UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
January 24, 2006
PERVASIVE SOFTWARE INC.
(Exact name of registrant as specified in its charter)
| | | | |
| Delaware | | 0-23043 | | 74-2693793 |
(State or other jurisdiction of incorporation) | | (Commission File Number) | | (IRS Employer Identification No.) |
12365 Riata Trace Parkway
Building B, Austin, Texas 78727
(Address of principal executive offices, including zip code)
(512) 231-6000
(Registrant’s telephone number, including area code)
(Former name or former address, if changed since last report)
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 (see General Instruction A.2. below):
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 1.01 Entry into a Material Definitive Agreement
On January 24, 2006, Pervasive Software Inc. (the “Company”) entered into a Separation Agreement and Release (the “Agreement”) with Jeff Seiden who resigned as the Company’s Senior Vice President Corporate Development as of January 24, 2006. Pursuant to the Agreement, Mr. Seiden will receive (i) a lump sum payment of approximately $68,000, less applicable withholding, on or before January 31, 2006 and (ii) $57,500, less applicable withholding, payable in equal monthly installments for six months, beginning with the first payroll period following the date of the Agreement. Under the Agreement, during the six month period following the date of the Agreement, Mr. Seiden will provide consulting services to the Company (on an as needed and as agreed basis). In addition, Mr. Seiden will be able to exercise his vested options for a period of 90 days after his termination as a consultant. The Agreement contains standard provisions whereby the Company and Mr. Seiden mutually release each other from various possible claims and liabilities.
SIGNATURES
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.
| | |
| | | PERVASIVE SOFTWARE INC. |
| |
By: | | /s/ John Farr |
| | |
|
| | | John Farr President and Chief Executive Officer |
Date:February 1, 2006
