Autobytel Inc. 18872 MacArthur Boulevard Irvine, California 92612-1400 January 30, 2009 Monty Houdeshell Re: Termination of Employment Dear Monty:
Exhibit 10.1
00000 XxxXxxxxx Xxxxxxxxx
Xxxxxx, Xxxxxxxxxx 00000-0000
January 30, 2009
Xxxxx Xxxxxxxxxx
Re: Termination of Employment
Dear Xxxxx:
Reference is hereby made to your Employment Agreement dated as of January 30, 2007, as amended by that certain Amendment No. 1 to Employment Agreement dated December 20, 2008, (collectively the “Employment Agreement”) by and between you and Autobytel Inc., a Delaware corporation (“Company”).
As we have discussed, the Company hereby notifies you that the Company has elected to terminate your employment without Cause pursuant to Section 6.2 of the Employment Agreement. Such termination to be effective February 28, 2009.
Upon your execution and delivery to the Company of a separation and release in favor of the Company (a copy of which is attached) without revocation and your resignation as an officer of the Company and as an officer and director of all subsidiaries of the Company, you will be eligible to receive severance benefits from the Company on the terms and as set forth in Section 6.2 of the Employment Agreement, subject to standard deductions and withholdings.
Should you have any questions, please direct them to Xxxxx Xxxxxx.
| Sincerely, | ||
| AUTOBYTEL INC. | ||
| By: | /s/ Xxxxx X. Xxxxxx | |
| Xxxxx X. Xxxxxx | ||
| Executive Vice President and Chief Legal and | ||
| Administrative Officer and Secretary | ||
