Document:

Separation Agreement and Release

 Exhibit 10.9 
 SEPARATION AGREEMENT AND RELEASE 
 THIS
SEPARATION AGREEMENT AND RELEASE (“Agreement”) is made by and between Michele Barbero Thompson (“Employee”) and Pervasive Software Inc., a Delaware corporation (the “Company” and together with
Employee, the “Parties”), on this date, February 16, 2007. 
 RECITALS 
 WHEREAS, Employee was employed by the Company as its Senior Vice President Business Operations and General Counsel. 
 WHEREAS, Employee and Company entered into an Agreement Respecting Trade Secrets, Inventions, Copyrights and Patents dated May 3, 1999 and an
Indemnification Agreement dated December 15, 2000 (“Indemnification Agreement”). 
 WHEREAS, the Company granted
Employee certain options (the “Options”) to purchase shares of the Company’s Common Stock subject to the terms and conditions of the Company’s 1997 Stock Incentive Plan (the “Incentive Plan”) and the Stock
Option Agreements between the Company and Employee (the “Stock Option Agreements”), reflecting Option grants as follows: May 24, 1999 (8,000 Options); November 5, 1999 (4,000 Options); April 26, 2000 (8,000 Options);
June 27, 2002 (60,000 Options); June 19, 2003 (20,000 Options); December 17, 2003 (30,000 Options); December 2, 2004 (75,000 Options) all as more specifically described in Schedule 1 attached hereto and incorporated herein by
reference. 
 WHEREAS, the Company granted Employee a restricted stock grant (the “Restricted Stock Grant”) related to
100,000 shares of the Company’s Common Stock subject to the terms and conditions of the Company’s 1997 Stock Incentive Plan (the “Incentive Plan”) and the Restricted Stock Agreement dated January 24, 2006 between the
Company and Employee (the “Restricted Stock Agreement”). 
 WHEREAS; the Company and Employee have agreed that
Employee’s employment with the Company will terminate effective February 16, 2007 (the “Termination Date”). 
 WHEREAS, the Parties wish to resolve any and all disputes, claims, complaints, grievances, charges, actions, petitions and demands that Employee may have against the Company, including, but not limited to, any and all claims arising or in
any way related to Employee’s employment or separation from the Company. 
 NOW, THEREFORE, in consideration of the promises made
herein, the Parties hereby agree as follows: 

 COVENANTS 
 1. Consideration. 
 (a) The Company agrees to pay to Employee (i) a lump sum payment of $55,000,
less applicable tax withholding, within 5 business days of the Termination Date, and (ii) $55,000, less applicable tax withholding, subject only to paragraph 4 below, payable in six (6) equal monthly installments payable on the first
calendar day of each month beginning with the first day of the first month following the Effective Date of this Agreement (the “Severance Period”) and (iii) an additional lump sum payment of $7,327.80 which is approximately the
gross-up value of Employee’s full benefits continuation cost for six (6) months. The Parties agree that all payments pursuant to this paragraph 1(a) will be made prior to March 15, 2008. Employee will not be eligible to receive 401K
matching contributions for 2007 plan contributions, incentive bonuses or any other type of bonus after the Termination Date. 
 (b) The
Parties agree that it is the Parties’ understanding that the benefits provided for under this Agreement shall not be considered to provide for the “deferral of compensation” as that phrase is used within the meaning of
Section 409A(d)(1) of the Internal Revenue Code of 1986, as amended (the “Code”). Accordingly, Company and Employee agree that the payments due under this Agreement from the Company to the Employee are, under current law, exempt from
the application of Section 409A of the Code, and the Company also acknowledges that, under current law, it is not subject to any IRS reporting requirements imposed by or pursuant to Section 409A of the Code with respect to any payment due
under the Agreement from the Company to the Employee. Employee acknowledges that the payments due under this Agreement from the Company to the Employee will be subject to Federal income taxes and payroll taxes for Social Security and Medicare and
that appropriate deductions will be made from such payments. Company agrees to indemnify Employee for any additional taxes, penalties, or interest Employee becomes obligated to pay should the benefits provided for under this Agreement be considered
to provide for the “deferral of compensation” as defined above. 
 (c) In order to assist the Company’s CEO to transition
Employee’s duties and responsibilities, including transfer of knowledge relating to her duties and responsibilities, Employee shall, as of the date of this Agreement, have delivered to the Company’s CEO the following: a list and
description of all projects and pending corporate transactions (including licensing agreements) for which she had responsibility and were ongoing as of the Termination Date, including but not limited to status summaries, project contact names,
relevant deadlines, pending action items, identification of all project-related documents, and with respect to any pending corporate transactions, a summary detailing unresolved negotiating terms and conditions and Employee shall be available to
provide other transition assistance as requested by the Company’s CEO. Employee will provide such information on disk or by electronic mail attachment as requested by the Company’s CEO. Employee also agrees to make available to the
Company’s CEO all project files, drafts of documents and other corporate records created during the term of her employment which have not been previously delivered. In addition, for a period of six (6) months subsequent to the Termination
Date or other longer term mutually agreed by the Parties, Employee agrees to be reasonably available to provide consulting services to the Company, which except in extraordinary circumstances, will not exceed one hour a weekCompany will pay Employee
an hourly rate of $212 for each hour of consultation provided. 
  

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Employee will not receive additional compensation for any transition duties contemplated by this Agreement beyond the salary continuation referenced above
and the hourly fee for consultation referenced above, unless otherwise negotiated between the parties. Employee agrees to keep the Company informed of her current contact information during the Severance Period. Employee understands and acknowledges
that the Company will not provide administrative assistance or office space, supplies or equipment following the Termination Date, with the exception that; (i) Company will designate Tammy Sullivan as the recipient of all voicemail from the
Company phone extension at 512-231-6037, all non-company specific regular mail, and all email received at the Company email address “mthompson@pervasive.com”, and said designee will make reasonable effort to forward to Employee any
non-Company specific voicemail, regular mail and email messages received during the Severance Period, and (ii) Employee will be allowed to continue to use the Blackberry and cell phone previously provided to her by the Company during the
Severance Period. Employee will be allowed to keep Laptop computer and the cell phone previously provided to her by the Company. Employee will return the Blackberry a the end of the Severance Period. Employee understands and acknowledges that,
following the Termination, she is not entitled to represent herself to clients, suppliers, investors, or the general public as a representative of the Company without prior consent by the Company. Employee and Company further agree that the
Agreement Respecting Trade Secrets, Inventions, Copyrights and Patents and the Indemnification Agreement shall remain effective according to their respective terms. Company agrees that Employee’s cell phone number 512-632-7272 was held by
Employee prior to her employment with Company and will be transferred back to Employee for her personal use following the Effective Date. 
 (d) Concurrent with the execution of this Agreement by both Parties, Employee will (i) execute a written resignation of her employment effective February 16, 2007 and (ii) will cooperate with the Company to take any action
required or to provide any appropriate documentation to effect her resignation as trustee of the Company’s 401(k) Plan and to appoint a new trustee of such plan. The Company agrees to provide Employee a copy of the resolution and a copy of the
401(k) Plan amendment reflecting her removal as trustee and appointing her replacement. Any action taken prior to the Termination Date by Employee as a result of her roles as an employee, shall be covered per the terms of the Indemnification
Agreement. 
 (e) Company agrees that subsequent to the execution of this Agreement, as of the Termination Date, Employee will no longer be
considered a member of the executive management team of the Company and at any time on or after the Termination Date, Company will not disclose inside or nonpublic material information to Employee without Employee’s prior written approval.

 (f) The Company agrees to provide Employee and Employee’s immediate family members with currently provided health, dental and other
insurance benefit continuation coverage for the maximum length of time allowed by law, provided Employee timely elects COBRA coverage, and complies with Company policy regarding such election, including the timely and proper submission of all
Company-required paperwork, and pays the Company’s then published rate for like employees for such benefits. 
  

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 (g) Employee acknowledges that without this Agreement, she is otherwise not entitled to the consideration
listed in this paragraph 1. 
 2. Stock. The Parties agree that for purposes of determining the number of shares of the Company’s
Common Stock which Employee is entitled to purchase from the Company pursuant to the exercise of the Options and the number of shares of the Company’s Common Stock to which Employee is entitled pursuant to the Restricted Stock Grant, Employee
will continue to vest through the end of the Severance Period, subject to Employee’s remaining a Service Provider as defined in the Incentive Plan. Employee specifically acknowledges that the execution of this Agreement does not constitute an
Involuntary Termination and further waives the right to receive any acceleration pursuant to the Options or the Restricted Stock Grant in the event of any Involuntary Termination following a Change of Control as those terms are defined by the
various agreements and the Incentive Plan. The Parties hereby acknowledge that the Options and the Restricted Stock Grant are hereby amended to waive any previously provided acceleration upon an Involuntary Termination following a Change of Control.
The exercise of the vested options shall continue to be subject to the terms and conditions of the Incentive Plan and the Stock Option Agreements and Employee shall be entitled to exercise any or all of the vested Options at any point until the
expiration of 90 calendar days from the last day that Employee is a Service Provider as defined in the Incentive Plan. The Parties agree that Employee will be considered a Service Provider during the Severance Period. The Parties agree that as of
August 16, 2007, Employee will be vested in and entitled to purchase from the Company 160,000 shares of Company Common Stock pursuant to the exercise of the Options as set out in Schedule 1 (less any exercises made by Employee between
February 16, 2007 and August 16, 2007). The Company agrees Employee shall be entitled to the same treatment and shall receive the same level of service from the Plan Administrator as any other officer of the Company when exercising her
Options and Restricted Stock. 
 3. Benefits. Except as stated herein, Employee’s participation in all benefits and incidents of
employment ceased on the Termination Date. Employee ceased accruing employee benefits, including, but not limited to, vacation time and paid time off, as of the Termination Date. On or before February 16, 2007, in addition to Employee’s
final payroll payment by Company, Company shall pay Employee for 160 hours of accrued vacation time (at Employee’s current base salary rate). For the purposes of 401K contribution, the Company shall withhold from same a pretax amount, subject
to the maximum current annual 401K pretax contribution of $15,500 (fifteen thousand US dollars), equal to the percentage of Employee’s pretax salary that Employee was contributing on a monthly basis as of the date of this Agreement, subject to
Employee’s compliance with Company policy and procedure regarding 401k contributions, including the timely and proper submission of necessary paperwork. The Company shall also pay Employee for any proper expense reimbursement or expense check
requests incurred in the sixty (60) days prior to the Termination Date, subject to Employee’s compliance with Company policy and procedure for business expense reimbursements, including the timely and proper submission of necessary
paperwork. Company will make all 401(k) matching contributions for 2006 income in accordance with the 401(k) Plan documents. 
 4.
Confidential Information/Property Return. Employee agrees to hold in strictest confidence, and not to use or disclose to any person, firm, corporation or entity, any of the 

  

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Company’s Confidential Information. “Confidential Information” shall mean any information that relates to the Company’s actual or
known anticipated business or research and development, technical data, trade secrets or know-how, including, but not limited to, research, product plans or other information regarding the Company’s products or services and markets therefor,
customer lists and customers (including, without limitation, the Company’s customers on whom Employee called or with whom Employee became acquainted during the term of her employment), software, developments, inventions, processes, formulas,
technology, designs, drawings, engineering, hardware configuration information, marketing, finances, financing activities (including, without limitation, proposed, pending or completed debt or equity financings of the Company), business combinations
(including, without limitation, proposed, pending or completed acquisitions) or other business information, including but not limited to information regarding employees and contractors of the Company. Confidential Information does not include any of
the foregoing items that is or becomes publicly known through no wrongful act or omission of Employee or of others who were under confidentiality obligations as to the item or items involved or improvements or new versions thereof. Employee
acknowledges and agrees that her compliance with this paragraph 4 is a condition of her receiving the consideration in paragraph 1, and that the Company will be entitled to cease payment of any salary continuation payments remaining due per
paragraph 1(a)(iii), in addition to pursuing any other legal remedies it may have, should Employee violate the provisions of this paragraph 4. Employee shall return the Company’s Blackberry upon the conclusion of the Severance Period. On or
before the Termination Date, Employee shall return Company’s property and confidential and proprietary information in her possession to the Company, including but not limited to computer disks, tapes, or other data storage media; credit cards;
keys; notebooks; and any copies or originals of Company documents (in whatever form, electronic or otherwise); provided, however, that Employee shall be allowed to keep her Laptop computer and her cell phone. 
 5. Payment of Compensation. Employee acknowledges and represents that the Company has paid all salary, wages, bonuses and any and all other
compensation and benefits due to Employee, except as otherwise noted in this Agreement. 
 6. Indemnification. The parties acknowledge
and agree that Employee shall retain her Corporate Status as defined under the Indemnification Agreement during the Severance Period and be entitled to rights of indemnification as provided in the Indemnification Agreement. The Parties further agree
that Employee shall continue to have the benefits afforded to an Indemnitee under the Indemnification Agreement for a period of not less than five (5) years after the conclusion of the Severance Period. 
 7. Release of Claims. Employee agrees that the foregoing consideration represents settlement in full of all outstanding obligations owed to
Employee by the Company and its current and former officers, directors, employees, agents, investors, attorneys, shareholders, administrators, affiliates, divisions, subsidiaries, predecessor and successor corporations and assigns, and each of the
current and former officers, directors, employees, affiliates, agents and representatives of each such person or entity (collectively, the “Releasees”). The Company also agrees that the foregoing consideration represents settlement
in full of all outstanding obligations owed to the Company by Employee. 
  

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 8. Employee hereby and forever releases the Releasees from, and the Company, including its controlled
affiliates and their respective directors and officers, hereby and forever releases the Employee from (the party making such release, the “Releasing Party” and the party or parties benefiting from such release, the “Other
Party”), and agrees not to sue concerning, or in any manner to institute, prosecute or pursue, any claim, complaint, charge, duty, obligation or cause of action relating to any matters of any kind, whether presently known or unknown,
suspected or unsuspected, that the Releasing Party may possess against the Other Party(s) arising from any omissions, acts or facts that have occurred up until and including the date hereof, including, without limitation, 
 (a) any and all claims relating to or arising from Employee’s employment relationship with the Company and the termination of that relationship;

 (b) any and all claims relating to, or arising from, Employee’s right to purchase, or actual purchase of shares of stock of the
Company, including, without limitation, any claims for fraud; misrepresentation; breach of fiduciary duty; breach of duty under applicable state corporate law; and securities fraud under any state or federal law; 
 (c) any and all claims under the law of any jurisdiction including, but not limited to, wrongful discharge of employment; constructive discharge from
employment; termination in violation of public policy; discrimination; harassment; retaliation; breach of contract, both express and implied; breach of a covenant of good faith and fair dealing, both express and implied; promissory estoppel;
negligent or intentional infliction of emotional distress; negligent or intentional misrepresentation; negligent or intentional interference with contract or prospective economic advantage; unfair business practices; defamation; libel; slander;
negligence; personal injury; assault; battery; invasion of privacy; false imprisonment; and conversion; workers’ compensation and disability benefits; 
 (d) any and all claims for violation of any federal, state or municipal statute, including, but not limited to, Title VII of the Civil Rights Act of 1964; the Civil Rights Act of 1991; the Age Discrimination in
Employment Act of 1967; the Americans with Disabilities Act of 1990; the Fair Labor Standards Act; the Employee Retirement Income Security Act of 1974; The Worker Adjustment and Retraining Notification Act; the Older Workers Benefit Protection Act;
the Family and Medical Leave Act; the Texas Payday Act, Tex. Lab. Code sec. 21.001 et seq., or any other provision of the Texas Labor Code; 
 (e) any and all claims for violation of the federal, or any state, constitution; 
 (f) any and all claims arising out of any other
laws and regulations relating to employment or employment discrimination; 
 (g) any claim for any loss, cost, damage, or expense arising
out of any dispute over the non-withholding or other tax treatment of any of the proceeds received by Employee as a result of this Agreement except as provided for in paragraph 1(b); and 
 (h) any and all claims for attorneys’ fees and costs 
  

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 (i) The Company and Employee agree that the mutual release set forth in this section shall be and remain
in effect in all respects as a complete general release as to the matters released by either party. This release does not extend to any obligations incurred under this Agreement by either party. 
 9. Acknowledgement of Waiver of Claims Under ADEA. Employee acknowledges that she is waiving and releasing any rights she may have under the Age
Discrimination in Employment Act of 1967 (“ADEA”) and that this waiver and release is knowing and voluntary. Employee and the Company agree that this waiver and release does not apply to any rights or claims that may arise under
ADEA after the Effective Date of this Agreement. Employee acknowledges that the consideration given for this waiver and release Agreement is in addition to anything of value to which Employee was already entitled. Employee further acknowledges that
she has been advised by this writing that: 
 (a) she should consult with an attorney prior to executing this Agreement; 

(b) she has up to twenty-one (21) days within which to consider this Agreement; 
 (c) she has seven (7) days following her execution of this Agreement to revoke this Agreement; 
 (d) this Agreement shall not be effective until the revocation period has expired; and 
 (e) nothing in this Agreement prevents or precludes Employee from challenging or seeking a determination in good faith of the validity of this waiver
under the ADEA, nor does it impose any condition precedent, penalties or costs for doing so, unless specifically authorized by federal law. 
 10. Unknown Claims. Employee represents that she is not aware of any claim related to Employee other than the claims that are released by this Agreement. The Company represents that it is not aware of any claim related to Employee
other than the claims that are released by this Agreement. Both Parties acknowledge that they have been advised to consult with legal counsel. 
 11. No Pending or Future Lawsuits. Employee represents that she has not brought and does not intend to bring any claims on behalf of the Employee or on behalf of any other person or entity against the Company or any other person or
entity referred to herein, including, without limitation, any of the Releasees. The Company represents that it has not brought and does not intend to bring any claims on behalf of the Company or on behalf of any other person or entity against the
Employee. If Employee brings a suit in violation of this Section, the Company shall have the right to cease and or recover any consideration paid pursuant to Section 1 above. All other provisions of this Agreement shall remain in full force and
effect. 
 12. Confidentiality. The Parties acknowledge that Employee’s agreement to keep the terms and conditions of this
Agreement confidential was a material factor on which all parties 

  

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relied in entering into this Agreement. Other than as required by law or otherwise stated herein, Employee and Company hereto agree to maintain in
confidence, the contents and terms of this Agreement, and the consideration for this Agreement (hereinafter collectively referred to as “Settlement Information”). Employee and Company agree to disclose Settlement Information only to
those board members (in case of disclosure by the Company), attorneys, advisors, and immediate family members who have a reasonable need to know of such Settlement Information. This confidentiality provision is an essential aspect of the
consideration for the Company entering into this Agreement. If Employee, or anyone acting at this direction, violates this confidentiality provision, the Company will be entitled to cease payments for any salary continuation not yet paid per
paragraph 1(a)(iii), in addition to pursuing any other legal remedies it may have. The Parties agree that this confidentiality provision is not intended to limit the obligation of any party or person to provide testimony before any court or
legislative, regulatory or administrative body, to disclose the Agreement in proceedings to enforce this Agreement, or to comply with any court order or law, and that this Agreement will be subject to disclosures required by government agencies,
including certain required securities act filings. If any portion of this Settlement Information is publicly disclosed by the Company to any governmental agency, or through no wrongful act or omission of Employee, Employee shall no longer be subject
to this confidentiality provision. 
 13. Cooperation with Company. Employee agrees to cooperate, at the reasonable request of the
Company, in the defense and/or prosecution of any charges, claims, investigations (internal or external), administrative proceedings and/or lawsuits relating to matters occurring during Employee’s period of employment. The Company agrees to pay
Employee a fee of $212 an hour for the time expended in the defense and prosecution of such matters. 
 14. No Cooperation with Third
Parties. Employee agrees that she will not encourage, counsel or assist any attorneys or their clients in the presentation or prosecution of any disputes, differences, grievances, claims, charges, or complaints by any third party against the
Company, including executive staff and Board Members, unless under a subpoena or other court order to do so. Employee shall inform the Company in writing within three (3) business days of receiving any such subpoena or other court order.

 15. Non-Disparagement. The Parties agree that they shall not make or publish any disparaging or defamatory remarks or comments
expressly or by implication regarding one another, or the services or products developed or sold by the other Party or the Company’s executive staff or Board of Directors (individually or as a group); provided, however, that the Company’s
obligations in this regard shall extend only to its Board of Directors and executive staff. Notwithstanding the foregoing, the Parties will mutually agree on language to be communicated to Company employees. 
 16. Non-Solicitation. Employee agrees that during the Severance Period, Employee shall not either directly or indirectly solicit, induce, or
recruit any of the Company’s current employees at a manager level or above, developers or sales representatives to leave their employment, or attempt to do so, either for herself or any other person or entity. 
 17. No Admission of Liability. The Parties understand and acknowledge that this Agreement constitutes a compromise and settlement of actual or
potential disputed claims. No action taken by the Parties hereto, or either of them, either previously or in connection with this Agreement shall be deemed or construed to be: 
 (a) an admission of the truth or falsity of any claims made or any potential claims; or 
  

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 (b) an acknowledgment or admission by either party of any fault or liability whatsoever to the other
party or to any third party. 
 18. Costs. The Company shall reimburse Employee up to $5,000 of her attorney’s fees and costs
incurred in connection with the negotiation and preparation of this Agreement, subject to Employee’s providing the Company with a copy of the relevant detailed invoice from her counsel (redacted as necessary to protect the attorney-client
privilege). 
 19. Arbitration. The Parties agree that any and all disputes arising out of the terms of this Agreement, their
interpretation, and any of the matters herein released, shall be subject to binding arbitration in Travis County, Texas before the American Arbitration Association under its National Rules for the Resolution of Employment Disputes. The Parties agree
that the prevailing party in any arbitration shall be entitled to injunctive relief in any court of competent jurisdiction to enforce the arbitration award. The Parties agree that the prevailing party in any arbitration shall be awarded its
reasonable attorneys’ fees and costs. The Parties hereby agree to waive their right to have any dispute between them resolved in a court of law by a judge or jury. This paragraph will not prevent either party from seeking injunctive
relief (or any other provisional remedy) from any court having jurisdiction over the Parties and the subject matter of their dispute relating to Employee’s obligations under this Agreement and the Agreement Respecting Trade Secrets, Inventions,
Copyrights and Patents. 
 20. Authority. The Company represents and warrants that the undersigned has the authority to act on behalf
of the Company and to bind the Company and all who may claim through it to the terms and conditions of this Agreement. Employee represents and warrants that she has the capacity to act on her own behalf and on behalf of all who might claim through
her to bind them to the terms and conditions of this Agreement. Each Party warrants and represents that there are no liens or claims of lien or assignments in law or equity or otherwise of or against any of the claims or causes of action released
herein. 
 21. No Representations. Each Party represents that it has had the opportunity to consult with an attorney, and has
carefully read and understands the scope and effect of the provisions of this Agreement. In entering into this Agreement, neither Party has relied upon any representations or statements made by the other Party hereto which are not specifically set
forth in this Agreement. 
 22. Severability. In the event that any provision, or any portion thereof, becomes or is declared by a
court of competent jurisdiction to be illegal, unenforceable or void, this Agreement shall continue in full force and effect without said provision or portion of said provision. 
 23. Entire Agreement. This Agreement represents the entire agreement and understanding between the Company and Employee concerning the subject
matter of this 

  

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Agreement and Employee’s relationship with the Company, and supersedes and replaces any and all prior agreements and understandings between the Parties
concerning the subject matter of this Agreement and Employee’s relationship with the Company, with the exception of the Indemnification Agreement, Stock Option Agreements, the Restricted Stock Agreement, the Plan and the Agreement Respecting
Trade Secrets, Inventions, Copyrights and Patents. Employee further acknowledges and agrees that she remains subject to the Company’s Insider Trading Policy and Public Disclosure Policy. 
 24. No Waiver. The failure of the Parties hereto to insist upon the performance of any of the terms and conditions in this Agreement, or the
failure to prosecute any breach of any of the terms and conditions of this Agreement, shall not be construed thereafter as a waiver of any such terms or conditions. This entire Agreement shall remain in full force and effect as if no such
forbearance or failure of performance had occurred. 
 25. No Oral Modification. This Agreement may only be amended in a writing
signed by Employee and the Chief Executive Officer of the Company. 
 26. Governing Law. This Agreement shall be construed,
interpreted, governed, and enforced in accordance with the laws of the State of Texas, without regard to choice-of-law provisions. The Parties hereto hereby consent to personal and exclusive jurisdiction and venue in the State of Texas. 

27. Attorneys’ Fees. In the event that either Party brings an action to enforce or effect its rights under this Agreement, the prevailing
party shall be entitled to recover its costs and expenses, including the costs of mediation, arbitration, litigation, court fees, plus reasonable attorneys’ fees, incurred in connection with such an action. 
 28. Effective Date. This Agreement is effective after it has been signed by both Parties and after seven (7) days have passed since Employee
has signed the Agreement. 
 29. Counterparts. This Agreement may be executed in counterparts, and each counterpart shall have the
same force and effect as an original and shall constitute an effective, binding agreement on the part of each of the undersigned. 
 30.
Voluntary Execution of Agreement. This Agreement is executed voluntarily and without any duress or undue influence on the part or behalf of the Parties hereto, with the full intent of releasing all claims. The Parties acknowledge that:

 (a) they have read this Agreement; 
 (b) they have been represented in the preparation, negotiation, and execution of this Agreement by legal counsel of their own choice or that they have voluntarily declined to seek such counsel; 
 (c) they understand the terms and consequences of this Agreement and of the releases it contains; and 
 (d) they are fully aware of the legal and binding effect of this Agreement. 
  

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 [Signature page follows.] 
  

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 IN WITNESS WHEREOF, the Parties have executed this Agreement on the respective dates set forth below.

  

									
		 		 		 	Pervasive Software Inc.
					
	 Dated:
	 	February 16, 2007	 		 	By:	 	 /s/ John Farr

		 		 		 	Name:	 	John Farr
		 		 		 	Title:	 	President and CEO
				
		 		 		 	Michele Barbero Thompson, an individual
				
	 Dated:
	 	February 16, 2007	 		 	 /s/ Michele B. Thompson

		 		 		 	Michele Barbero Thompson

 SIGNATURE PAGE TO SEPARATION
AGREEMENT AND RELEASEForm of Non-Qualified Stock Option Award Agreement - Bruce Williamson

 Exhibit 10.70 
 FORM OF 
 NON-QUALIFIED STOCK OPTION AWARD AGREEMENT 
 THIS NON-QUALIFIED STOCK OPTION AWARD AGREEMENT (this “Agreement”) is made as of the
[            ] day of April, 2007, between DYNEGY INC., a Delaware corporation (“Dynegy”), and all of its Affiliates (collectively, the “Company”), and
Bruce A. Williamson (“Employee”). A copy of the Dynegy Inc.
[                                        ]
Incentive Plan (the “Plan”) is annexed to this Agreement and shall be deemed a part of this Agreement as if fully set forth herein. Unless the context otherwise requires, all terms that are not defined herein but which are defined in
the Plan shall have the same meaning given to them in the Plan when used herein. 
 1. The Grant. The Compensation and Human
Resources Committee of the Board of Directors (the “Committee”) granted to Employee on April [            ], 2007 (“Effective Date”), as a matter of
separate inducement and not in lieu of any salary or other compensation for Employee’s services, the right and option to purchase (the “Option”), in accordance with the terms and conditions set forth in the Plan and in this Agreement,
an aggregate number of [                    ] shares (the “Shares”) of Class A common stock of Dynegy, $0.01 par value
per share (the “Common Stock”), at a price of $[                    ] per share (the “Exercise Price”). Employee
acknowledges receipt of a copy of the Plan, and agrees that the Option shall be subject to all of the terms and provisions of the Plan, including future amendments thereto, if any, pursuant to the terms thereof, and to all of the terms and
conditions of this Agreement. The Option shall not be treated as an incentive stock option within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”). The Exercise Price is, in the judgment of the
Committee, not less than one hundred percent (100%) of the Fair Market Value of a share of the Common Stock on the Effective Date. If it is subsequently determined by the Committee, in its sole discretion, that the terms and conditions of this
Agreement and/or the Plan are not compliant with Code Section 409A, or any Treasury regulations or Internal Revenue Service guidance promulgated thereunder, this Agreement and/or the Plan may be amended accordingly. 
 2. Exercise. Subject to the provisions, limitations and other relevant provisions of the Plan and of this Agreement, and the earlier
expiration of the Option as herein provided, Employee may exercise the Option to purchase some or all of the Shares as follows: 
 (a) The Option shall become exercisable in three cumulative equal annual installments as follows: 
 (i) on the first
anniversary of the Effective Date, the right to purchase one-third of the aggregate number of Shares shall become exercisable without further action by the Committee; 
 (ii) on the second anniversary of the Effective Date, the right to purchase an additional one-third of the aggregate number of Shares
shall become exercisable without further action by the Committee; and 
 (iii) on the third anniversary of the Effective Date,
the right to purchase the remaining one-third of the aggregate number of Shares shall become exercisable without further action by the Committee. 
  

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 (b) Notwithstanding any other provision of this Agreement, the unexercised portion of the
Option, if any, will automatically and without notice terminate and become null and void upon the expiration of ten (10) years from the Effective Date of the Option. 
 (c) Any exercise by Employee of the Option, or portion thereof, shall be conducted by delivery of an irrevocable notice of exercise to the
Company or its designee as provided in the Plan. In no event shall Employee be entitled to exercise the Option for less than a whole Share. 
 (d) Notwithstanding any other provision of this Agreement, upon the occurrence of a Change in Control, the Option shall become fully vested and immediately exercisable in full on the date of the Change in Control. For
purposes hereof, “Change in Control” shall mean the occurrence of any of the following events: (i) a merger of Dynegy with another entity, a consolidation involving Dynegy, or the sale of all or substantially all of the assets or
equity interests of Dynegy to another entity if, in any such case, (A) the holders of equity securities of Dynegy immediately prior to such event do not beneficially own immediately after such event equity securities of the resulting entity
entitled to fifty-one percent (51%) or more of the votes then eligible to be cast in the election of directors (or comparable governing body) of the resulting entity in substantially the same proportions that they owned the equity securities of
Dynegy immediately prior to such event or (B) the persons who were members of the Board immediately prior to such event do not constitute at least a majority of the board of directors of the resulting entity immediately after such event;
(ii) the dissolution or liquidation of Dynegy, but excluding a reorganization pursuant to chapter 11 of Title 11, U.S. Code, as amended; (iii) a circumstance where any person or entity, including a “group” as contemplated by
Section 13(d)(3) of the Exchange Act, acquires or gains ownership or control (including, without limitation, power to vote) of fifty percent (50%) or more of the combined voting power of the outstanding securities of, (A) if Dynegy
has not engaged in a merger or consolidation, Dynegy, or (B) if Dynegy has engaged in a merger or consolidation, the resulting entity; (iv) circumstances where, as a result of or in connection with, a contested election of directors, the
persons who were members of the Board immediately before such election shall cease to constitute a majority of the Board; or (v) the Board (or the Committee) adopts a resolution declaring that a Change in Control has occurred. For purposes of
the “Change in Control” definition, (1) “resulting entity” in the context of an event that is a merger, consolidation or sale of all or substantially all of the subject assets or equity interests shall mean the surviving
entity (or acquiring entity in the case of an asset or equity interest sale), unless the surviving entity (or acquiring entity in the case of an asset sale) is a subsidiary of another entity and the holders of common stock of Dynegy receive capital
stock of such other entity in such transaction or event, in which event the resulting entity shall be such other entity, and (2) subsequent to the consummation of a merger or consolidation that does not constitute a Change in Control, the term
“Dynegy” shall refer to the resulting entity and the term “Board” shall refer to the board of directors (or comparable governing body) of the resulting entity. 
  

 2 

 3. Termination of Employment. The Option may be exercised only while Employee remains an
employee of the Company and will terminate and cease to be exercisable upon Employee’s termination of employment with the Company, except that: 
 (a) if Employee shall die while in the employ of the Company, the Option awarded hereunder shall immediately vest with respect to all of the remaining Shares and become fully exercisable without further action by the
Committee, and Employee’s legal representative, or the person, if any, who acquired the Option by bequest or inheritance or by reason of the death of Employee, may exercise the Option, to the extent not previously exercised, in respect of any
or all such Shares at any time up to and including the date three (3) years after the date of death, after which date the Option will automatically and without notice terminate and become null and void; and 
 (b) if Employee’s employment with the Company terminates by reason of disability (as defined in the Company’s long term
disability program or plan in which Employee is a participant or, if Employee does not participate in any such plan, as defined in the Dynegy Inc. Long Term Disability Plan, as amended, or the successor plan thereto), the Option awarded hereunder
shall immediately vest with respect to all of the remaining Shares and become fully exercisable without further action by the Committee, and Employee may exercise the Option, to the extent not previously exercised, in respect of any or all such
Shares at any time up to and including the date three (3) years after the date of termination of Employee’s employment by reason of such disability, after which date the Option will automatically and without notice terminate and become
null and void; and 
 (c) if Employee’s employment with the Company terminates by reason of retirement by Employee
following (i) the date on which such Employee has reached fifty-five (55) years of age and (ii) at least five (5) years of service as an employee of the Company or its subsidiaries, the Option awarded hereunder shall continue to
become exercisable in accordance with Section 2(a) of this Agreement, and Employee may exercise the Option, to the extent not previously exercised, at any time up to and including the date five (5) years after the date of termination of
Employee’s employment by reason of such retirement, or the end of the option term, whichever is less, after which date the Option will automatically and without notice terminate and become null and void; and 
 (d) if Employee’s employment with the Company terminates by reason of dismissal by the Company for Cause, as such term is defined
below, then the Option, to the extent not previously exercised, will immediately, automatically and without notice or further action by the Committee, terminate and become null and void; and 
 (e) if Employee’s employment with the Company terminates by reason of dismissal by the Company other than for Cause or by Employee
due to a resignation following a Constructive Termination, the Option awarded hereunder shall immediately vest with respect to all remaining Shares and become fully exercisable without further action of the Committee, and Employee may exercise the
Option, to the extent not previously exercised, at any time up to and including the date three (3) years after the date of such termination of employment; and 
  

 3 

 (f) if Employee’s employment with the Company terminates by reason of resignation by
the Employee (other than a resignation as provided in Sections 3(e) or (g) hereof) and at a time when Employee was entitled to exercise the Option, Employee may exercise the Option, to the extent not previously exercised, with respect to any or
all such number of Shares as to which the Option was exercisable as of the date of Employee’s termination of employment, at any time up to and including the date ninety (90) days after the date of termination by reason of such resignation,
after which date the Option will automatically and without notice terminate and become null and void; and 
 (g) if
Employee’s employment with the Company is terminated as a result of an Involuntary Termination occurring within sixty (60) days before or within one year after the effective date of a Change in Control, the Option shall become fully vested
and immediately exercisable in full on the effective date of the Change of Control, and such Option shall remain exercisable from such date for the lesser of: (i) five (5) years from the effective date of such Change in Control;
(ii) the remaining period of time for exercise of the Option hereunder (irrespective of any mandatory exercise period specified herein that would otherwise be triggered by the termination of employment of such Employee); or (iii) such
period of time (which period of time may end as early as the consummation of a “Corporate Change,” as such term is defined in the Plan) as the Committee may determine in connection with or in contemplation of a Corporate Change in the
exercise of its discretion under the Plan, with respect to which the Committee has the discretion to, among other things, require the surrender of stock options (which surrender may be in exchange for a cash payment, if applicable) and to cancel
such stock options upon the consummation of a Corporate Change as further described in the Plan. 
 (h) For purposes of this
Agreement: 
 “Cause” shall mean, and hence arise as a result of, as determined by the Committee in its sole
discretion, Employee’s (i) refusal to implement or adhere to lawful policies or lawful directives of the Board of Directors; (ii) engaging in conduct which is materially injurious (monetarily or otherwise) to the Company (including,
without limitation, misuse of the Company’s funds or other property); (iii) misconduct or dishonesty directly related to the performance of Employee’s duties for the Company or gross negligence in the performance of Employee’s
duties for the Company; (iv) conviction (or entering into a plea bargain admitting criminal guilt) in any criminal proceeding involving a felony or a crime of moral turpitude; (v) drug or alcohol abuse; (vi) continued failure to
perform Employee’s duties under the Employment Agreement (as defined below) which is not cured within 10 days after written notice is provided to Employee by the Company; or (vii) material breach of any other provision of the Employment
Agreement which is not cured within 10 days after written notice is provided to Employee by the Company. 
 “Constructive
Termination” shall be deemed to have occurred in the event that (i) Employee’s Base Salary (as defined in the Employment Agreement) is reduced; (ii) the Company materially breaches the Employment Agreement; or
(iii) Employee’s position is relocated outside of the Houston, Texas metropolitan area. 
  

 4 

 “Employment Agreement” shall mean the Employee’s employment agreement, as
amended, with Dynegy. 
 “Involuntary Termination” shall mean Employee’s employment is terminated by the
Company (or a successor thereto) without Cause, or by Employee following: (i) a significant diminution in Employee’s responsibilities, authority or duties; (ii) a reduction in Employee’s Base Salary; (iii) relocation of
Employee’s position outside the Houston, Texas metropolitan area; or (iv) a material breach of the Employment Agreement by the Company. 
 4. Registration. The Company intends to register the Shares for issuance under the Securities Act of 1933, as amended (the “Act”), and to keep such registration effective throughout the period the Option is
exercisable. In the absence of such effective registration or an available exemption from registration under the Act, issuance of the Shares will be delayed until registration of such shares is effective or an exemption from registration under the
Act is available. The Company intends to use its best efforts to ensure that no such delay will occur. In the event exemption from registration under the Act is available upon an exercise of the Option, Employee (or the person permitted to exercise
the Option in the event of Employee’s death or incapacity), if requested by the Company to do so, will execute and deliver to the Company, in writing, such agreements and other documents containing such provisions as the Company may require to
assure compliance with applicable securities laws. 
 Employee agrees that the Shares will not be sold or otherwise disposed of in any manner
which would constitute a violation of any applicable federal or state securities laws. Employee also agrees that (i) the certificates representing the Shares may bear such legend or legends as the Committee in its sole discretion deems
appropriate in order to assure compliance with applicable securities laws and (ii) the Company may refuse to register transfer of the Shares on the stock transfer records of the Company, and may give related instructions to its transfer agent,
if any, to stop registration of such transfer, if such proposed transfer would in the opinion of counsel satisfactory to the Company constitute a violation of any applicable securities law. 
 5. Employment Relationship. For purposes of this Agreement, Employee shall be considered to be in the employment of the Company as long as
Employee remains an employee of (a) the Company, (b) an Affiliate (as such term is defined in the Plan) or (c) a corporation (or a parent or subsidiary of such corporation) assuming or substituting a new option for the Option. Any
question as to whether and when there has been a termination of such employment, and the cause of such termination, shall be determined by the Committee in its sole discretion, and its determination shall be final and binding on all parties.

 6. Withholding Taxes. By Employee’s acceptance hereof, Employee hereby (a) agrees to reimburse the Company or any
Affiliate by which Employee is employed for any federal, state or local taxes required by any government to be withheld or otherwise deducted by such corporation in respect of Employee’s exercise of the Option, (b) authorize the Company or
any Affiliate by which Employee is employed to withhold from any cash compensation paid to 

  

 5 

 
Employee or in Employee’s behalf, an amount sufficient to discharge any federal, state and local taxes imposed on the Company, or the Affiliate by which
Employee is employed, and which otherwise has not been reimbursed by Employee, in respect of Employee’s exercise of the Option and (c) agrees that the corporation by which Employee is employed, may, in its discretion, hold the stock
certificates to which Employee is entitled upon exercise of the Option, as security for the payment of the aforementioned withholding tax liability, until cash sufficient to pay that liability has been accumulated, and may, in its discretion, effect
such withholding by retaining Shares issuable upon the exercise of the Option having a Fair Market Value on the date of exercise which is equal to the amount to be withheld. 
 7. Miscellaneous. 
 (a) This grant is subject to all the terms, conditions, limitations and restrictions contained in the Plan. In the event of any conflict or inconsistency between the terms hereof and the terms of the Plan, the terms of the Plan shall be
controlling. In the event of any conflict or inconsistency between the terms hereof and the terms of the Dynegy Inc. Executive Severance Pay Plan, including any amendments or supplements thereto, the terms hereof shall be controlling. 
 (b) This grant is not a contract of employment and the terms of Employee’s employment shall not be affected hereby or by any
agreement referred to herein except to the extent specifically so provided herein or therein. Nothing herein shall be construed to impose any obligation on the Company or on any Affiliate to continue Employee’s employment, and it shall not
impose any obligation on Employee’s part to remain in the employ of the Company or of any Affiliate. 
 (c) All
references in this Agreement to any “corporation” shall include a corporation, a general partnership, a joint venture, a limited partnership, a business trust or any other lawful business entity. 
 (d) Any notices or other communications provided for in this Agreement shall be sufficient if in writing. In the case of Employee, such
notices or communications shall be effectively delivered when hand delivered to Employee at his or her principal place of employment or when sent by registered or certified mail to Employee at the last address Employee has filed with the Company. In
the case of the Company, such notices or communications shall be effectively delivered when sent by registered or certified mail to the Company at its principal executive offices. 
 (e) This Agreement may not be amended except by an agreement in writing signed by each of the Company and Employee consenting to such
amendment. 
 [Remainder of page intentionally left blank] 
  

 6 

 IN WITNESS WHEREOF, the Company has caused this Agreement to be duly executed by an officer thereunto
duly authorized, and Employee has agreed to and accepted the terms of this Agreement, all as of the date first above written. 
  

					
	DYNEGY INC.
		
	By:	 	  

	Name:	 	J. Kevin Blodgett
	Title:	 	General Counsel & EVP, Administration
	
	Accepted By:

  

			
	  
 Bruce A. Williamson
	 	  
 Date

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