AUTOBYTEL INC. AMENDED AND RESTATED SEVERANCE AGREEMENTSeverance Agreement • March 9th, 2009 • Autobytel Inc • Services-computer programming, data processing, etc. • California
Autobytel has determined that it is in its best interests to encourage Employee’s continued employment with, and dedication to the business of, Autobytel, and as a result thereof, Autobytel and Employee have previously entered into a severance agreement dated as of October 30, 2007 (“Prior Severance Agreement”). In light of Autobytel’s financial condition, recent reductions in force and evaluation of various strategic alternatives, which may include a Change of Control of Autobytel, Autobytel has determined that it is in the Company’s best interests to amend the Prior Severance Agreement to provide for additional incentive to encourage Employee’s continued employment with Autobytel and dedication to Autobytel’s business.
