Document:

EXHIBIT 10.1

 Exhibit 10.1 
 AGREEMENT 
 AGREEMENT, dated as of December 15, 2006 between R&G Financial
Corporation, a Puerto Rico corporation (the “Company”), and Mr. Rolando Rodriguez (the “Executive”). 
 RECITALS

 WHEREAS, the Company desires to be ensured of the Executive’s continued active participation in the business of the
Company; 
 WHEREAS, the Company desires to enter into an employment agreement with the Executive with respect to
Executive’s employment by the Company; 
 AGREEMENT 
 NOW THEREFORE, in consideration of the mutual agreements herein contained, and upon the other terms and conditions hereinafter provided, the parties hereby agree as follows: 
 1. Definitions. The following words and terms shall have the meanings set forth below for the purposes of this Agreement: 
 (a) Base Salary. “Base Salary” shall have the meaning set forth in Section 3(a) hereof. 
 (b) Cause. Termination of the Executive’s employment for “Cause” shall mean termination because of personal
dishonesty, incompetence, willful misconduct, breach of fiduciary duty involving personal profit, intentional failure to perform stated duties, willful violation of any law, rule or regulation (other than traffic violations or similar offenses) or
final cease-and-desist order or material breach of any provision of this Agreement. 
 (c) Date of Termination.
“Date of Termination” shall mean (i) if the Executive’s employment is terminated for Cause or for Disability, the date specified in the Notice of Termination, and (ii) if the Executive’s employment is terminated for any
other reason, the date on which a Notice of Termination is given or as specified in such Notice. 
 (d) Disability.
Termination by the Company of the Executive’s employment based on “Disability” shall mean termination because of any physical or mental impairment which qualifies the Executive for disability benefits under the applicable long-term
disability plan maintained by the Company or, if no such plan applies, which would qualify the Executive for disability benefits under the Federal Social Securities System. 
 (e) Notice of Termination. Any purported termination of the Executive’s employment by the Company for any reason, including
without limitation for Cause or 

 Disability, or by the Executive for any reason, shall be communicated by written “Notice of Termination” to the
other party hereto. For purposes of this Agreement, a “Notice of Termination” shall mean a dated notice which (i) indicates the specific termination provision in this Agreement relied upon, (ii) sets forth in reasonable detail
the facts and circumstances claimed to provide a basis for termination of Executive’s employment under the provision so indicated, (iii) specifies a Date of Termination, which shall be not less than thirty (30) nor more than ninety
(90) days after such Notice of Termination is given, except in the case of the Company’s termination of Executive’s employment for Cause, which shall be effective immediately; and (iv) is given in the manner specified in
Section 9 hereof. 
  

	 	2.	Term of Employment. 

 (a) The Company hereby employs
the Executive as President and Chief Executive Officer of the Company and the Executive hereby accepts said employment and agrees to render such services to the Company on the terms and conditions set forth in this Agreement. The term of employment
under this Agreement shall be for two years, beginning on January 1, 2007 until midnight of December 31, 2009, unless such term is extended as provided in this Section 2. On January 1, 2008 and each annual anniversary thereafter,
the term of this Agreement shall automatically be extended for an additional one-year, unless the Executive or the Company gives written notice to the other party or parties hereto of such party’s or parties’ election not to extend the
term, with such notice to be given not less than sixty (60) days prior to any such anniversary date. If any party gives timely notice that the term will not be extended, then this Agreement shall terminate at the conclusion of its remaining
term. References herein to the “Term of Employment” shall refer both to the initial term and successive terms. 
 (b) During the
Term of Employment, the Executive shall perform such executive services for the Company as may be consistent with Executive’s titles and such executive services which are from time to time assigned to Executive by the Company’s Board of
Directors. The Executive shall devote Executive’s entire business time, attention, skill and energy exclusively to the business of the Company. The Executive shall not engage or prepare to engage in any other business activity, whether or not
such business activity is pursued for gain, profit or other economic or financial advantage; provided, however, that the Executive may engage in appropriate civic, charitable or religious activities and devote a reasonable amount of time to private
investments or boards or other activities provided that such activities do not interfere or conflict with the Executive’s responsibilities and are not or not likely to be contrary to the Company’s interests. 
  

	 	3.	Compensation and Benefits. 

 (a)(i) The Company
shall compensate and pay the Executive for services during the term of this Agreement at a base annual salary of $700,000 per year (“Base Salary”), which may be increased from time to time in such amounts as may be determined by the Board
of Directors of the Company and may not be decreased without the Executive’s express written consent. 
  

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 (ii) In addition to Base Salary, the Executive shall be entitled to receive a Guaranteed Bonus of
$200,000, payable following each of December 31, 2007 and 2008, and at the end of each additional year in which the Executive is employed by the Company for the full year in question. 
 (iiii) A performance bonus of up to $300,000 will be paid each year, beginning with the year 2007, based on the goals of the Company, which shall be
defined by the Board of Directors of the Company at the start of each year, and which shall include consideration of the Company’s profitability and changes in the Company’s aggregate stock market capitalization. 
 (iv) Pursuant to the R&G Financial Corporation 2004 Stock Option Plan (the “Plan”), stock options for 120,000 shares of the Company’s
common stock (the “Option Award”) shall be granted to Executive upon the Company becoming current in all of its public reporting responsibilities under the Securities and Exchange Act of 1934, as amended (the “Exchange Act”). The
number of options to be granted takes into consideration and supersedes amounts that were to be issued to Executive under his prior agreement with R-G Crown Bank referenced in Section 16 hereof. All stock options shall have an exercise price
equal to the closing price of the Company’s common stock on the close of business on the business day prior to the date of the Option Award. The Option Award shall vest and become exercisable pursuant to the following schedule: (i) options
to acquire 30,000 shares of common stock shall vest and become exercisable upon issuance; (ii) options to acquire 30,000 shares of common stock shall vest and become exercisable on the first anniversary date of the issuance date of the Option
Award; (iii) options to acquire 30,000 shares of common stock shall vest and become exercisable on the second anniversary date of the issuance date of the Option Award; and (iv) options to acquire 30,000 shares of common stock shall vest
and become exercisable on the third anniversary date of the issuance date of the Option Award. The terms and conditions of the Option Award shall be set forth in a Stock Option Agreement in accordance with the provisions of the Plan, and which shall
provide for accelerated vesting of the Option Award upon a “Sale Event” (as that term is defined in the Plan). 
 (b) During the
term of this Agreement, the Executive shall be entitled to participate in and receive the benefits of any pension or other retirement benefit plan, profit sharing, stock option, employee stock ownership, medical plans, dental plans or other plans,
benefits and privileges given to employees and executives of the Company, to the extent commensurate with then duties and responsibilities, as fixed by the Board of Directors of the Company. For benefit plan purposes, the Executive will be given
credit for his service as an employee of R-G Crown Bank. 
 (c) During the term of this Agreement, the Executive shall be entitled to
eighteen (18) days paid annual vacation. The Executive shall not be entitled to receive any additional compensation from the Company for failure to take a vacation, nor shall the Executive be able to accumulate unused vacation in excess of 36
days except to the extent authorized by the Board of Directors of the Company. 
  

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 (d) In the event the Executive’s employment is terminated due to Disability, the Executive may
continue coverage for medical and life insurance coverage under COBRA (36 months). Executive shall continue to be provided with the life insurance coverage in effect for him by R-G Crown Bank as of the date hereof. 
 (e) The Company shall, during the term of this Agreement, pay the Executive the sum of $2,750 per month as a car allowance. 
 (f) The Company shall provide up to $15,000 annually, including one initiation fee, for one country club membership. 
 (g) A one-time payment of relocation expenses up to $25,000 that the Executive may incur with respect to transporting personal belongings and two
automobiles from Orlando, Florida to Puerto Rico, upon receipt of appropriate documentation. 
 (h) Reasonable travel and lodging expenses
incurred by Executive and his wife while in the process of moving to Puerto Rico, upon receipt of appropriate documentation. 
 (i) To the
extent that Executive incurs penalties for the early cancellation of his existing home and automobile leases in Florida, the Company shall pay such penalties, upon receipt of appropriate documentation. 
 4. Expenses. The Company shall reimburse the Executive or otherwise provide for or pay for all reasonable expenses incurred by the Executive in
furtherance of or in connection with the business of the Company, including, but not by way of limitation, traveling expenses, subject to such reasonable documentation and other limitations as may be established by the Board of Directors of the
Company. If such expenses are paid in the first instance by the Executive, the Company shall reimburse the Executive therefor. 
  

	 	5.	Termination. 

 (a) The Company shall have the right,
at any time upon prior Notice of Termination, to terminate the Executive’s employment hereunder for any reason, including without limitation, termination for Cause or Disability, and the Executive shall have the right, upon prior Notice of
Termination, to terminate employment hereunder for any reason. 
 (b) In the event that (i) the Executive’s employment is
terminated by the Company for Cause or (ii) the Executive terminates employment hereunder other than for Disability or death, the Executive shall have no right pursuant to this Agreement to compensation or other benefits for any period after
the applicable Date of Termination. 
 (c) In the event that the Executive’s employment is terminated as a result of Disability during
the term of this Agreement, the Executive shall receive Base Salary for the duration of the term of this Agreement. In the event of the Executive’s death during the term of the Agreement, the Executive’s estate shall receive the Base
Salary to the end of the term of this Agreement. 
  

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 (d) In the event that (i) the Executive’s employment is terminated by the Company for other
than Cause, Disability, or the Executive’s death or (ii) such employment is terminated by the Executive due to a material breach of this Agreement by the Company, which breach has not been cured within fifteen (15) days after a
written notice of non-compliance has been given by the Executive to the Company, then the Company shall provide the Executive with the compensation otherwise payable pursuant to Section 3(a) hereof. 
 (e) In the event of a “Change of Control” of the Company, the Executive shall be entitled to receive a $750,000 payment. For purposes of this
Agreement, a “Change of Control” of the Company shall mean an event of a nature that: (i) would be required to be reported in response to Item 1.01 of the requirements for filing of Current Reports on Form 8-K, as in effect on
the date hereof, pursuant to Sections 13 or 15(d) of the Exchange Act; or (ii) results in a Change in Control of the Company within the meaning of the Home Owners’ Loan Act, as amended, the Federal Deposit Insurance Act and the Rules and
Regulations promulgated by the Office of Thrift Institution (“OTS”) as in effect on the date hereof (provided, that in applying the definition of change in control as set forth under the rules and regulations of the OTS, the Board of
Directors shall substitute its judgment for that of the OTS); or (iii) without limitation, such a Change in Control shall be deemed to have occurred at such time as (A) any “person” (as the term is used in Sections 13(d) under
the Exchange Act) other , directly or indirectly, after the date hereof becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act) of voting securities of the Company representing 20% or more of Company’s
outstanding voting securities or right to acquire such securities, except for any voting securities of the Company purchased by any employee benefit plan of the Company, or (B) individuals who constitute the Board of Directors of the Company on
the date hereof (the “Incumbent Board”) cease for any reason to constitute at least a majority thereof, provided that any person becoming a director subsequent to the date hereof whose election was approved by a vote of at least
three-quarters of the directors comprising the Incumbent Board, or whose nomination for election by the Company’s stockholders was approved by a Nominating Committee solely comprised of members who are Incumbent Board members, shall be, for
purposes of this clause (B), considered as though he were a member of the Incumbent Board, (C) a plan of reorganization, merger, consolidation, sale of all or substantially all the assets of the Company or similar transaction occurs or is
effectuated in which the Company is not the resulting entity; provided, however, that such an event listed above will be deemed to have occurred or to have been effectuated upon the receipt of all required federal regulatory approvals not including
the lapse of any statutory waiting periods, or (D) a proxy statement shall be distributed soliciting proxies from stockholders of the Company, by someone other than the current management of the Company, seeking stockholder approval of a plan
of reorganization, merger or consolidation of the Company or its subsidiaries with one or more corporations as a result of which the outstanding shares of the class of securities then subject to such plan or transaction are exchanged for or
converted into cash or property or securities not issued by the Company or its subsidiaries shall be distributed; or (E) a tender offer is made and accepted for 20% or more of the voting securities of the Company or its subsidiaries then
outstanding. Notwithstanding anything to the contrary, the sale or merger of any subsidiary of the Company shall not constitute a “Change of Control” for purposes of this Agreement. 
  

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 (f) In the event that the Company enters into a definitive agreement with respect to a Change of Control,
and the Company has not yet issued to the Executive the Option Award because the Company is not at such time current in all of its public reporting responsibilities under the Exchange Act, the Executive shall receive an additional $500,000 in cash,
which shall be paid immediately prior to the closing of the Change of Control transaction. 
 6. Non-Competition. The Executive agrees
that: 
 (a) During the term of this Agreement, the Executive will not, directly or indirectly, participate in or act as a principal, partner,
officer, employee, agent, or consultant to any business entity which is competitive with the business now or hereafter engaged in or conducted by the Company, nor shall the Executive hold greater than 5% of the equity securities of any such
business. 
 (b) For a period of one year following the termination of this Agreement for any reason, the Executive will not, directly or
indirectly, solicit for employment, or hire any person who during the term of this Agreement was engaged as an employee or officer of the Company or any of its subsidiary or affiliated companies. 
 7. Withholding. All payments required to be made by the Company hereunder to the Executive shall be subject to the withholding of such amounts, if
any, relating to tax and other payroll deductions as the Company may reasonably determine should be withheld pursuant to any applicable law or regulation. 
 8. Assignability. The Company may assign this Agreement and its rights and obligations hereunder in whole, but not in part, to any corporation, Company or other entity with or into which the Company may
hereafter merge or consolidate or to which the Company may transfer all or substantially all of its assets, if in any such case said corporation, Company or other entity shall by operation of law or expressly in writing assume all obligations of the
Company hereunder as fully as if it had been originally made a party hereto, but may not otherwise assign this Agreement or its rights and obligations hereunder. The Executive may not assign or transfer this Agreement or any rights or obligations
hereunder. 
 9. Notice. For the purposes of this Agreement, notices and all other communications provided for in this Agreement shall
be in writing and shall be deemed to have been duly given when delivered or mailed by certified or registered mail, return receipt requested, postage prepaid, addressed to the respective addresses set forth below: 
  

			
	 The Company:
	  	 Chairman of the Board
 R&G Financial
Corporation
 R&G Tower
 290 Jesús T. Pinero
Avenue
 San Juan, Puerto Rico 00918

  

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 With a copy to: 
 Secretary 
 R&G Financial Corporation 
 R&G Tower 
 290 Jesús T. Pinero Avenue 
 San Juan, Puerto Rico 00918 
 The Executive: 
 Mr. Rolando Rodriguez 
 Urbanizacion Caparra Hills 
 H-20 Yagrumo St. 
 Guaynabo, P.R.00968 
 10.
Amendment; Waiver. No provisions of this Agreement may be modified, waived or discharged unless such waiver, modification or discharge is agreed to in writing and signed by the Executive and such officer or officers as may be specifically
designated by the Board of Directors of the Company to sign on its behalf. No waiver by any party hereto at any time of any breach by any other party hereto of, or compliance with, any condition or provision of this Agreement to be performed by such
other party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. 
 11. Governing Law. The validity, interpretation, construction and performance of this Agreement shall be governed by the laws of the United States where applicable and otherwise by the substantive laws of Puerto Rico. 
 12. Nature of Obligations. Nothing contained herein shall create or require the Company to create a trust of any kind to fund any benefits which
may be payable hereunder, and to the extent that the Executive acquires a right to receive benefits from the Company hereunder, such right shall be no greater than the right of any unsecured general creditor of the Company. 
 13. Headings. The section headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or
interpretation of this Agreement. 
 14. Validity. The invalidity or unenforceability of any provision of this Agreement shall not
affect the validity or enforceability of any other provisions of this Agreement, which shall remain in full force and effect. 
 15.
Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original but all of which together will constitute one and the same instrument. 
 16. Entire Agreement. This Agreement embodies the entire agreement between the Company and the Executive with respect to the matters agreed to
herein. All prior agreements between the Company, its subsidiary companies and the Executive are hereby superseded and shall have no force or effect, including specifically that certain Agreement dated January 9, 2006 between R-G Crown Bank and
Executive. 
  

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 IN WITNESS WHEREOF, this Agreement has been executed as of the date first above written.

  

			
	R-G FINANCIAL CORPORATION
		
	By:	 	  

		 	Víctor J. Galán
		 	Chairman of the Board
	
	EXECUTIVE
		
	By:	 	  

		 	Rolando RodriguezTermination and Mutual Release Agreement

 Exhibit 10.1 
 TERMINATION AND 
 MUTUAL RELEASE AGREEMENT 
 THIS TERMINATION AND MUTUAL RELEASE AGREEMENT (this “Agreement”) is made as of December 16, 2006, by and among EMB Holding Corp.
(“Parent”), EMBT Merger Corp. (“Merger Sub,” and together with Parent, the “EMB Parties”), and Embarcadero Technologies, Inc. (the “Company,” and together with the EMB Parties, the
“Parties”). 
 WHEREAS, on September 6, 2006, Parent, Merger Sub and the Company entered into an Agreement and Plan of
Merger providing for the merger of Merger Sub with and into the Company (the “Merger Agreement”), and Thoma Cressey Fund VIII, L.P. executed a Limited Guarantee with respect to the Merger Agreement (the “Limited
Guarantee”) and an equity commitment letter (the “Equity Commitment”) with respect to the Merger Agreement. The Merger Agreement, the Limited Guarantee and the Equity Commitment are collectively referred to herein as the
“Transaction Documents”). 
 WHEREAS, the Parties have determined that it is in their mutual best interests to terminate the
Merger Agreement in accordance with the provisions of Section 7.1(a) thereof. 
 NOW, THEREFORE, for and in consideration of the
foregoing and the mutual agreements hereinafter set forth, the parties hereby agree as follows: 
 1. Termination. Each of the
Parties, on behalf of itself or himself and its or his Affiliates, in any capacity, agrees and acknowledges that the Merger Agreement shall be, and that it hereby is, terminated by the mutual written consent of Parent and the Company in accordance
with Section 7.1(a) thereof, and that as a result of such termination and of the mutual releases set forth in Section 2 below, no Party shall have any continuing liabilities or obligations to the other of any nature whatsoever with respect
to the proposed merger, whether under the Transaction Documents or otherwise. 
 2. Releases. 
  

	 	(a)	Release by the Company. The Company, on behalf of itself and each of its Affiliates, and each of their respective agents, representatives, equityholders, attorneys,
accountants, advisors, predecessors, successors, successors-in-interest and assigns (each, a “Company Releasor” and collectively, the “Company Releasors”), does hereby forever release, remise and discharge each of
the EMB Parties, Thoma Cressey Equity Partners Inc. (“TCEP”) and any entities, funds or persons affiliated or associated with TCEP in any way (the “TCEP Parties”), and each of their respective agents,
representatives, equityholders, attorneys, accountants, advisors, predecessors, successors, successors-in-interest and assigns (each, a “Company Releasee” and collectively, the “Company Releasees”) from any and all
Released Claims, and hereby agrees and covenants not to assert or prosecute against any or all of the Company Releasees any Released Claims, that any of the Company Releasors ever had, may have or hereafter can, may or shall have.

	 	(b)	Release by the EMB Parties. Each of the EMB Parties, on behalf of itself and TCEP and each of the TCEP Parties, and each of their respective agents, representatives,
equityholders, attorneys, accountants, advisors, predecessors, successors, successors-in-interest and assigns (each, an “EMB Releasor” and collectively, the “EMB Releasors”), does hereby forever release, remise and
discharge the Company and each of its Affiliates, and each of their respective agents, representatives, equityholders, attorneys, accountants, advisors, predecessors, successors, successors-in-interest and assigns (each, an “EMB
Releasee” and collectively, the “EMB Releasees”) from any and all Released Claims, and hereby agrees and covenants not to assert or prosecute against any or all of the EMB Releasees any Released Claims, that any of the EMB
Releasors ever had, may have or hereafter can, may or shall have. 

  

	 	(c)	Certain Definitions. 

 “Affiliate” shall mean, with respect to any Person, (a) each Person that, directly or indirectly, controls, is controlled by, or is under common control with such Person, (b) each Person that, directly or
indirectly, owns or controls, whether beneficially, or as a trustee, guardian or other fiduciary, five percent (5%) or more of any capital stock, general or limited partnership interest, or other equity interest of such Person, (c) in the
case of a limited liability company, any Person that is the managing member of that Person and in all instances each Person that controls, is controlled by or is under common control with such Person, and (d) each of such Person’s
officers, directors, joint venturers and partners. For purposes of this definition, “control” (including with correlative meanings, the terms “controlling,” “controlled by” and “under common control with”)
means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a Person, whether through the ownership of voting securities or by contract or otherwise. 
 “Claim(s)” shall mean, individually or collectively, as applicable, any and all actions, causes of action, counterclaims, suits, debts,
dues, sums of money, accounts, reckonings, bonds, bills, specialties, covenants, contracts, controversies, agreements, promises, variances, trespasses, damages, judgments, extents, executions, rights, claims, demands, liabilities, losses, rights to
reimbursement, subrogation, indemnification or other payment, costs or expenses, and reasonable attorneys’ fees, whether in law or in equity, of any nature whatsoever, known or unknown, suspected or unsuspected, fixed or contingent, and whether
representing a past, present or future obligation. 
 “Person” shall mean any individual, firm, corporation, business
enterprise, trust, association, joint venture, partnership or any other entity, whether acting in an individual, fiduciary or other capacity. 
 “Released Claims” shall mean, individually and collectively, any and all Claims that may relate in any way to the Transaction Documents or the transactions contemplated thereby. 
 “Releasee” shall mean, individually and collectively, the Company Releasees and the EMB Releasees. 
  

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 “Releasor” shall mean, individually and collectively, the Company Releasors and the EMB
Releasors. 
 “Subsidiary” means, with respect to any Person, any corporation, partnership, association or business entity
of which more than fifty percent (50%) of the total voting power of shares of stock (or equivalent ownership or controlling interest) entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers
or trustees thereof is at the time owned or controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries of that Person or a combination thereof. 
 3. No Admission. Nothing in this Agreement shall be construed as an admission by any Releasor of the existence of any Released Claim or of any
liability with respect to any or all of such Released Claims or any other past or future act, omission, fact, matter, transaction or occurrence. The Parties have agreed to release the Released Claims against each other in order to avoid the costs
and undesirable effects of litigation between or among each other. 
 4. Waiver of Section 1542. It is the intention of the
Parties and their counsel that this Agreement be effective as a full and final accord, satisfaction and release as to the matters released in the prior two paragraphs. In furtherance of this intention, each party represents, and warrants that it has
read and is familiar with California Civil Code § 1542, which provides as follows: 
 A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE
CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM MUST HAVE MATERIALLY AFFECTED HIS SETTLEMENT WITH THE DEBTOR. 
 Each party, with the advice of counsel, knowingly and voluntarily waives any protection to which it may be entitled under Section 1542 and further waives any protection that may exist under any comparable or
similar statutes or principles of law under any and all states of the United States or of the United States, and covenants not to assert any claims in violation of this waiver. 
 5. Amendment. This Agreement shall not be amended except in a writing signed by each of the Parties hereto. 
 6. Entire Agreement. This Agreement constitutes the entire understanding of the Parties concerning the subjects contained herein and supersedes
any and all prior or contemporaneous representations, promises, agreements or understandings, whether written or oral, relating to that subject matter. 
 7. Representations and Warranties. Each Party represents and warrants to the other as follows: 
 (i) such Party is duly organized, validly existing and in good standing under the laws of its state of organization; 
  

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 (ii) such party has taken all corporate, limited partnership or limited liability company
action required to authorize the execution and delivery of this Agreement, including, without limitation, receiving the approval of such Party’s board of directors; 
 (iii) this Agreement constitutes the legal, valid and binding obligation of such Party, enforceable in accordance with its terms, and the
execution, delivery and performance of this Agreement by such Party does not and will not conflict with, violate or cause a breach of any agreement, contract or instrument to which such Party is a party or any judgment, order or decree to which such
Party is subject; and 
 (iv) such Party has not assigned, transferred, or otherwise granted to any Person any interest in any
claim or demand released by it pursuant to this Agreement. 
 8. Successors And Assigns; Third Party Beneficiaries. Neither this
Agreement nor any of the rights or obligations hereunder may be assigned by any Party, without the prior written consent of the other Parties. This Agreement shall be binding upon and inure to the benefit of the Parties and their respective
successors and permitted assigns. Any Releasee who is not named as a Party to this Agreement shall have the rights of an intended third-party beneficiary with respect to the provisions of the releases in its, his or her favor. Except as set forth in
the immediately preceding sentence, no other Person not a party hereto shall be deemed a third-party beneficiary of any provision of this Agreement or shall otherwise be entitled to enforce any provision hereof. 
 9. Counterparts. This Agreement may be executed by any number of counterparts and by different parties hereto and separate counterparts, each of
which when so executed and delivered shall be deemed to be an original and all of which taken together shall constitute but one and the same instrument. Executed signature pages may be detached from multiple separate counterparts and attached to a
single counterpart so that all signature pages are physically attached to the same document. Any party hereto may execute and deliver a counterpart of this Agreement by delivery by facsimile or other electronic transmission of a signature page of
this Agreement signed by such Party, and any such facsimile signature shall be treated in all respects as having the same effect as having an original signature. Any party delivering by facsimile or other electronic transmission a counterpart
executed by it or him shall promptly thereafter also deliver a manually signed counterpart. 
 10. Headings. The titles, captions or
headings in this Agreement are included herein or therein for convenience of reference only and shall not constitute a part of this Agreement. 
 11. Parties’ Use Of Legal Counsel And Construction Of Agreement. Each of the Parties hereby acknowledges that it or he has been advised by its or his own legal counsel in connection with the negotiation, drafting, execution, and
delivery and consummation of this Agreement (including, without limitation, the release and covenant not to sue provisions hereof). The Parties agree and acknowledge that the normal rule of construction to the effect that any ambiguities are to be
resolved against the drafting Party shall not be employed in the interpretation of this Agreement or any amendments, exhibits or schedules thereto. Each Party has entered into this Agreement freely and voluntarily, without coercion, duress, distress
or under influence by any other Persons or its, his or her respective shareholders, directors, officers, partners, agents or employees. 
  

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 12. Severability. Whenever possible, each provision of this Agreement shall be interpreted in such
a manner to be effective and valid under applicable law, but if any provision of this Agreement shall be prohibited by or invalid under applicable law, such provision shall be ineffective to the extent of such prohibition or invalidity, without
invalidating the remainder of such provision or the remaining provisions of this Agreement. 
 13. Choice of Law. THIS RELEASE SHALL
BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW THAT WOULD REQUIRE THE APPLICATION OF THE LAWS OF ANY OTHER JURISDICTION. EACH PARTY HERETO HEREBY SUBMITS TO THE
EXCLUSIVE JURISDICTION OF THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF DELAWARE OR ANY OF THE COURTS OF THE STATE OF DELAWARE FOR PURPOSES OF ALL LEGAL PROCEEDINGS ARISING OUT OF OR RELATING TO THIS RELEASE OR THE TRANSACTIONS CONTEMPLATED
HEREBY. EACH PARTY HERETO IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF THE VENUE OF ANY SUCH PROCEEDING BROUGHT IN SUCH A COURT AND ANY CLAIM THAT ANY SUCH PROCEEDING
BROUGHT IN SUCH A COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. EACH PARTY TO THIS AGREEMENT HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS RELEASE OR THE TRANSACTIONS
CONTEMPLATED HEREBY. 
 *            *            *            * 
  

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 IN WITNESS WHEREOF, the parties have executed this Termination and Mutual Release Agreement to be
effective as of the time of last delivery on the date first written above. 
  

			
	EMBARCADERO TECHNOLOGIES, INC.
		
	By:	 	/s/ Stephen R. Wong
	Name:	 	Stephen R. Wong
	Its:	 	President and Chief Executive Officer
	
	EMB HOLDING CORP.
		
	By:	 	/s/ Orlando Bravo
	Name:	 	Orlando Bravo
	Its:	 	President
	
	EMBT MERGER CORP.
		
	By:	 	/s/ Orlando Bravo
	Name:	 	Orlando Bravo
	Its:	 	President

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