings of stockholders and special meetings of the Board of Directors, to attend all meetings of stockholders and the Board of Directors and keep a record of the proceedings, to maintain a stock ledger and prepare lists of stockholders and their addresses as required, to be custodian of corporate records and the corporate seal and to affix and attest to the same on documents.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:1in;text-align:left;'><font size=2>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any Assistant Secretary shall perform such duties and possess such powers as the Board of Directors, the Chief Executive Officer or the Secretary may from time to time prescribe.  In the event of the absence, inability or refusal to act of the Secretary, the Assistant Secretary (or if there shall be more than one, the Assistant Secretaries in the order determined by the Board of Directors) shall perform the duties and exercise the powers of the Secretary.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:1in;text-align:left;'><font size=2>(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the absence of the Secretary or any Assistant Secretary at any meeting of stockholders or Directors, the person presiding at meeting shall designate a temporary Secretary to keep a record of the meeting.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:0.67in; text-indent:0.5in;text-align:left;'><font size=2>3.12&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font size=2>Salaries</font></u><font size=2>.  Officers of the corporation shall be entitled to such salaries, compensation or reimbursement as shall be fixed or allowed from time to time by the Board of Directors.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt;text-align:center;'><font size=2>ARTICLE 4 - Capital Stock</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:0.67in; text-indent:0.5in;text-align:left;'><font size=2>4.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font size=2>Issue of Capital Stock</font></u><font size=2>.  Unless otherwise voted by the stockholders, the whole or any part of any unissued balance of the authorized capital stock of the corporation or the whole or any part of the capital stock of the corporation held in its treasury may be issued or disposed of by vote of the Board of Directors, in such manner, for such consideration and on such terms as the Directors may determine.</font></p>


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<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>4.2</font></p> </td>

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<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><font size=2>Certificate of Stock; Uncertificated Shares</font></u><font size=2>.  </font></p> </td> </tr></table>
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<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:1in;text-align:left;'><font size=2> (a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares of the corporation&#146;s capital stock may be represented by certificates or may be uncertificated as prescribed from time to time by or under the authority of the Directors.  Certificates for shares shall be signed by the </font><u><b><font size=2>Chief Executive Officer, the </font></b></u><font size=2>President or a Vice President, and by the Treasurer or an Assistant Treasurer, but when a certificate is countersigned by a transfer agent or a registrar, other than a Director, officer or employee of the corporation, such signature may be a facsimile.  In case any officer who has signed or whose facsimile signature has been placed upon such </font></p>

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<p style=' margin-bottom:12pt; margin-top:0pt;text-align:left;'><font size=2>certificate shall have ceased to be such officer before such certificate is issued, it may be issued by the corporation with the same effect as if he were such officer at the time of its issue.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:1in;text-align:left;'><font size=2>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Every certificate for shares of stock which are subject to any restriction on transfer pursuant to the Articles of Organization, the By-Laws, applicable securities laws or any agreement to which the corporation is a party, shall have conspicuously noted on the face or back of the certificate either the full text of the restriction or a statement of the existence of such restrictions and a statement that the corporation will furnish a copy of the restrictions to the holder of such certificate upon written request and without charge.  Every certificate issued when the corporation is authorized to issue more than one class or series of stock shall set forth on its face or back either the full text of the preferences, voting powers, qualifications and special and relative rights of the shares of each class and series authorized to be issued or a
statement of the existence of such preferences, powers, qualifications and rights and a statement that the corporation will furnish a copy thereof to the holder of such certificate upon written request and without charge.  Holders of uncertificated shares shall be provided with a statement of the information set forth above as applicable and as required by the Massachusetts Business Corporation Act.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:0.67in; text-indent:0.5in;text-align:left;'><font size=2>4.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font size=2>Transfers</font></u><font size=2>.  Subject to the restrictions, if any, stated or noted on the stock certificates or provided to the holder of uncertificated shares, shares of stock may be transferred on the books of the corporation by (a) the surrender to the corporation or its transfer agent of the certificate representing such shares properly endorsed or accompanied by a written assignment or power of attorney properly executed or (b) proper transfer instructions from the registered owner of uncertificated shares, in each case with such proof of authority or the authenticity of signature as the corporation or its transfer agent may reasonably require. Except as may be otherwise required by law, by the Articles of Organization or by these By-Laws, the corporation shall be entitled to treat the record
holder of stock as shown on its books as the owner of such stock for all purposes, including the payment of dividends and the right to vote with respect thereto, regardless of any transfer, pledge or other disposition of such stock until the shares have been transferred on the books of the corporation in accordance with the requirements of these By-Laws.  It shall be the duty of each stockholder to notify the corporation of his post office address and of his taxpayer identification number.</font></p>


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<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>4.4</font></p> </td>

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<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><font size=2>Record Date</font></u><font size=2>.  </font></p> </td> </tr></table>
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<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:1in;text-align:left;'><font size=2> (a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Board of Directors may fix in advance a time not more than 70 days preceding the date of any meeting of stockholders or the date for the payment of any dividend or the making of any distribution to stockholders or the last day on which the consent or dissent of stockholders may be effectively expressed for any purpose, as the record date for determining the stockholders having the right to notice of and to vote at such meeting, and any adjournment, or the right to receive such dividend or distribution or the right to give such consent or dissent. In such case only stockholders of record on such record date shall have such right, notwithstanding any transfer of stock on the books of the corporation after the record date. Without fixing such record date the Directors may for any of such purposes close the transfer books for all or any part of such period.  </font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:1in;text-align:left;'><font size=2>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If no record date is fixed and the transfer books are not closed, the record date for determining the stockholders having the right to notice of or to vote at a meeting of stockholders shall be at the close of business on the day before the day on which notice is given, and the record date for determining the stockholders for any other purpose shall be at the close of business on the day on which the Board of Directors acts with respect to such purpose. </font></p>

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<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:1in;text-align:left;'><font size=2>(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A determination of stockholders entitled to notice of or to vote at a meeting of stockholders is effective for any postponement or adjournment of the meeting unless the meeting is postponed or adjourned to a date more than one hundred twenty days after the date fixed for the original meeting, in which case the Board of Directors shall fix a new record date.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:0.67in; text-indent:0.5in;text-align:left;'><font size=2>4.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font size=2>Replacement of Certificates</font></u><font size=2>.  In case of the alleged loss or destruction or the mutilation of a certificate of stock, a duplicate certificate or uncertificated shares may be issued in place of the lost, destroyed or mutilated certificate, upon such terms as the Directors may prescribe, including the presentation of reasonable evidence of such loss, destruction or mutilation and the giving of such indemnity as the Directors may require for the protection of the corporation or any transfer agent or registrar.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt;text-align:center;'><font size=2>ARTICLE 5 - Miscellaneous Provisions</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:0.67in; text-indent:0.5in;text-align:left;'><font size=2>5.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font size=2>Fiscal Year</font></u><font size=2>.  Except as otherwise set forth in the Articles of Organization or as otherwise determined from time to time by the Board of Directors, the fiscal year of the corporation shall in each year end on September 30.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:0.67in; text-indent:0.5in;text-align:left;'><font size=2>5.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font size=2>Seal</font></u><font size=2>.  The seal of the corporation shall, subject to alteration by the Directors, bear its name, the word &#147;Massachusetts&#148; and the year of its incorporation.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:0.67in; text-indent:0.5in;text-align:left;'><font size=2>5.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font size=2>Voting of Securities</font></u><font size=2>.  The Chief Executive Officer, the President, the Chief Financial Officer, the Treasurer, the Secretary or any other person the Board of Directors may designate may waive notice of, and act as, or appoint any person or persons to act as, proxy or attorney-in-fact for this corporation (with or without power of substitution) at, any meeting of or other action by stockholders, shareholders or members of any other corporation or organization, the securities of which may be held by this corporation.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:0.67in; text-indent:0.5in;text-align:left;'><font size=2>5.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font size=2>Corporate Records</font></u><font size=2>.  The corporation shall keep, in Massachusetts at the principal office of the corporation, or at an office of its transfer agent or of the Secretary, such records as are required by the Massachusetts Business Corporation Act.  These copies and records need not all be kept in the same office. They shall be available for inspection by stockholders for any proper purpose and in conformity with said Act.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:0.67in; text-indent:0.5in;text-align:left;'><font size=2>5.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font size=2>Evidence of Authority</font></u><font size=2>.  A certificate by the Secretary or an Assistant or temporary Secretary as to any action taken by the stockholders, Directors, any committee or any officer or representative of the corporation shall as to all persons who rely on the certificate in good faith be conclusive evidence of such action.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:0.67in; text-indent:0.5in;text-align:left;'><font size=2>5.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font size=2>Articles of Organization</font></u><font size=2>.  All references in these By-Laws to the Articles of Organization shall be deemed to refer to the Articles of Organization of the corporation, as amended and in effect from time to time.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:0.67in; text-indent:0.5in;text-align:left;'><font size=2>5.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font size=2>Severability</font></u><font size=2>.  Any determination that any provision of these By-Laws is for any reason inapplicable, illegal or ineffective shall not affect or invalidate any other provision of these By-Laws.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:0.67in; text-indent:0.5in;text-align:left;'><font size=2>5.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font size=2>Pronouns</font></u><font size=2>.  All pronouns used in these By-Laws shall be deemed refer to the masculine, feminine or neuter, singular or plural, as the identity of the person or persons may require.</font></p>

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<p style=' margin-bottom:12pt; margin-top:0pt;text-align:center;'><font size=2>ARTICLE 6 - Amendments</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font size=2>These By-Laws may be amended by vote of the holders of a majority of the shares of each class of the capital stock at the time outstanding and entitled to vote at any annual or special meeting of stockholders, if notice of the substance of the proposed amendment is stated in the notice of such meeting. If authorized by the Articles of Organization, the Directors, by a majority of their number then in office, may also make, amend or repeal these By-Laws, in whole or in part, except with respect to (a) the provisions of these By- Laws governing (i) the removal of directors and (ii) the amendment of these By-Laws and (b) any provision of these By-Laws which by law, the Articles of Organization or these By-Laws requires action by the stockholders.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font size=2>Not later than the time of giving notice of the meeting of stockholders next following the making, amending or repealing by the Directors of any By-Law, notice stating the substance of such change shall be given to all stockholders entitled to vote on amending the By-Laws.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font size=2>Any By-Law adopted by the Directors may be amended or repealed by the stockholders entitled to vote on amending the By-Laws.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font size=2>As amended through </font><strike><font size=2>September 17, 2008.</font></strike><u><b><font size=2>March 4, 2009.</font></b></u></p>

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<DESCRIPTION>2000 EQUITY INCENTIVE PLAN
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>PARAMETRIC TECHNOLOGY CORPORATION</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><b><font size=2>2000 EQUITY INCENTIVE PLAN
</font></b><font size=2>&nbsp;</font><b><font size=2>
</font></b><i><b><font size=2>1. Purpose</font></b></i><b><font size=2>. </font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>The purpose of the Parametric Technology Corporation 2000 Equity Incentive Plan (the &#147;Plan&#148;) is to attract and retain directors and key employees and consultants of the Company and its Affiliates, to provide an incentive for them to achieve performance goals, and to enable them to participate in the growth of the Company by granting Awards with respect to the Company&#146;s Common Stock. Certain capitalized terms used herein are defined in Section&nbsp;9 below. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><i><b><font size=2>2. Administration</font></b></i><b><font size=2>. </font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>The Plan shall be administered by the Committee; provided, that the Board may in any instance perform any of the functions of the Committee hereunder. The Committee shall select the Participants to receive Awards and shall determine the terms and conditions of the Awards. The Committee shall have authority to adopt, alter and repeal such administrative rules, guidelines and practices governing the operation of the Plan as it shall from time to time consider advisable, and to interpret the provisions of the Plan. The Committee&#146;s decisions shall be final and binding. To the extent permitted by applicable law, the Committee may delegate to one or more executive officers of the Company the power to make Awards to Participants who are not Reporting Persons or Covered Employees and all determinations under the Plan with respect thereto, provided that the Committee shall fix the maximum amount of such Awards for
all such Participants and a maximum for any one Participant. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><i><b><font size=2>3. Eligibility</font></b></i><b><font size=2>. </font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>All directors and all employees and consultants of the Company or any Affiliate capable of contributing to the successful performance of the Company are eligible to be Participants in the Plan. Incentive Stock Options may be granted only to persons eligible to receive such Options under the Code. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><i><b><font size=2>4. Stock Available for Awards</font></b></i><b><font size=2>. </font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><i><b><font size=2>(a) Amount.</font></b></i><font size=2>  Up to an aggregate of 22,300,000 shares of Common Stock, subject to adjustment under subsection&nbsp;(b) may be issued pursuant to Awards, including Incentive Stock Options, under the Plan.  If any Award expires or is terminated unexercised or is forfeited, the shares subject to such Award, to the extent of such expiration, termination, or forfeiture, shall again be available for award under the Plan. Common Stock issued through the assumption or substitution of outstanding grants from an acquired company shall not reduce the shares available for Awards under the Plan. Shares issued under the Plan may consist of authorized but unissued shares or treasury shares. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><i><b><font size=2>(b) Adjustment</font></b></i><b><font size=2>.</font></b><font size=2>  In the event of any equity restructuring, whether a stock dividend, recapitalization, split-up or combination of shares, or otherwise, affects the Common Stock such that an adjustment is required in order to preserve the benefits intended to be provided by the Plan, the Committee (subject in the case of Incentive Stock Options to any limitation required under the Code) shall equitably adjust any or all of (i) the number and kind of shares in respect of which Awards may be made under the Plan, (ii) the number and kind of shares subject to outstanding Awards and (iii) the exercise price with respect to any of the foregoing, provided that the number of shares subject to any Award shall always be a whole number.  </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><i><b><font size=2>(c) Limit on Individual Grants</font></b></i><b><font size=2>.</font></b><font size=2>  Subject to adjustment under subsection (b) above, the maximum number of shares of Common Stock that are either subject to Options and Stock Appreciation Rights or are granted as Restricted Stock Units, Restricted Stock or unrestricted stock Awards with respect to which Performance Goals apply under Section&nbsp;7 below that may be granted to any Participant in the aggregate in any fiscal year shall not exceed 800,000. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><i><b><font size=2>5. Stock Options</font></b></i><b><font size=2>. </font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><i><b><font size=2>(a) Grant of Options</font></b></i><b><font size=2>.</font></b><font size=2>  Subject to the provisions of the Plan, the Committee may grant options (&#147;Options&#148;) to purchase shares of Common Stock (i) complying with the requirements of Section 422 of the Code or any successor </font></p>

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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>provision and any regulations thereunder (&#147;Incentive Stock Options&#148;) and (ii) not intended to comply with such requirements (&#147;Nonstatutory Stock Options&#148;). The Committee shall determine the number of shares subject to each Option and the exercise price therefor, which shall not be less than 100% of the Fair Market Value of the Common Stock on the date of grant.  No Incentive Stock Option may be granted hereunder more than ten years after the effective date of the Plan. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><i><b><font size=2>(b) Terms and Conditions</font></b></i><b><font size=2>.</font></b><font size=2>  Each Option shall be exercisable at such times and subject to such terms and conditions as the Committee may specify in the applicable grant or thereafter. The Committee may impose such conditions with respect to the exercise of Options, including conditions relating to applicable federal or state laws, as it considers necessary or advisable. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><i><b><font size=2>(c) Payment</font></b></i><b><font size=2>.</font></b><font size=2>  No shares shall be delivered pursuant to any exercise of an Option until payment in full of the exercise price therefor is received by the Company. Such payment may be made in whole or in part in cash or, to the extent permitted by the Committee at or after the grant of the Option, by delivery of shares of Common Stock owned by the optionee valued at their Fair Market Value on the date of delivery, or such other lawful consideration, including a payment commitment of a financial or brokerage institution, as the Committee may determine. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><i><b><font size=2>6. Stock Appreciation Rights</font></b></i><b><font size=2>. </font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><i><b><font size=2>(a) Grant of SARs</font></b></i><b><font size=2>.</font></b><font size=2>  Subject to the provisions of the Plan, the Committee may grant rights to receive any excess in value of shares of Common Stock over the exercise price (&#147;Stock Appreciation Rights&#148; or &#147;SARs&#148;). The Committee shall determine at the time of grant or thereafter whether SARs are settled in cash, Common Stock or other securities of the Company, Awards or other property, and may define the manner of determining the excess in value of the shares of Common Stock. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><i><b><font size=2>(b) Exercise Price</font></b></i><b><font size=2>.</font></b><font size=2> The Committee shall fix the exercise price of each SAR or specify the manner in which the price shall be determined. An SAR may not have an exercise price less than 100% of the Fair Market Value of the Common Stock on the date of the grant, provided that an SAR granted to a new employee or consultant in connection with the hiring of such person may have a lower exercise price so long as it is not less than 100% of Fair Market Value on the date the person accepts the Company&#146;s offer of employment or the date employment commences, whichever is lower. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><i><b><font size=2>7. Stock and Stock Unit Awards</font></b></i><b><font size=2>. </font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><i><b><font size=2>(a) Grant of Restricted or Unrestricted Stock Awards</font></b></i><b><font size=2>.</font></b><font size=2> The Committee may grant shares of Common Stock subject to forfeiture (&#147;Restricted Stock&#148;) and determine the duration of the period (the &#147;Restricted Period&#148;) during which, and the conditions under which, the shares may be forfeited to the Company and the other terms and conditions of such Awards. Shares of Restricted Stock may not be sold, assigned, transferred, pledged or otherwise encumbered, except as permitted by the Committee, during the Restricted Period. Shares of Restricted Stock shall be evidenced in such manner as the Committee may determine. Any certificates issued in respect of shares of Restricted Stock shall be registered in the name of the Participant and unless otherwise determined by the Committee, deposited by the Participant, together with a stock power
endorsed in blank, with the Company. At the expiration of the Restricted Period, the Company shall deliver such certificates to the Participant or if the Participant has died, to the Participant&#146;s Designated Beneficiary. The Committee also may make Awards of shares of Common Stock that are not subject to restrictions or forfeiture, on such terms and conditions as the Committee may determine from time to time. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><i><b><font size=2>(b) Grant of Restricted Stock Units.</font></b></i><font size=2> The Committee may grant the right to receive in the future shares of Common Stock subject to forfeiture (&#147;Restricted Stock Units&#148;) and determine the duration of the Restricted Period during which, and the conditions under which, the Award may be forfeited to the Company and the other terms and conditions of such Awards. Restricted Stock Unit Awards shall constitute an unfunded and unsecured obligation of the Company, and shall be settled in shares of Common Stock or cash, as determined by the Committee at the time of grant or thereafter. Such Awards shall be made in the form of &#147;units&#148; with each unit representing the equivalent of one share of Common Stock. </font></p>

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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><A NAME="PAGENUM"><font size=2>2</font>
</A></p>

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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><i><b><font size=2>(c) Performance Goals; Consideration.</font></b></i><font size=2> The Committee may establish Performance Goals for the granting of Restricted Stock, unrestricted stock Awards, Restricted Stock Units or the lapse of risk of forfeiture of Restricted Stock or Restricted Stock Units. Shares of Restricted Stock or unrestricted stock or Restricted Stock Units may be issued for no cash consideration, such minimum consideration as may be required by applicable law or such other consideration as the Committee may determine. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><i><b><font size=2>8. General Provisions Applicable to Awards</font></b></i><b><font size=2>. </font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><i><b><font size=2>(a) Documentation.</font></b></i><font size=2> Each Award under the Plan shall be evidenced by a writing delivered to the Participant or agreement executed by the Participant specifying the terms and conditions thereof and containing such other terms and conditions not inconsistent with the provisions of the Plan as the Committee considers necessary or advisable to achieve the purposes of the Plan or to comply with applicable tax and regulatory laws and accounting principles.  No Award to any Participant subject to United States income taxation shall provide for the deferral of compensation that does not comply with Section 409A of the Code.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><i><b><font size=2>(b) Committee Discretion.</font></b></i><font size=2> Each type of Award may be made alone, in addition to or in relation to any other Award. The terms of each type of Award need not be identical, and the Committee need not treat Participants uniformly. Except as otherwise provided by the Plan or a particular Award, any determination with respect to an Award may be made by the Committee at the time of grant or at any time thereafter. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><i><b><font size=2>(c) Dividends and Cash Awards.</font></b></i><font size=2> In the discretion of the Committee, any Award under the Plan may provide the Participant with (i) dividends or dividend equivalents payable (in cash or in the form of Awards under the Plan) currently or deferred with or without interest and (ii) cash payments in lieu of or in addition to an Award. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><i><b><font size=2>(d) Termination of Service.</font></b></i><font size=2> The Committee shall determine the effect on an Award of the disability, death, retirement or other termination of service of a Participant and the extent to which, and the period during which, the Participant&#146;s legal representative, guardian or Designated Beneficiary may receive payment of an Award or exercise rights thereunder. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><i><b><font size=2>(e) Change in Control.</font></b></i><font size=2> In order to preserve a Participant&#146;s rights under an Award in the event of a change in control of the Company (as defined by the Committee), the Committee in its discretion may, at the time an Award is made or at any time thereafter, take such actions, including without limitation one or more of the following: (i)&nbsp;providing for the acceleration of any time period relating to the exercise or payment of the Award, (ii)&nbsp;providing for payment to the Participant of cash or other property with a Fair Market Value equal to the amount that would have been received upon the exercise or payment of the Award had the Award been exercised or paid upon the change in control, whereupon the Award shall terminate, (iii)&nbsp;adjusting the terms of the Award in a manner determined by the Committee to reflect the change in control, or (iv)&nbsp;causing the
Award to be assumed, or new rights substituted therefor, by another entity, as the Committee may consider equitable to Participants and in the best interests of the Company. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><i><b><font size=2>(f) Transferability.</font></b></i><font size=2> In the discretion of the Committee, any Award may be made transferable upon such terms and conditions and to such extent as the Committee determines, provided that Incentive Stock Options may be transferable only to the extent permitted by the Code. The Committee may in its discretion waive any restriction on transferability. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><i><b><font size=2>(g) Withholding Taxes.</font></b></i><b><font size=2> </font></b><font size=2>The Participant shall pay to the Company, or make provision satisfactory to the Committee for payment of, any taxes required by law to be withheld in respect of Awards under the Plan no later than the date of the event creating the tax liability. The Company and its Affiliates may, to the extent permitted by law, deduct any such tax obligations from any payment of any kind due to the Participant hereunder or otherwise. In the Committee&#146;s discretion, the minimum tax obligations required by law to be withheld in respect of Awards may be paid in whole or in part in shares of Common Stock, including shares retained from the Award creating the tax obligation, valued at their Fair Market Value on the date of retention or delivery. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><i><b><font size=2>(h) Foreign Nationals.</font></b></i><font size=2> Awards may be made to Participants who are foreign nationals or employed outside the United States on such terms and conditions different from those specified in the Plan as the Committee considers necessary or advisable to achieve the purposes of the Plan or to comply with applicable laws. </font></p>

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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><A NAME="PAGENUM"><font size=2>3</font>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><i><b><font size=2>(i) Amendment of Award.</font></b></i><font size=2>  The Committee may amend, modify or terminate any outstanding Award, including without limitation changing the date of exercise or realization, causing the Award to be assumed by another entity, and converting an Incentive Stock Option to a Nonstatutory Stock Option, provided that the Participant&#146;s consent to such action shall be required (a) if such action would terminate, or reduce the number of shares issuable under, an Option, unless any time period relating to the exercise of such Option or the eliminated portion, as the case may be, is accelerated before such termination or reduction, in which case the Committee may provide for the Participant to receive cash or other property equal to the net value that would be received upon exercise of the terminated Option or the eliminated portion, as the case may be, and (b) in any other case, unless
the Committee determines that the action, taking into account any related action, would not materially and adversely affect the Participant. The Committee shall not, without further approval of the stockholders of the Company, authorize the amendment of any outstanding Option to reduce the exercise price. Furthermore, no Option shall be canceled and replaced with Options having a lower exercise price without approval of the stockholders of the Company. </font></p>

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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><i><b><font size=2>9. Certain Definitions</font></b></i><b><font size=2>. </font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&#147;Affiliate&#148; means any business entity in which the Company owns directly or indirectly 50% or more of the total voting power or has a significant financial interest as determined by the Committee. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&#147;Award&#148; means any Option, Stock Appreciation Right, Restricted Stock or Restricted Stock Unit granted under the Plan.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&#147;Board&#148; means the Board of Directors of the Company. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&#147;Code&#148; means the Internal Revenue Code of 1986, as amended from time to time, or any successor law. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&#147;Committee&#148; means one or more committees each comprised of not less than two members of the Board appointed by the Board to administer the Plan or a specified portion thereof. Unless otherwise determined by the Board, if a Committee is authorized to grant Awards to a Reporting Person or a Covered Employee, each member shall be a &#147;non-employee director&#148; within the meaning of Rule 16b-3 under the Exchange Act or an &#147;outside director&#148; within the meaning of Section 162(m) of the Code, respectively. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&#147;Common Stock&#148; or &#147;Stock&#148; means the Common Stock, $.01 par value, of the Company. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&#147;Company&#148; means Parametric Technology Corporation, a Massachusetts corporation. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&#147;Covered Employee&#148; means a &#147;covered employee&#148; within the meaning of Section 162(m) of the Code. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&#147;Designated Beneficiary&#148; means the beneficiary designated by a Participant, in a manner determined by the Committee, to receive amounts due or exercise rights of the Participant in the event of the Participant&#146;s death. In the absence of an effective designation by a Participant, &#147;Designated Beneficiary&#148; means the Participant&#146;s estate. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&#147;Exchange Act&#148; means the Securities Exchange Act of 1934, as amended from time to time, or any successor law. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&#147;Fair Market Value&#148; means, with respect to Common Stock or any other property, the fair market value of such property as determined by the Committee in good faith or in the manner established by the Committee from time to time.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&#147;Participant&#148; means a person selected by the Committee to receive an Award under the Plan. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&#147;Performance Goals&#148; means one or more objective performance goals based on one or more of the following criteria established by the Committee: revenue; revenue growth; sales; expenses; margins; net income; earnings or earnings per share; cash flow; shareholder return; return on investment; return on invested capital, assets, or equity; profit before or after tax; operating profit; return on research and development investment; market capitalization; new product releases; quality improvements; market share; cycle time reductions; customer satisfaction measures; strategic positioning or marketing programs; business/information systems improvements; expense management; </font></p>

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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><A NAME="PAGENUM"><font size=2>4</font>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>infrastructure support programs; human resource programs; customer programs; technology development programs; or any combination of any of the foregoing, and may be particular to a Participant or may be based, in whole or in part, on the performance of the division, department, line of business, subsidiary, or other business unit, whether or not legally constituted, in which the Participant works or on the performance of the Company generally. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&#147;Reporting Person&#148; means a person subject to Section 16 of the Exchange Act. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><i><b><font size=2>10. Miscellaneous</font></b></i><b><font size=2>.</font></b></p>

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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><i><b><font size=2>(a) No Right To Employment.</font></b></i><font size=2> No person shall have any claim or right to be granted an Award. Each employee of the Company or any of its Affiliates is an employee-at-will (that is to say that either the Participant or the Company or any Affiliate may terminate the employment relationship at any time for any reason or no reason at all) unless and only to the extent provided in a written employment agreement for a specified term executed by the chief executive officer of the Company or his duly authorized designee or the authorized signatory of any Affiliate. Neither the adoption, maintenance, nor operation of the Plan nor any Award hereunder shall confer upon any employee or consultant of the Company or of any Affiliate any right with respect to the continuance of his/her employment by or other service with the Company or any such Affiliate nor shall they interfere with the
rights of the Company (or Affiliate) to terminate any employee at any time or otherwise change the terms of employment, including, without limitation, the right to promote, demote or otherwise re-assign any employee from one position to another within the Company or any Affiliate. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><i><b><font size=2>(b) No Rights As Stockholder.</font></b></i><font size=2> Subject to the provisions of the applicable Award, no Participant or Designated Beneficiary shall have any rights as a stockholder with respect to any shares of Common Stock to be issued under the Plan until he or she becomes the holder thereof. A Participant to whom Common Stock is awarded shall be considered the holder of the Stock at the time of the Award except as otherwise provided in the applicable Award. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><i><b><font size=2>(c) Effective Date.</font></b></i><font size=2> The &#147;effective date&#148; of the Plan, from time to time, shall be the most recent date that the Plan was adopted or that it was approved by the stockholders, if earlier (as such terms are used in the regulations under Section 422 of the Code).</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><i><b><font size=2>(d) Amendment of Plan.</font></b></i><font size=2> The Board may amend, suspend or terminate the Plan or any portion thereof at any time, subject to such stockholder approval as the Board determines to be necessary or advisable to comply with any tax or regulatory requirement. </font></p>

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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><i><b><font size=2>(e) Governing Law.</font></b></i><font size=2> The provisions of the Plan shall be governed by and interpreted in accordance with the laws of the Commonwealth of Massachusetts. </font></p>

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<p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><i><font size=2>As amended through March 4, 2009</font></i></p> </td> </tr></table>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><A NAME="PAGENUM"><font size=2>5</font>
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